New Law Gets Tough On Buenos Aires Short-Term Rentals

Patrick Archer ba government, buenos aires events, competitiveness, hotels & casinos, real estate, tourism

Buenos Aires hotels have been losing ground and guests to owners of short-term apartment rentals ever since the 2001 financial crisis, but new legislation approved this week seeks to clamp down on alquileres temporarios and dramatically stem the turista tide.

The new law will require those who own and rent four or more Buenos Aires short-term rental properties to, among other things, add those units to a public registry, pay gross rental revenue and value added taxes, and achieve compliance with all city regulations regarding evacuation plans, emergency lighting, and guaranteed access for those with disabilities.

Even stricter regulations are looming for the 51 buildings built and sold specifically as short-term rental properties over the past decade. These properties will now be audited by a Government Control Agency (sounds painful) which will assign a star rating commensurate with the quality of accommodations and the level of amenities a guest would find in a comparable hotel in Buenos Aires.

The goal (of the new law) is to regulate an activity that, beginning now, will be public, regulated and subject to quality standards. More importantly, it will ensure security for tourists and for the neighbors who live in buildings with these types of short-term rentals,” said BA’s Cultural Minister adding, “It adds a legal framework to an activity that competes unfairly with the hotels.”

Another measure, which sounds eerily CEDIN-esque in terms of whitening, encourages owners of less than four Buenos Aires rental properties to declare their units and add them to the City’s official website which currently lists three dozen hotel properties including the Hilton Buenos Aires, the Alvear Palace and several chain properties. (Full Story in Spanish)

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