Rules for renting an Unfurnished Apartment in Colombia

Generally speaking rent to foreigners is allowed with out cosigners here in Colombia if they pay 6 months up front. This is the practice in Medellin. A good agency will then allow persons to pay month by month after that. Usually they don’t allow Colombians to pay 6 months up front, that option is only for foreigners. Colombians ALWAYS HAVE TO HAVE A cosigner with 2 properties, or 2 cosigners with 1 property each.

Its difficult to get people out of apartments here so the owners protect themselves like this. They also can get insurance for bad renters, but they must have the cosigners. Agencies if they don’t have the insurance are responsible to the owners for the rent regardless if they don’t pay.

The Credit system and court system don’t help so things are a bit behind here, so owners and agencies protect themselves like this.

 

One response to this post.

  1. Posted by griffbos on February 12, 2011 at 2:08 pm

    is this new, I tried renting an apartment listed with one of the largest agencies in Medellin, I was offering to pay 6 months up front and they required two Colombian cosigners still and still denied me

    Reply

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