Property rental prices remain unchanged for the first half of the year from last year prices. So keep this in mind if your lease is ending and you want an extension. Be smart, and realize that prices remain the same despite many Venezuelans renting many apartments. So despite this fact, supply remains higher than demand.
How should you negotiate your lease extension?
Simply mention this article (source posted below), and also say that inflation is very low. And as a matter of fact, inflation is so low the past few years we saw some economic quarters with negative inflation.
If you are renting an apartment for the first time, and rent increases are negotiated then say you'll accept rental increases based on yearly inflation. There is a government entity that states quarterly and yearly inflation so reference it and have it stipulated in the contract.
Again, be smart, don't be desperate during negotiation, and simply walk away if you don't like the terms. There are many more available properties.
If your own city/town contradicts this reality for the capital then do share your experiences
Source
Quito 2018 Rental Prices Remain Unchanged From Last Year
Guys, I referenced this information when I rented my new place. I wanted a long term contract 6 years and the landlord agreed with 2+4 contract but he wanted to increase the cost by a certain amount after initial 2 years.
I told him that one of the main reasons that I chose to live in Ecuador is because the inflation is very low. So, I negotiated that the rent increase after the first 2 years to be determined by inflation.
I used the 6 years because I was serious but also to make him comfortable and told him that he should expect his rent on time and not a day late.
So expats in Quito, if you are renewing your contracts do not pay more than inflation.
And reference the information on this post. Let's keep the rent low in the city especially in sough after centro north!
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