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How does real estate rental work in Chile? – Placement Immo

How does real estate rental work in Chile?

Chile ranks 17th among OECD countries and has the highest percentage of homeowners (no credit), but many are still well on their way to reaching their homeownership goals. Sometimes this is difficult to achieve because you don’t have a foot in the house, don’t have access to a mortgage loan, or have other obstacles. However, in these cases, there are alternatives: Chile Real Estate Rentals.

Today we will tell you what it is, its requirements and How to rent real estate in Chile, an option that will help us become homeowners.

How does real estate rental work in Chile?

First of all, a housing lease contract is a combination of two types of contracts: a lease contract and a contract of sale and purchase.

Let’s take a closer look at this. NS Chile Real Estate Rentals State assistance to people who can pay their rent but cannot save enough to buy their first home.

Real estate leasing allows us to finance a new or used home as long as it is in an urban area and is within the price range permitted by law.

Now here’s how leasing works in a very comprehensive and generic way:

  • We search (according to the criteria above) our preferred home and agree with the seller on price and delivery time.
  • We will then contact the real estate company we hire to evaluate and approve your application if you meet the requirements.
  • The real estate agency then enters into a rental agreement that promises to buy and sell the house on pre-agreed terms.

In other words, it is a lease because it pays the monthly rent as if it were a monthly rent, but all of this is tied to a sales promise that defines details such as final price, monthly payment, and term.

For example, you can choose a period of 8 to 25 years, during which time the house price will remain exactly the same, but the value will increase thanks to the audit.

Advantages of renting

Among the main positive aspects of renting real estate in Chile, we can highlight:

  • We don’t need feet.
  • The monthly payment amount is fixed, and as long as the law is in effect, it does not allow to amend any sales or rental commitments.
  • Monthly payments are very similar to traditional royalties.
  • Automatically access housing assistance provided by the state of Chile, which accounts for a percentage of each payout.
  • The term selection is free and can be 8, 12, 15, 20 or 25 years.

Rental Accommodation: Requirements

To access this mod, you must meet certain home-specific requirements, but in general, what you will need to select rental accommodations is the following (basic requirements):

  • We cannot own a home and have never used government subsidies to secure a home in the past.
  • We must prove that we have a stable income, work as an employee, provide services and receive salaries in the form of commissions, or conduct business activities.
  • Maintain positive business relationships.
  • You must have an acceptable level of debt in the financial system.

If you have any questions about this easy investment We can help you find professional housing advice and also get the best investment opportunities.