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amaranto
Joined: 02 Jun 2009
Posts: 133
Location: M�xico, D.F.
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 Posted: Tue Mar 08, 2011 8:53 pm Post subject: Fianzas |
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Hi, guys, I was just wondering if any of you had experience with fianzas and/or fiadores, and how often one has to renew this requirement when renting.
I am getting close to the end of my first year at an apartment I really like. Last year, I signed the lease agreement and paid for a fianza to sign, as well, as per the requirements of the real estate company.
Now, I'm up for renewal and am being requested to pay this fee again. I pay my rent on time without exception, so I'm wondering if this is standard practice or they're trying to make some money off me. It just took me by surprise, I guess. |
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Guy Courchesne
Joined: 10 Mar 2003
Posts: 9650
Location: Mexico City
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| Posted: Tue Mar 08, 2011 9:40 pm Post subject: |
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It's common practice, yes. If you don't renew the fianza, you could try finding a guarantor. That person usually needs to own property in DF, which is not always easy to find if you're a visiting foreigner, I know.
Could you not negotiate with the landlord, offering perhaps to pay a deposit (that you expect to get back) instead of seeing the money disappear to the 3rd party company? |
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amaranto
Joined: 02 Jun 2009
Posts: 133
Location: M�xico, D.F.
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| Posted: Tue Mar 08, 2011 9:42 pm Post subject: |
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I plan on negotiating the fianza to see what happens. Also, I believe I know a couple of people who would sign as fiador if they accepted that.
Thanks! |
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Enchilada Potosina
Joined: 03 Aug 2010
Posts: 344
Location: Mexico
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| Posted: Tue Mar 08, 2011 10:44 pm Post subject: |
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| If you always pay rent on time you're in far stronger position to negociate than you think as it's very common here for people not to pay rent - knowing full well that the law protects them once they're living in a house whether they pay rent or not. At least this has been my experience. |
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TeresaLopez
Joined: 18 Apr 2010
Posts: 601
Location: Mexico City
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| Posted: Wed Mar 09, 2011 1:11 am Post subject: |
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| Enchilada Potosina wrote: |
| If you always pay rent on time you're in far stronger position to negociate than you think as it's very common here for people not to pay rent - knowing full well that the law protects them once they're living in a house whether they pay rent or not. At least this has been my experience. |
I am all for tenent�s rights, but this is sooooo true. We ended up having to pay a squatter who had been living in one of our apartments $20,000 pesos to move out, this after a YEAR in court, and being told it could take another two to three years to get her out. |
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Isla Guapa
Joined: 19 Apr 2010
Posts: 1520
Location: Mexico City o sea La Gran Manzana Mexicana
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| Posted: Wed Mar 09, 2011 2:46 am Post subject: |
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| TeresaLopez wrote: |
| Enchilada Potosina wrote: |
| If you always pay rent on time you're in far stronger position to negociate than you think as it's very common here for people not to pay rent - knowing full well that the law protects them once they're living in a house whether they pay rent or not. At least this has been my experience. |
I am all for tenent�s rights, but this is sooooo true. We ended up having to pay a squatter who had been living in one of our apartments $20,000 pesos to move out, this after a YEAR in court, and being told it could take another two to three years to get her out. |
That really sucks, Teresa. How did this person get access to your apartment? |
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amaranto
Joined: 02 Jun 2009
Posts: 133
Location: M�xico, D.F.
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| Posted: Wed Mar 09, 2011 3:59 pm Post subject: |
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| Thanks for all of your advice. I will let you know how it goes! |
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TeresaLopez
Joined: 18 Apr 2010
Posts: 601
Location: Mexico City
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| Posted: Wed Mar 09, 2011 4:28 pm Post subject: |
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| Isla Guapa wrote: |
| TeresaLopez wrote: |
| Enchilada Potosina wrote: |
| If you always pay rent on time you're in far stronger position to negociate than you think as it's very common here for people not to pay rent - knowing full well that the law protects them once they're living in a house whether they pay rent or not. At least this has been my experience. |
I am all for tenent�s rights, but this is sooooo true. We ended up having to pay a squatter who had been living in one of our apartments $20,000 pesos to move out, this after a YEAR in court, and being told it could take another two to three years to get her out. |
That really sucks, Teresa. How did this person get access to your apartment? |
It was rented to them by my brother in law, for a few months, while we were in the US. We have 2 apartments, and this one was the one that needed repairs, the woman said she only needed something short term, and was fine with it the way it was. She decided she didn�t want to move out, after all, quit paying rent and the battles began. My BIL did end up paying a portion of the money to get her out, since he created the problem in the first place. That apartment is now my office/sewing room and I have no plans in the near future to rent it out again, at least not without a far more formal rental agreement. |
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Dragonlady
Joined: 10 May 2004
Posts: 720
Location: Chillinfernow, Canada
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| Posted: Wed Mar 09, 2011 10:10 pm Post subject: |
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Last edited by Dragonlady on Sat Dec 03, 2011 3:55 pm; edited 2 times in total |
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Phil_K
Joined: 25 Jan 2007
Posts: 2041
Location: A World of my Own
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| Posted: Wed Mar 09, 2011 10:21 pm Post subject: |
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| "gee I don't have it right now" |
Unfortunately, that's all too common. Trying to get a house built in Michoac�n, we found that the money paid in advance to complete the first phase went into the same pocket (yes, pocket - he didn't have a bank account despite offering professional services!) as the money for shopping bills, beer, whatever, and got spent from the same pocket. That left the builder with the hope of having enough money to complete the job... he didn't.
Real hand-to-mouth stuff. |
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Guy Courchesne
Joined: 10 Mar 2003
Posts: 9650
Location: Mexico City
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| Posted: Wed Mar 09, 2011 10:29 pm Post subject: |
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| I have letters of reference confirming 6 years of paying rent on time, not causing damage, being a great tenant, yet twice I've been ripped off of damage deposits being returned - even from those who gave me references! Always the same story.. "gee I don't have it right now". Anywhere else in the world a damage deposit must be placed in trust - and when due be returned WITH interest paid. In both cases the rental agreement even stated that the deposit had to be returned within so many days. |
I've always taken a pre-emptive approach, informing the landlord that my deposit shall be used as my last month of rent upon leaving, usually a couple of weeks before the last month of rent is due. Only one landlord ever objected to my stance but I got my way anyway. |
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Dragonlady
Joined: 10 May 2004
Posts: 720
Location: Chillinfernow, Canada
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| Posted: Wed Mar 09, 2011 10:29 pm Post subject: |
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Last edited by Dragonlady on Sat Dec 03, 2011 3:55 pm; edited 1 time in total |
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Dragonlady
Joined: 10 May 2004
Posts: 720
Location: Chillinfernow, Canada
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| Posted: Wed Mar 09, 2011 10:33 pm Post subject: |
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Last edited by Dragonlady on Sat Dec 03, 2011 3:56 pm; edited 1 time in total |
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Isla Guapa
Joined: 19 Apr 2010
Posts: 1520
Location: Mexico City o sea La Gran Manzana Mexicana
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| Posted: Wed Mar 09, 2011 10:37 pm Post subject: |
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| I've had same problems with getting security deposits back in the US, so I always used the my security deposit to pay the last month's rent. |
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Dragonlady
Joined: 10 May 2004
Posts: 720
Location: Chillinfernow, Canada
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| Posted: Wed Mar 09, 2011 10:45 pm Post subject: |
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Last edited by Dragonlady on Sat Dec 03, 2011 3:56 pm; edited 1 time in total |
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