Apartment Rental as self-employed

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VHRA
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Apartment Rental as self-employed

Post by VHRA » Wed Nov 20, 2019 10:19 pm

Hi!

I am moving to Chile with my Chilean girlfriend at the beginning of 2020. Having spent a total time of about 18 months in Chile on Tourist Visas over the last 4 years, I have never signed a long term rental contract but only stayed in short-stays / AirBNBs.

Currently my girlfriend does not have an income, and I am self-employed working online, and thus I lack regular pay-slips or proof of employment which I assume renters may ask for.

What I do have:

Bank-statements showing I have sufficient funds to support us and pay rent, as well as proving my income.
References from landlords in the UK and Sweden
In-laws willing to co-sign rental agreement

We will be looking to rent in Las Condes / Lo Barnechea area and from what I have seen on portalinmobiliario we will be in the 1.5M~ range.

What else should I prepare before I start contacting landlords and scheduling viewings to increase our chances of being accepted?

Any advice appreciated!

Kind Regards,

Victor H

vamoschile
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Re: Apartment Rental as self-employed

Post by vamoschile » Wed Nov 20, 2019 11:00 pm

I assume you are from England/Sweden? That being the case the fact that you are European and speak english will put you high on the list. In my experience renting they wont care about proof of income for a foreign but rather bank statements saying you have enough to afford a place. I would recommend searching for housing that is rented by the owner and not a realtor/property manager. I don't think you will have a problem finding a rental.

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Re: Apartment Rental as self-employed

Post by admin » Thu Nov 21, 2019 5:49 am

given the collapse in the "airbnb" investment crowd, I would suspect there are a going to be whole lot of apartments coming on the market for long-term rental that the owners are not too terribly picky about who they rent to as long as they kind of sorta look like they can pay.

empty apartments are money loosing dogs.
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VHRA
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Re: Apartment Rental as self-employed

Post by VHRA » Thu Nov 21, 2019 9:47 am

Appreciate the quick replies!

I don't have any experience negotiating rental agreements in South America, in Sweden and the UK they usually do not want to negotiate but given the state of Chile at the moment it seems likely I would be able to haggle a bit on rental prices set before the protests or is it frowned upon?

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tiagoabner
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Re: Apartment Rental as self-employed

Post by tiagoabner » Thu Nov 21, 2019 9:57 am

That depends on how the property is priced versus the market. Trying to go too low on a property that's on the cheap already isn't going to work, but you should be able to negotiate 5-10%, especially if you're negotiating with the owner and if there are other places to rent for cheaper in the same area. Nobody wants to have sitting apartments on the current socio-policital landscape.
I'm NOT your lawyer, accountant or financial planner. All information at this post should be considered for your entertainment only. Consult a professional before making a decision regarding whatever topic was mentioned in this post.

Jamers41
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Re: Apartment Rental as self-employed

Post by Jamers41 » Thu Nov 21, 2019 10:22 am

vamoschile wrote:
Wed Nov 20, 2019 11:00 pm
I assume you are from England/Sweden? That being the case the fact that you are European and speak english will put you high on the list. In my experience renting they wont care about proof of income for a foreign but rather bank statements saying you have enough to afford a place. I would recommend searching for housing that is rented by the owner and not a realtor/property manager. I don't think you will have a problem finding a rental.
Yeah, officially you are supposed to have at least a few months of "liquidaciones" (income statements), make an income of at least 3x the cost of rent, have a co-signer (aval), make a deposit in case of damages at the end of the contract, etc etc for almost anywhere. However, as many have said here before, considering that you would be an exotic foreigner (i.e. not from another part of South America) coming from a more "developed" part of the world, presumably with some cash in the bank, and arriving during a time in which the rental market is getting shaken around a bit and demand may be soft (depending on the exact location), it could turn out to be much easier than the requirements usually posted in ads (like the ones I just mentioned above). Finding an apartment owned by an individual and talking directly to that owner, showing him/her your bank statements, and negotiating, as suggested by others here, should increase your chances. I myself did this once, although back then I think the typical requirements were not as strict.

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Re: Apartment Rental as self-employed

Post by admin » Thu Nov 21, 2019 10:44 am

Jamers41 wrote:
Thu Nov 21, 2019 10:22 am
vamoschile wrote:
Wed Nov 20, 2019 11:00 pm
I assume you are from England/Sweden? That being the case the fact that you are European and speak english will put you high on the list. In my experience renting they wont care about proof of income for a foreign but rather bank statements saying you have enough to afford a place. I would recommend searching for housing that is rented by the owner and not a realtor/property manager. I don't think you will have a problem finding a rental.
Yeah, officially you are supposed to have at least a few months of "liquidaciones" (income statements), make an income of at least 3x the cost of rent, have a co-signer (aval), make a deposit in case of damages at the end of the contract, etc etc for almost anywhere. However, as many have said here before, considering that you would be an exotic foreigner (i.e. not from another part of South America) coming from a more "developed" part of the world, presumably with some cash in the bank, and arriving during a time in which the rental market is getting shaken around a bit and demand may be soft (depending on the exact location), it could turn out to be much easier than the requirements usually posted in ads (like the ones I just mentioned above). Finding an apartment owned by an individual and talking directly to that owner, showing him/her your bank statements, and negotiating, as suggested by others here, should increase your chances. I myself did this once, although back then I think the typical requirements were not as strict.
just to clarify that a bit, there is nothing "official" about those requirements. "common" or "typical" perhaps, but there is no legal requirement that a landlord go through any of that.
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
For more information visit: https://www.spencerglobal.com

From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

vamoschile
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Re: Apartment Rental as self-employed

Post by vamoschile » Thu Nov 21, 2019 10:45 am

VHRA wrote:
Thu Nov 21, 2019 9:47 am
Appreciate the quick replies!

I don't have any experience negotiating rental agreements in South America, in Sweden and the UK they usually do not want to negotiate but given the state of Chile at the moment it seems likely I would be able to haggle a bit on rental prices set before the protests or is it frowned upon?
I personally wouldn't get into the haggling here in Chile. I have travelled through most of Latin America and Chile in my experience haggles less then everyone. You might even offend the owner and not get an option to rent by trying to save a few bucks a month. If you like the apartment and are willing to pay full price then you might make a suggestion like is there anything you can do on price, etc. I wouldn't go in and set the price yourself and demand that or you move on.

Jamers41
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Re: Apartment Rental as self-employed

Post by Jamers41 » Thu Nov 21, 2019 2:09 pm

admin wrote:
Thu Nov 21, 2019 10:44 am
Jamers41 wrote:
Thu Nov 21, 2019 10:22 am
vamoschile wrote:
Wed Nov 20, 2019 11:00 pm
I assume you are from England/Sweden? That being the case the fact that you are European and speak english will put you high on the list. In my experience renting they wont care about proof of income for a foreign but rather bank statements saying you have enough to afford a place. I would recommend searching for housing that is rented by the owner and not a realtor/property manager. I don't think you will have a problem finding a rental.
Yeah, officially you are supposed to have at least a few months of "liquidaciones" (income statements), make an income of at least 3x the cost of rent, have a co-signer (aval), make a deposit in case of damages at the end of the contract, etc etc for almost anywhere. However, as many have said here before, considering that you would be an exotic foreigner (i.e. not from another part of South America) coming from a more "developed" part of the world, presumably with some cash in the bank, and arriving during a time in which the rental market is getting shaken around a bit and demand may be soft (depending on the exact location), it could turn out to be much easier than the requirements usually posted in ads (like the ones I just mentioned above). Finding an apartment owned by an individual and talking directly to that owner, showing him/her your bank statements, and negotiating, as suggested by others here, should increase your chances. I myself did this once, although back then I think the typical requirements were not as strict.
just to clarify that a bit, there is nothing "official" about those requirements. "common" or "typical" perhaps, but there is no legal requirement that a landlord go through any of that.
Thanks for clarifying. By "official" I did not mean legally, it's of course up to each landlord. What I meant was that requirements like these are the standard answer that you will get when asking, and what they usually put in ads, but if you are able to meet the owner in person as an atypical foreigner and show your bank statements (or even better, cash) then you may be able to get around his or her "official" requirements. Although try to use common sense about walking around town with cash in your pockets to meet strangers......ideally the cash should only appear when there's a contract being signed and deposits about to be made.

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