Colombia Forum

cafetero
Joined 2015
Posts: 2328

5 years ago

About those Rental prices

5 years ago

Generally speaking, the prices you find online in the Real Estate ads are up to 50% higher than what you would pay if you rented direct from the owner.

Just today on the street near my house I met an apartment owner who told me she has a 1-bedroom rental available for 500,000 pesos per month, no deposit, no fiador. Renter has to pay for natural gas, electric, water, and Internet, which will total about another 200,000 month.

However, for the past three months, that exact same apartment, was listed with an inmobileria for 750,000 pesos month not including services, plus one month deposit, and a fiador.

That is a first hand example of how the real estate companies are overcharging here in Colombia.

In U.S. it is common for the real estate broker to earn a commission on the first months rent. But, here in Colombia the Real Estate broker gets that extra 250,000 every month for the life of the lease. Super good business to be in if you can do it.

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