How will you pay the rent? Daily, weekly, bi-weekly, monthly? In Ecuador, for instance, most renters pay monthly. However, some years ago, there was a very popular arrangement where a renter could pay for a whole year’s rent, and get it back at the end of the year contract. It was called “anticresis." It was virtually a loan to the landlord, but the renter would only receive the principal. The advantage to the renter was that he would receive money back, and the advantage to the landlord was that he would have a lump sum for a large purchase, right away. The disadvantage(and BIG advantage to the landlord) was that at that time the local currency was fluctuating so erratically that a renter would not know if he would be gaining or losing money at the end of the year. To illustrate: let’s say you had to pay 400,000 sucres (the former currency of Ecuador) for a year’s worth of rent, and one US dollar was worth 400 sucres. A year later, the dollar is worth 800 sucres. You would have lost $500 in the transaction, if they gave you back the same 400,000 sucres. Solution? If it’s possible, pay in your own currency, if it’s known to be a stronger one than the local one.
Does your new place need repairs? A paint job? Will you have to pay extra for it to be done, or is your new landlord willing to take it out of your rent? Please make sure that you get all repairs, upgrades, changes to structure, changes in colors,etc., written down, with your landlord’s signature on it. You may find that some cultures resent written contracts, thinking that it is an implication of lack of trust. It’s up to you whether you want to trust them or not, but....try to get them to sign it anyway. It’s a protection for you and for them. You don’t have to be blustery about it; after all, you do want to be on good terms with your landlord. If he sees your seriousness and concern about being a conscientious renter, it will help him to be a conscientious landlord. Can’t hurt!
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