Wed. Sep 27th, 2023
    The Benefits of Using a Real Estate Agency for Renting in Colombia

    According to the National Administrative Department of Statistics (DANE), renting has become one of the most popular housing options in Colombia. The survey states that 39% of families in the country live in rental properties, while only 42.2% own their own homes, which is a decrease compared to the previous year. This high demand for rental properties has strengthened the real estate sector and made it attractive to those seeking economic growth opportunities.

    Investing in real estate is one of the most appealing options for Colombians since property values increase by approximately 4% each year. While many people are interested in investing in real estate, they are concerned about the difficulties that may arise in the process. There are two main ways to do it: directly or through a real estate agency.

    Renting directly requires a great effort and responsibility on the part of the property owner. They have to undertake tasks such as property valuation to establish an appropriate price, find ways to promote the apartment, collect necessary documents from potential tenants, draft a written contract, and be available to show the property and supervise its condition. Although this option provides more control over the process, it also demands constant time and dedication.

    On the other hand, renting through a real estate agency may involve additional costs, but it provides greater security and peace of mind. These institutions take care of the entire rental process, verify the backgrounds of candidates, ensure that the contract meets legal requirements, and handle its monitoring and compliance. Furthermore, they act as intermediaries in case of problems and offer legal support.

    In conclusion, although renting directly may offer greater control, it is recommended to opt for a real estate agency due to the security and convenience it provides. While it may involve additional costs, hiring a real estate agency saves time and avoids potential future inconvenience.

    – National Administrative Department of Statistics (DANE)