Renting an apartment: discover the benefits!

What are the benefits of renting an apartment ? Did you know that between 2017 and 2019, the number of properties in Brazil increased by 5.3%? It may seem like a low percentage, but when we turn it into numbers, it represents almost 13 million homes.

According to data released by the Continuous National Household Sample Survey (PNAD), the majority of these properties are concentrated in the Southeast: 20.5% located in São Paulo , Rio de Janeiro, Minas Gerais and Espírito Santo are rented.

But after all, what justifies the increase in this demand?

Renting an apartment brings several economic benefits to tenants, especially those who are moving for the first time . This is especially true in apartments, with a variety of size options available.

Furthermore, there are specific properties built with the aim of not only providing low-cost housing, but also enabling coexistence and the exchange of experiences between people of different ages and personalities: colivings .

Are you curious to learn more about the benefits of renting an apartment? Then you've come to the right place!

In this text, we will explain everything you need to know about this process: from the types of leases that exist, to what our legislation says about apartment rentals - and of course, all the benefits that this type of lease provides.

Before we begin, check out the topics that will be covered:

● What types of apartments are available for rent?

● What does the law say about renting an apartment?

● How does the rental agreement work?

● What are the advantages of renting an apartment?

Let's get started!

What types of apartments are available for rent?

The first thing you need to know before renting an apartment is which models are available on the market and, most importantly, their characteristics. Generally speaking, there are 7 main types: standard apartments; studio apartments; flats; penthouses; lofts; studios; garden apartments; and duplex/triplex apartments.

Some of these models may seem very similar, but don't be fooled. Each one has very distinct characteristics and its own advantages, in addition to being recommended according to each tenant's profile and needs. Therefore, let's understand each one better.

1. Standard apartments

With well-defined areas, standard apartments are one of the most sought after in all of Brazil.

This is because these models feature a simple and well-designed layout, with all the rooms very well divided in order to provide greater privacy to the residents. This makes these apartments easy to decorate, and consequently, they are in greater demand.

“A profile that usually buys this type of apartment is couples who have just exchanged rings, or couples with one or two children. We can say that this is a B and, sometimes, C audience,” says architect Gigi Gorenstein in an interview with ZAP Imóveis.

2. Studio or Studio Apartment

Studio apartments are completely different models from the previous item. The main characteristic of these apartments is that they have a very small area, usually with a single room without internal divisions, and whose average size varies between 20m² and 30m².

Despite being small, this makes these apartments much more economical than all the models we will mention. Therefore, they become a great option for those who want to move and do not have a lot of money to spend, such as students, for example.

3. Flat

Just like studio apartments, flats are also apartments that have a small area. However, the main characteristic of this model - also known as an aparthotel - is the fact that they are located in buildings that offer hotel services.

In practice, they have all the facilities offered in hotels, such as meals, daily cleaning and laundry, for example, in addition to being fully furnished. All of this provides greater practicality and convenience to tenants, contributing to their better quality of life.

4. Loft

Lofts are very similar to studio apartments, as they are apartments that do not have internal divisions to separate their rooms. However, the main difference between them is that this model is much more spacious. In this way, the lack of divisions provides a feeling of spaciousness.

This feature was inspired by old American industrial warehouses from the 1960s, which were completely renovated to become residential.

5. Coverage

Penthouses are considered the most expensive properties in the world.

Located on the top floor of the buildings, they have a much larger space than the other apartments in the building, which allows them to provide tenants with some luxuries that are not possible in other models, such as building a private swimming pool.

There are two types of penthouse available on the market: duplex, which has two floors divided by a staircase or private elevator; and the so-called penthouse, which has a single floor occupying the entire space of the building.

6. Garden

In contrast to penthouses, garden apartments - also known as giardinos - are apartments located on the ground floor of a building. Many people believe that this means that tenants have no privacy, but don't be fooled.

These models provide several advantages to their residents, such as:

● Easy access;

● Have a larger area than the other units in the building;

● Exclusive access to the external area of ​​the building;

● Enable the creation of a garden, a small backyard or a vegetable garden;

● Lowest price.

7. Duplex / triplex

As their names suggest, duplex and triplex apartments have the same characteristics as the standard apartments, but occupy two or three floors of the building, respectively, all connected by stairs.

Because they have more internal space, they are usually sought after by families so that they can have greater comfort and even invest in private leisure areas, such as a gym or a small spa, for example.

Now that we understand the differences between each of these models, let's see what our law says about property rentals.

What does the law say about renting an apartment?

The entire process and rules for renting properties in Brazil are governed by a specific law: Law 8,245/1991 .

Popularly known as the Tenancy Law, it is responsible for regulating the urban commercial and residential rental market in the country, establishing all the rules to be followed by owners and tenants so that the deal can be closed.

All of these rules are gathered in a very important document for this process: the rental agreement . I will explain more about it in the next topic, but first, let's understand a little more about some important points about the Tenancy Law.

What types of leases are provided for by law?

If you want to rent a property, the first thing you need to know are the rental possibilities provided for by law. According to the Tenancy Law, there are three rental options: residential, non-residential, and seasonal.

Residential leasing is one of the most common and sought-after options in the real estate market, as in addition to being aimed at renting for housing, it allows for some flexibility during this process.

As an example, this modality allows the rental contract to be adjusted verbally or in writing, for a fixed or indefinite period, and for a period of less than or more than 30 months - in addition to allowing the termination of this document by mutual agreement between the parties.

Non-residential leasing, as its name suggests, is aimed at any type of activity that is not residential (industries, offices, etc.). Unlike the previous model, this model allows the tenant to renew the contract for the same period that was signed for the first time, as long as the contract has been signed in writing and for a specific period.

In the latest model, seasonal rental is intended for the tenant's temporary residence, that is, when the tenant wishes to stay at the location for a short period of time.

This type of rental is highly sought after by people who want a place to enjoy leisure activities, take courses, receive health treatments, or while they wait for construction work to be completed on their property, for example. Therefore, your contract can only be established for a maximum period of 90 days.

What are the rights and duties of tenants?

Regardless of the rental model you choose, the Tenancy Law determines all the rights and duties of tenants that must be fulfilled throughout the entire property rental process.

Much more than serving as legal devices, these rules are the great differentiator that makes renting properties so advantageous! This is because in practice, they serve as a guarantee that both parties involved in this process will be protected and aware of their responsibilities, providing housing security on a daily basis.

Among the duties, the main ones to be fulfilled are: maintaining the property's maintenance, avoiding any carelessness that could damage it; keeping the rent, condominium fees and other expenses established in the contract up to date; and complying with the advance notice of at least 30 days if you wish to move.

In turn, the main rights of every tenant are: to receive the property in perfect conditions of use and to prove this through an inspection; exemption from payment of extra condominium expenses such as cleaning and maintenance, which must be borne by the tenant; and priority of purchase in the sale of a property (the landlord must inform the tenant of the intention to sell and, from the notification, the tenant has 30 days to state whether or not he wishes to buy the property and carry out the procedures for acquisition).

These rules and many other regulations must be clearly stated in the rental agreement as a form of guarantee for the parties involved. The detailed preparation of this document is extremely important to avoid misunderstandings, so continue reading as we will explain the main characteristics of the rental agreement.

How does the rental agreement work?

As explained above, the rental agreement is the document that establishes and formalizes the process of renting urban properties in the country. For it to work effectively, there are a series of rules and items that must be expressed to legalize the agreement. They are:

● Breach of contract

● Eviction actions

● Tenant and landlord guarantees

● Rights and duties of tenants and landlords

In this topic, we will explain the main rules for drafting a rental agreement. To learn more about the other items, we have a complete text with everything you need to know about this document! Click and see: Rental agreement: learn how it works!

Now, let's get down to business. To prepare this document, the main items that should not be missing are: deadline; fine; adjustment and fees.

The first item is related to determining a term for the lease agreement. Typically, this term is 30 months, but shorter periods can be negotiated through negotiation.

When this period ends, our legislation allows the owner to review the rental price as they wish. In addition, the owner also has the right to accept the increase and renew the contract, or simply leave the premises.

The second item refers to the fine, that is, the specification of the charging of a certain amount in the event of termination of the agreement, as a way of guaranteeing security for the lessor.

Normally, this fine is charged if the tenant wants to leave the property and does not comply with the prior notice, and its value is calculated based on the following formula:

● Fine = (rent amount x 3) ÷ months of contract x months remaining on contract

The adjustment, in turn, is a change in the value of the property's rent, the rate of which is calculated based on one of the inflation indexes available on the market. Nowadays, one of the most widely used for annual adjustments of rental contracts is the IPCA (Broad National Consumer Price Index).

Another item that should be highlighted in the rental agreement is the rental guarantees that this document offers, which aim to protect both the landlord and the tenant during this process. In summary, the most common guarantees are: guarantor , insurance bond , security deposit and the contract without guarantee .

Finally, every rental agreement must include fees - or requirements - to be charged when the tenant leaves. For example, one of the most common fees required by landlords is a fee for painting/renovating the property, so that the place remains in good condition and is handed over in perfect condition to the next tenant.

If you've made it this far, you may have wondered why we've explained so many legal and bureaucratic issues about renting properties. In practice, all of these rules are essential to ensure not only the safety of the parties involved, but also to ensure good housing for the tenants and provide all the advantages of renting.

I know you’re curious, so let’s finally discover the benefits of renting a property!

What are the advantages of renting an apartment?

Property rental has been growing more and more in the country in recent years, with a huge increase in demand especially for people who are moving for the first time .

This is happening because renting an apartment brings several benefits to tenants. Among them, we can mention:

● Flexibility in the contract

● Greater practicality in everyday life

● Lower property costs

The first major advantage is having greater flexibility in the lease agreement. In addition to the term of the contract usually being shorter than when purchasing real estate, the Tenancy Law allows these decisions and other changes to the contract through negotiation.

This way, the tenant will have greater freedom if they want to leave the property before the set time or if they want to renew it without major concerns, making the entire process less bureaucratic and easier.

So, even if the rent and daily costs are a little high, you won't have to worry about furnishing the entire apartment and spending more money on labor services and furniture installation, for example.

The second benefit that is highly valued by tenants: having greater convenience in their daily lives. By renting a property that already has everything you need, your move-in time will be much shorter, which will make the process much quicker and easier.

Finally, the last advantage - and perhaps one of the most important - is a significant reduction in the overall cost of the property. This is because all additional costs such as renovations, repairs or maintenance are the sole responsibility of the landlord. And of course, the rent will be much lower than what you would spend on the installment of your own apartment.

Here, an important point to be highlighted is the fact that many people believe that when renting an apartment their money would be “thrown away”, but this thinking is completely wrong.

Most of the time, the amount spent monthly on rent is much cheaper than financing your own property. This is because, in practice, almost 90% of the monthly payment for the first installments of your own home is the interest on the financing, which is also a cost and money that is not being directly invested in the property, despite the feeling that it is being paid together with the value of the property.

Therefore, we can say that the tenant will have financial savings when renting a property, with daily costs much lower than those incurred by buying an apartment.

How can Citas help with the apartment rental process?

With these advantages, there is no denying that renting an apartment is extremely beneficial! To help our citizens find their dream apartments, Citas is committed to offering all the necessary assistance throughout the entire rental process - and even in the day-to-day lives of residents.

Our mission is to take care of all building management, from integration events to preventive maintenance and repairs in our units - located in strategic points of the city equipped with all necessary furniture. All this to guarantee the best living experience for our tenants, ensuring comfort and practicality in their daily lives.

Want to rent an apartment that fits your budget? Just click here and we'll get in touch!

Conclusion

There are many benefits to renting an apartment! Especially in financial matters, allowing you to save more. To do this, however, it is necessary to understand the main rules that involve the rental process. In addition, it is always good to be careful not to take risks during this process.

In this text, we explain what our legislation says about property rentals, the main rental models available on the market, the rules involving the rental contract - and of course - the main advantages you will have!

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