BuySellBA
Administrator
February Rent Adjustments: Contracts and Post-DNU Deals - Ambito Financiero
Source:
Nuevos ajustes para inquilinos en febrero: a cuánto se van los contratos de la ley de Alquileres y los pactos post DNU
Cómo impactan las actualizaciones por ICL. Cuáles son las claves para negociar en un escenario más flexible y qué tener presente. Cómo devolver el inmueble.
www.ambito.com
January 28, 2028
By José Luis Cieri
How do ICL updates impact the property? What are the keys to negotiating in a more flexible scenario and what should you keep in mind? How do you return the property?
Rent adjustments are once again at the heart of decisions for both tenants and landlords, amid new indices, flexible terms, and direct negotiation between the parties. Another adjustment is due in February.Pexels
February marks a new turning point for the rental market . Contracts signed under the 2020 Rental Law, repealed by Javier Milei , coexist with new agreements negotiated after Decree 70/2023, which feature more frequent adjustments negotiated between the parties. In this context, tenants face disparate adjustments, while landlords and intermediaries redefine their strategies in a scenario of greater contractual freedom.
According to official data from the Central Bank of Argentina (BCRA), the annual adjustment for the ICL (Contract for Liquidity) for February 2026 reaches 34.6% . This index applies to contracts signed up to December 2023, and this is the final update corresponding to February, as the contracts covered by this regulation will gradually expire at the end of 2026.
Meanwhile, contracts signed since January 2024 show significantly smaller , though more frequent, increases : 6.08% quarterly , 8.22% four-monthly and 12.81% semi-annually .
How much do rents rise in February?
The following are the reference values that will apply to tenants in cases where it is necessary to update the contract with the landlord:- Annual contract under ICL (Retired Rental Law).
- Initial rent: $400,000.
- Annual adjustment: 34.6%.
- New value: $538,400.
- Post-DNU contracts regarding a rental of $500,000.
- Quarterly adjustment (6.08%): $530,400.
- Quarterly adjustment (8.22%): $541,100.
- Semiannual adjustment (12.81%): $564,050.
The numbers reflect a structural change: legacy contracts concentrate strong and spaced-out increases, while new schemes distribute the adjustment throughout the year, with more moderate but sustained increases.
The ICL versus inflation
Alejandro Braña , a real estate expert and member of the Buenos Aires Real Estate Association, explained that the behavior of the ICL went through different stages since the release of the Rental Law.
Tenants are calculating how much they will have to pay starting next month for the upkeep of their homes. Pexels
He stated: “It has been quite volatile in the last two years. At the beginning, the CPI showed higher values than the ICL. About a year ago that trend began to reverse, they became equal, and then the ICL even moved above the CPI.”
Currently, that gap has almost disappeared. “In recent months there are practically no relevant differences in terms of quarterly or four-monthly updates,” added Braña, which explains why many landlords continue to use the BCRA's ICL even in new contracts.
Which negotiation method is best today?
With the current Emergency Decree, the choice of the update mechanism is no longer uniform. According to Braña, there is no single formula that is convenient for everyone.He explained: “Freedom of contract applies to both parties. A salaried employee with formal income is not the same as a self-employed worker or a business owner. The tenant's particular situation determines which arrangement is most appropriate.”
The specialist also highlighted a change in attitude on the part of property owners. “They are looking for families who can keep up with payments and take care of the property. In general, they are willing to negotiate the frequency and index if that guarantees stability,” he stated. In that context, he considered the quarterly adjustments based on the Central Bank's ICL (Consumer Price Index) to be a balanced option .
Aligned
Josefina Pantano , president of the Real Estate Federation of the Argentine Republic (FIRA), agreed that during 2025 the ICL showed a behavior more in line with the reality of the market.“Applied over periods of three or four months, the index maintained a closer relationship with real values. In some periods it outperformed the market and in others it fell short, influenced by increased supply or specific drops in demand,” he explained.
Regarding the most used methods at the start of the year, Pantano noted that "quarterly or four-monthly adjustments by CPI or ICL continue to predominate," although he highlighted the emergence of staggered private schemes , especially in commercial rentals or higher value properties.
What to look for when signing a contract
With more flexible rules, the contract has once again taken center stage. To avoid future conflicts, experts agree that certain points must be clearly established.Braña listed some of the most relevant ones: penalties for late payment, from when they apply and at what rate; obligation to present proof of expenses, services and rates; conditions for owner visits to the property; and specific clauses on pets and disturbing noises, a frequent source of conflict in buildings.
Two-bedroom apartments are among the most sought-after for both rental and purchase. Valencia Neira Real Estate
Pantano added that, following the Emergency Decree, “the will of the parties prevails,” making it crucial to detail commitments regarding use, maintenance, responsibilities, and penalties for breaches. “The more detailed the contract, the less room for disagreements,” he stated.
The most contentious point: the refund
From the real estate agency Otero Rossi CB, Josefina Ortale , rental manager, focused on the aspect that generates the most tension at the end of the contractual relationship: the condition of the property.“The ICL slowed down and in some months fell below inflation. That's why, as contracts expire, they tend to be replaced by CPI with quarterly or four-monthly adjustments,” he explained first.
Regarding the refund, he was emphatic: “The deposit must always be returned. It cannot be applied to rent or compensation. The tenant must return the property in good condition, without debts, and with the services disconnected.”
Ortale explained that contracts typically include three key tools: a clause regarding painting , a complete inventory, and a property condition checklist. “The tenant has 30 days to report any defects upon moving in. Photos and videos serve as evidence for both parties,” she noted.
In a context of high costs, this point becomes even more relevant. He warned: “Painting an apartment can cost several months' rent. A month's deposit often isn't even enough to cover outstanding expenses and utilities.”
What points to clarify when signing a new rental agreement
When negotiating a new agreement, tenants and landlords should pay special attention to a number of key clauses to avoid future conflicts and provide predictability to the contractual relationship:
A couple reviews and signs a rental agreement, a key step in defining conditions, adjustments, and obligations in a market with more flexible rules. Pexels
- Late payments and penalties: expressly state what is considered late payment, from when penalty interest is applied and under what criteria it is calculated, whether a fixed percentage or a reference rate, such as that of Banco Nación for fixed-term deposits.
- Monthly payment receipts: Define the tenant's obligation to send the landlord proof of payment for expenses, services, and taxes. Since many bills no longer arrive in physical format, it is essential to agree on the use of online banking, digital wallets, or bank transfers.
- Landlord visits: If the contract contemplates the possibility of the landlord visiting the property to verify its condition, the notification mechanism, the required advance notice and the conditions of these visits must be clearly specified to avoid unnecessary arguments.
- Pets and noise disturbances: a frequent point of conflict in apartment buildings. It's advisable to clearly state whether pets are allowed and under what conditions, taking into account the co-ownership regulations and building rules, as well as the guidelines for coexistence related to noise and use of the property.
www.buysellba.com
