Thread: Rental Apartment Expenses

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  1. #15
    A friend of mine rents an office on Puerto Madero, the 800 block of A. M. Justo.

    He pays 4700 pesos rent and 600 pesos expenses for 80 square metres. (1st floor) and it includes parking for one car

  2. #14
    Quote Originally Posted by Seaman
    Thomaso,

    You are correct in the whole explanation (as you know;)) I was waiting for Redondo to come with the same story, but I think he did not know how expenses are calculated.
    I did know as you could read it in my last post.

    I think Puerto Madero is about 9-10 peso a m2 now, it was about 4-5 2 years ago. So prices have basically doubled in little over 2 years. It seems to me there is still room for further hikes

  3. #13
    Thomaso,

    You are correct in the whole explanation (as you know;) ) I was waiting for Redondo to come with the same story, but I think he did not know how expenses are calculated.

    A friend of mine who lives in a nice 140m2 apartment building with 24/7 security in Belgrano pays about $450 a month. Also for them the highest costs are the personnel costs. (And these costs are totally unrelated to the costs of the property. The only costs related to the property are the property taxes of the common areas (like the garden etc)

    I think that even in Puerto Madero it would be "difficult" to find a place where you have to pay US$500 a month in expenses. Unless it is a small building with 2 guards 24/7.

  4. #12
    Apartment expenses are based on personnel costs, security costs, maintenance, elevators, garages, pools, gyms, suanas, storage areas, insurance costs, common area utility costs. The monthly total is divided by total sq meters in apartments for a sq meter cost and then to each unit based on their sq meters. So if it is 5 pesos per sq meter for the whole building and you have 100 sq meters, you pay 500 pesos. Remember personnel costs are 1.5 time more for Sat and 2x for Sunday so weekend coverage really adds up. As well employees get more for being older and having kids! Don't forget the 30 days vacation each year when you have to pay a replacement. By the way the gov't has given porters 18 and 19 percent raises each of the last two years.

    My building has one traditional elevator, no garage, no pool, gym etc. Potera costs are our highest line item.

    I would guess that the newer buildings can get pretty expensive especially if you have a bunch of people running around trimming / landscaping, polishing, uniformed security, pools, etc.

    My place is 115 sq. Meters and I pay 198 pesos monthly, here is info for a 500,000 property in recoleta from a BA real estate agent webpage:

    Expenses $1100 and Bimonthly local Tax $150

    Puerto Madero could be close to 500 dollars for a big place. I don't care to find out.

  5. #11
    Quote Originally Posted by Seaman
    The expenses are normally not 100% related to the value of the property. So a property worth US$500k does not have 5x higher expenses then a property worth US$100k.

    But again, please explain where you base your statement on.
    No it's related to the square metres of the appartment and of the building and staff members, etc.

    And I base it on what I need to pay if I buy an appartment in Puerto Madero

  6. #10
    The expenses are normally not 100% related to the value of the property. So a property worth US$500k does not have 5x higher expenses then a property worth US$100k.

    But again, please explain where you base your statement on.

  7. #9
    Quote Originally Posted by Seaman
    And I say it might well be less then US$500.
    If you buy an 100 metre appartment in Puerto Madero you are looking at at least 500 dollars. I don't think it will be less for an appartment which is more expensive and prolly bigger.

  8. #8
    And I say it might well be less than US$500.

  9. #7
    I said at least.

  10. #6
    Quote Originally Posted by Redondo
    Yes. Did you like my advice?
    NO.

    You know why? Because I do not think you can base your statements on anything. Why does a US$450k apartment cost US$500 in expenses? Please explain.

  11. #5
    Senior Member


    Posts: 547
    Quote Originally Posted by Sidney
    and 100% occupancy.
    Of 365 days, The apartment was rented for 360. Business must be considered from different perspectives, just like a girl. The apartment it's very well maintained and that's also important, with an almost full occupancy, and most important, the apartment was not paid for the current value. There are a lot of variables to consider, but certanly, my original point it's that US$275 per night only high-end hotels as the alvear hotel charges, and the difference it's they do not rent rooms, they charge for a service.

  12. #4
    Quote Originally Posted by Seaman
    Redondo,

    You said in this post "don't really have an idea about expenses", and now you are on the other "side" advising people?
    Yes. Did you like my advice?

  13. #3
    Redondo,

    You said in this post "don't really have an idea about expenses", and now you are on the other "side" advising people?
    Last edited by Seaman; 09-18-07 at 14:35. Reason: Screwed up URL because of grammar checking script!

  14. #2
    Quote Originally Posted by Sidney
    and 100% occupancy. And considerably more per month if high taxes are in effect and high management fees in effect. My standards are conservative for a stable country, but academically correct. For a high risk country, you should receive a considerably higher return than I outlined above.
    I think for a 450k appartment you should be looking at atleast 500 dollar a month of expenses (6000 dollar a year) 100% occupancy-rate is probally not possible as well. I would think most appartments get a 70-80% rate now.

    And you need to send money to a country that:

    A: Is not politically and financially stable.

    B: You can't be sure you can take out the money.

    C: Has high fluctuances on property value.

    D: Has a moron president, with a even bigger moron wife who becomes president.

    E: A currency that has lost about 20% over the dollar in the last 5 years.

    F: A tax system that taxes on worldwide income.

  15. #1
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