How to properly find an apartment in Medellín
The fight for long-term housing in Medellín is real. Having a roof over your head is a basic need, but getting an apartment at a good price is not easy.
Therefore, in this article we will talk about:
- Understanding the real estate market in Medellín (with video)
- Requirements for car rental in Medellín
- Furnished apartment in Medellín (with video)
- Unfurnished apartment in Medellín (with video)
- How do we get to our apartment?320 USD/m.(with videos)
As we know, there are many different things to consider when buying an apartment in Medellin.personal experienceand stories from our clients. We know the pitfalls of renting an apartment in Colombia, but specifically in Medellín.
The real estate market in Medellín
When it comes to renting apartments, there are two completely different real estate markets.
The markets differ compared to the US market, where many apartments are rented through an MLS service.
In Colombia there are some MLS sites likeRoot-Granjaofind 24. But these sites are not organized in the way we are used to as foreigners.
From my own experience I can tell you if you can check or inquire about 10 apartments directly by emailWhatsApp, you'll get a response from maybe two people. On the other hand, many ads are outdated and the images are terrible. So going through it is like shooting an arrow in the dark.
And once you've made an appointment, you can be 50% sure that the person will be at least 30 minutes late. Imagine trying to find your apartment like this. It will be weeks before you find an apartment you like.
a lot of paperwork
When you have finally found a suitable apartment, you will be required to fill out a lot of paperwork. Real estate agencies usually ask for a Colombian guarantor or a high deposit (usually around 7 times, but up to 15 times the monthly rent).
Other requirements that are not talked about much are 6 months of bank statements (this only applies to Colombian banks). Therefore, it is even more difficult to find an apartment without furniture.
The Colombian co-signer (Garant)
Another thing that many expats don't know about their home countries is that for most rental contracts (mainly unfurnished apartments) it is necessary to have a Colombian co-signer, called a guarantor.
As I said before, this is not the only option, but above all it is the best option to rent an apartment. Of course, many foreigners do not have a Colombian sponsor (guarantor), which makes it very difficult for us.
Sometimes they ask us if they can grab someone like a random Colombian from the street. Unfortunately, this is not the case, since in most cases, the Colombian guarantor will need to prove that he owns a property or/and has an income above a specific rate (usually 2 or 3 times the monthly rent).
Beware of foreign offers
On the other hand, foreign investors saw this problem and set up their own.MLS Services. However, these usually only rent furnished apartments and are usually more expensive than the local market. In an understandable way because the service is better.
On the other hand, the cost of rent is usually the biggest expense an expat has, so getting a cheap offer should be a high priority.
The other thing is that many websites offer quality apartments and these are usually the ones you can find with a google search. Many customers came and told us that the prices are like in the USA. I usually ask where you researched it and the answer is always google.
So try to stay away from sites you find on Google, 90% of the time they have a waythe highest pricesthan the local market.
lured into bad offers
Many expats are attracted to bad deals due to the strict requirements to rent an apartment in Medellin. They find someone who will offer them a classic apartment with no lease (i.e. no guarantor) only to discover that they don't get their deposit back after the lease expires, or that no one is really responsible for maintaining it.
Of course, you are lucky and find a local or direct landlord who will take good care of you and the apartment. I've heard a few stories like this, but unfortunately I think one in three stories ends badly.
How do Colombians get apartments in Medellin?
In general, Colombians have the same problem as us. They are used to it and do not have as many expectations as us foreigners. On the other hand, they know someone, maybe their uncle or cousin, who knows someone who has an apartment.
So they are in the same boat but have a little advantage over us foreigners because they know the local culture and maybe already have contacts. And, of course, they are fluent in Spanish.
Let's talk about how expats should rent an apartment in Medellin
The restrictions you have as a foreigner without a guarantor, not speaking fluent Spanish and not knowing the local culture make it really difficult to rent a cheap apartment at a good price.
In this video, I'm going to talk about what you need to do to get a good deal.
Furnished apartments in Medellín
As in any city, buying a furnished apartment is a very different market than buying an unfurnished apartment. If you are going to be in Medellín for less than three months, we always recommend that you get aairbnb. It has a really good rating system, it's covered by your insurance, most people speak English, and it's a good platform overall.
Hack Airbnb in Medellin
If you plan to stay more than 3 months, you will soon find that Airbnb is very expensive. Another trick is to make a deal directly with the Airbnb owner. You can contact him through the contact form in the ad and ask him to see the apartment while you propose an offer that fits your budget.
This allows you to save up to 50% on the monthly rent. The downside to this, of course, is that you don't have a legal lease and you never know how that person will act after you've rented for a few months.
We did that too and were satisfied with our first Airbnb during the first few months in Medellin. It gave us the flexibility to see if we liked the general area we were in while being able to cash our bank statements for the next apartment.
the facebook group
Another good tip is to check Facebook groups to see if anyone has a furnished apartment available. With more or less reputable real estate agents you can make good bargains there.
The only downsides are that the supply is quite limited and you never know if this broker can really be trusted (some are great people, some are lazy). Many work independently, because in Colombia a real estate license is not needed, each one can rent and sell apartments as they wish.
We support you in getting a furnished apartment in Medellín
On the other hand, we offer a service to connect you with our trusted partners who own apartments in Medellin. They are responsible and will take good care of you without harming you even if you are a foreigner. more in ourMoving Services Medellín.
Guarantee with furnished apartments
The market for furnished apartments in Medellín doesn't really have a problem with the guarantor since the market is made for foreigners anyway. Just make sure you don't overpay the deposit. Normally it should be a maximum of 3 to 6 months.
Prices of a furnished apartment in Medellín
We recommend anyone coming to Medellin to book a furnished apartment first. Sure, it's a bit more expensive, but you're more flexible and the process is much easier than buying an unfurnished apartment.
The average cost of a furnished apartment in Poblado is:
- 1 Quarter COP 2.5 – 3.5 million – USD 800 – 1100
- 2 Fourth COP 2.8 - 4.5 million - USD 900 - 1500
- 3 Bedrooms COP 4.3 – 6.0 Mio – USD 1400 – 2000
Prices in Laureles and Envigado are about 10% lower than in Poblado
- Q1 COP 2.2-3.1 million - $680-960
- 2 Rooms COP 2.6 – 4.1 Myo – USD 800 – 1270
- 3 Quarters COP 4.0 – 5.3 million – USD 780 – 1640
Prices in Estadio and Sabaneta are 20% lower than in Poblado
- 1 Quarter COP 2.0 - 2.9 million - USD 620 - 900
- 2 Fourth COP 2.4 - 3.6 million - USD 740 - 1100
- 3 quarters COP 3.4 – 4.8 million – USD 1050 – 1500
x=3200 (rounded numbers)
Of course, the furnished apartment market is also seasonal. In December-January and during theFlower Fairin August prices can be 50% higher.
Unfurnished apartments in Medellin
The market for unfurnished apartments in management is fundamentally different from the market for furnished apartments. It usually requires a lot of patience and a lot of paperwork, but at the end of the day, if you can really pull it off, you can do a lot on the cheap.
We have a local offer like this and we are paying USD 320/m2 for a 2 bedroom apartment.
The local way is not to go through an MLS, but to walk around the area where you want to rent an apartment in Medellín and look for the signs with the phone numbers. Or as I said above, knowing someone who knows someone.
There are three ways to get an unfurnished apartment in Medellín.
- Get a guarantor who can provide you with the necessary documents, such as bank statements for an employment contract. Many foreigners do not have a trusted Colombian to act as guarantor, bank statements, or any type of employment contract.
- Placing a locked CD through the end of the lease is typically 5 to 15 times the monthly rent.
- A deposit, which is also locked in until the end of the lease, is typically 5-15 times the monthly rent.
Monthly contracts in Medellin
If you want a monthly rental contract in Medellín, it is best not to look for an official agency. Contracts are generally issued for 12 months, in our example we could trade for up to 8 months. So another springboard for many expats who want to be flexible.
Other ways to get a furnished apartment in Medellín
If you can't meet the above requirements, there are other ways to get an unfurnished apartment in Medellin at a cheap price.
Get direct owner
You can walk around and ask the security guards if they have the number of the direct owner who wants to rent an apartment. This only works for large blocks of flats with security guards. However, keep in mind that this is usually time consuming and you need to know Spanish to be able to do it.
And the other drawback, as I said, you may not have a legitimate contract, which can be a headache at the end of the contract. How you don't get your deposit back or don't get it back within the agreed time frame.
Go with expat companies
There are some good and bad companies that mostly cater to foreigners. Some are run by foreigners, others by native Colombians. It is understandable that the prices there are higher than in the local market, since they do not have the right of guarantee.
On the other hand, they don't have such obscure ways of getting around this guarantor problem which I find preferable.
Cost of an unfurnished apartment in Medellín
To give you an idea of how much a local apartment in Medellín will cost, we can provide you with these figures. This is what expats usually pay monthly in the local market.
The average cost of an unfurnished apartment in Poblado is:
- 1 bedroom COP 1.5 – 2.2 million – USD 470 – 700
- 2 Bedrooms COP 2.0 – 2.5 Myo – USD 630 – 800
- 3 quarters COP 2.5 – 3.5 million – USD 800 – 1100
Prices in Laureles and Envigado are about 10% lower than in Poblado
- 1 Quarter COP 1.3 - 2.0 million - USD 400 - 630
- 2 Rooms COP 1.8 – 2.3 Million – USD 560 – 700
- 3 quarters COP 2.3 – 3.2 million – USD 700 – 990
Prices in Estadio and Sabaneta are 20% lower than in Poblado
- 1 Quarter COP 1.2 - 1.7 million - USD 380 - 530
- 2 Quarters COP 1.6 – 2.0 million – USD 490 – 620
- 3 Quarters COP 2.0 – 3.0 million – USD 610 – 920
x=3200 (rounded numbers)
We support you to get an unfurnished apartment in Medellín
On the other hand, we offer a service to connect you with our trusted partners who own apartments in Medellin. You are responsible and we will take good care of you without harming you even if you are a foreigner. more in ourMoving Services Medellín.
Our story of getting an apartment for $320/m
After staying in an apartment for a few months and ending up partnering with someone who owns an Airbnb, we were excited to have our own unfurnished apartment at a cheaper price.
It took us a while to find the right agency to work with as our initial calls went unanswered. We found a small piece of paper in a mailbox with a number saying to rent an apartment.
It was more or less what we were looking for so we called this number without high hopes. The lady on the phone told us that we didn't need a co-signer, so we were very interested in her apartment.
During the process, we quickly realized that we needed another co-signer. Fortunately we managed to do this with a Colombian friend who offered to be our guarantor without us asking.
To this day we are very grateful that a friend offered this to us. Otherwise we would have to deposit 7 times the monthly rent as a deposit, which we would not have paid.
After a lot of going back and forth (eg going back and forth with notaries, etc.) to find out what documents we need and some negotiations, we finally got the apartment for $320/m.
Conclusion – Renting an apartment in Medellín Colombia
Although a roof over your head is a basic requirement, finding an apartment in Medellín Colombia is not an easy task. Of course, if you just want to spend a lot of money, tomorrow you can get an apartment in a very nice area with good customer service. For everyone who, like us, wants to live on a tight budget because that's why they came to Colombia in the first place.
You have to go through some hoops to really achieve this, whether it's a big down payment, a Colombian guarantor, walking around and finding a good deal, or just getting lucky.
Related Posts:
- How to get a room in Medellin
- How to furnish an apartment in Medellín