Would you like to pay less than 10,000 pesos a month in rent? These colonies are for you

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Were you moving out before the outbreak of coronavirus disease (COVID-19) started? In we tell you which are the areas of Mexico City where you can find cheap rents.

Would you like to pay less than 10,000 pesos a month in rent? These colonies are for you
Would you like to pay less than 10,000 pesos a month in rent? These colonies are for you

According to the latest edition of the Real Estate Market Reports (RMI) 2020, in the areas of Santa María la Ribera, San Rafael-Azcapotzalco, Coyoacán, Portales, Nuevo Polanco and Mixcoac you can find properties for rent from 6,010 pesos, up to 14,426 pesos a month.

For this edition of the RMI, we analyze the average rental prices of 15 of the most dynamic areas of the country's capital. Among them are Santa María la Ribera, San Rafael-Azcapotzalco, Condesa, Santa Fe, Nuevo Polanco, Nápoles and nine others.

Do you want to pay less than 10,000 pesos a month?

In the areas of Santa María la Ribera and San Rafael-Azcapotzalco, located a few minutes from the Historic Center of CDMX, there are neighborhoods where you can rent for less than 10,000 pesos a month.

These are Agriculture and Tlatilco, located in the Santa María la Ribera area. In them, the average price of an apartment used for rent ranges from 6,010 to 8,111 pesos per month.

If you prefer a new one, you can search in the Atlampa neighborhood, where the rent is 8,264 pesos per month.

Other options are A Home for Us and Nextitla located in the San Rafael-Azcapotzalco area. In the first, the average cost of a used rental apartment is 9,899 pesos per month. In the second, the price range between a new and used one goes from 7,527 pesos to 10,312 pesos per month.

Because the rent must be paid month by month Leonardo González, Real Estate analyst at , recommends not to allocate more than 30 percent of the monthly income to this financial obligation. According to him, that percentage should cover the total amount of the rent.

In addition, by having the rental expenses budgeted, other better quality goods and services can be consumed.

Based on the above, he explained that to pay a monthly income of 6,010 pesos, you must have a monthly income of 20,000 pesos. To cover a rental of 9,899 pesos, the income must approach 33,000 pesos per month.

Is your budget greater than 10,000 pesos?

If your budget ranges from 10,000 to 14,000 pesos, you can find an apartment in the Mixcoac, Santa María la Ribera, Coyoacán, San Rafael-Azcapotzalco, Portales and Nuevo Polanco areas.

The Mixcoac zone includes the Alfonso XIII, Molino de Rosas and San Juan colonies. In them, the average cost of income ranges from 10,398 to 13,900 pesos.

In the Santa María la Ribera area there are five neighborhoods where prices range from 10,606 pesos to 13,637 pesos. These are Agriculture, Atlampa, Santa María Insurgentes, Del Gas and Santa María la Ribera.

On the other hand, living in Barrio de la Concepción and Barrio San Lucas – neighborhoods in the Coyoacán area – has an average cost that ranges from 13,199 to 14,426 pesos a month.

In Popotla and San Rafael, belonging to the San Rafael-Azcapotzalco area, there are also properties that fit your pocket since the average cost of rent for the apartments ranges from 11,767 pesos to 14,000 pesos.

According to the analysis, the Portales area is divided into north, south and east. In them, the rent has an average price that goes from 12,222 to 13,845 pesos per month.

Finally, in Nuevo Polanco – the area where business centers, known in English as the Central Business District, predominate – is the Mariano Escobedo neighborhood, where the average rent is 14,426 pesos.

How to negotiate with your landlord during COVID-19?

According to Rocío Uribe, general director of Quality Inmobiliaria Uribe, a tip for these moments of crisis is to negotiate payment terms with your landlord. For example, for about three or four months do not give the full rent and cover that difference in the subsequent months.

You can also reach an agreement regarding default interest and amounts.

It is very important that any negotiation that you make is written in the lease through an addendum that specifies dates, conditions and percentages and charges.

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