In June 2023, it will be three years since the enactment of the new Rental Law, but it left many owners in crisis. While the supply of the traditional rental market continues to decline, the supply of temporary rentals rose more than 45% compared to last year, according to data from the Real Estate Monitor.
It is that the disadvantageous conditions made many of the owners withdraw their properties from the rental and decide to sell it or directly leave it empty. The collapse in the supply of traditional rental housing that occurred since the enactment of the Rental Law is widespread throughout the country and has resulted in an increase in prices of almost 300% in the last two years and an almost non-existent vacancy .
Due to this situation, many owners decided to put their property under the temporary rental modality . Although it has the disadvantage of instability due to not having a guaranteed long-term operation and the inconvenience of having to be daily after collection together with the management of new tenants, there are several reasons that lead to more and more people joining to this trend:
As it does not fall under the jurisdiction of the norm decreed in 2020, the contract can be with daily dollarized rates
This allows double or triple the income of conventional rental.
Does not require a three-year contract
Allows constant price updates
This is how “temporary rental” is invading the Buenos Aires real estate market and expanding throughout the country. The most used modality is the use of platforms such as Airbnb , Booking and Vrbo . According to the numbers of one of them between September and December 2022, in just three months the rents offered in CABA for “complete homes” increased by 20% with 18,000 options by the end of last year.
How to charge temporary rentals in dollars
One of the obstacles that owners who put their properties up for tourist rental see is being able to collect that income in Argentina when they do so through one of these international platforms.
Currently, most hosts in Argentina receive the amounts of their accommodation in dollars through sites like Paypal or Wise, but these have several disadvantages. One of the most important is that, unless you have an account abroad, it is difficult to get hold of these funds, leaving the balance trapped in the platform.
The new solution: the digital dollar
This is how many users began to use this new trick through stable cryptocurrencies (with dollar parity).
Through the solution provided by Bitwage -the pioneer platform for payment of fees in cryptocurrencies and digital dollars most chosen by workers, freelancers and service exporters-, hosts can obtain a temporary account in the United States, without having to open one. , set how to receive the funds (in this case, digital dollar: USDC, USDT or DAI) and in which wallet to receive it.
This is how they can collect their leases through Bitwage and it, in less than 24 hours, will turn said payment into crypto, being able to receive digital dollars in wallets they own, have custody of their money and then decide to exchange it for physical bills, without lose value in high commissions.
Adrián B., is a host who found in cryptocurrencies the solution to be able to receive payments quickly, securely and without discounts: “My experience was very good because I was finally able to receive payment from Airbnb without losing high commissions to do so Cash here,” he says.