Income? These are the options to pay your quarantine rent

This is how rents were managed in the event of a health emergency.

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Income? These are the options to pay your quarantine rent
Income? These are the options to pay your quarantine rent

In the midst of the coronavirus pandemic, many people were able to work from home, while others had difficulties. Nevertheless, bills keep coming and paying your rent in quarantine is inevitable.

Rocío Uribe, General Director of Quality Inmobiliaria Uribe, said that people looking to rent a property have adjusted their budget. If you were originally looking for apartments at 20,000 pesos a month, now consider options for renting up to 15,000 pesos.

This situation has caused us to change many things. For this reason, shares several alternatives. If you rent, these are the options to pay your rent during quarantine.

How were quarantine rentals managed?

Rocío Uribe said that due to lack of work from some tenants, payments were negotiated or costs adjusted. Among other things, they have agreed not to increase the rental price or to grant discounts on monthly payments.

In the first case, this negotiation can be concluded by signing a new contract that will work temporarily during the quarantine. For the second scenario, the discounts granted could be deferred for future payments.

The Mexico City Civil Code stipulates that the increase in income must not exceed 10 percent of the monthly amount. With this in mind, it is worth negotiating a quarantine price adjustment if your contract expires soon or if you have spoken to your landlord about possible increases.

The services apply to tenants and landlords

Rocío Uribe comments that the goal is to prevent people from leaving the buildings, as one is homeless and the other is without income. In addition, the tenant incurs additional costs such as moving or renting warehouses if the property is left.

For its part, the landlord can pass a few months without finding tenants for his property. And although it is uninhabited, maintenance costs and the payment of services arise. In the end, it is important that both parties come to a negotiation that will benefit both.

For those who want to rent in quarantine

For those who want to rent a property in quarantine, the possibilities of making agreements between landlords and tenants are realizable. Uribe proposes three options for owners:

  • Sign immediately and accept the price offered by new tenants – if it is in a reasonable range –

  • Accept with the original price and give the tenants grace for a month so that they can bear the cost of moving and services

  • Discounting a percentage in the first few months, postponing payment of this discount if it is suitable for both

It should be noted that due to the uncertainty, many are currently spending the additional money on priority purchases or emergency savings funds.

So the director explains that people bid below. If normally 500 pesos were negotiated below the rental price, offers can now be up to 2,000 pesos below.

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