Sam - How To Expat
Sam - How To Expat

Get An Unfurnished Apartment in Colombia | Why You Need A Fiador aka Co-signer

The Hassle Of Getting An Unfurnished Apartment

We got asked so many times already if it is easy to get an unfurnished apartment in Colombia. Most people underestimate the hassle one has to go through to get an unfurnished apartment with local prices.

Basically, it is NOT easy to get an unfurnished apartment in Medellin. There are actually 2 apartment markets, the furnished and the unfurnished market.

The furnished market was mostly created for foreigners that want to live in a normal apartment rather than a Hostel or Hotel. It is easy and fast to get a furnished apartment in Colombia, you can easily get one through Airbnb.

On the other hand, you have unfurnished apartments. There are tons of agencies out there that can help you find an apartment that you’ll like, BUT when it comes to actually get the apartment it becomes difficult and this is when the Fiador comes in.

Fiador means Co-signer. You’ll need most probably 2 Fiadors in order to get an apartment. Fiadors have to be Colombian and need a specific amount of income or property with a certain value, which will be determent by an insurance company. Also, you have to show bank statements that can prove that you are getting more than the monthly rent of the apartment.

In case you don’t know anyone in Colombia, or they don’t have either, the income or the property, they will most probably ask you to pay a deposit. That deposit can go from around 5 to 15 times your monthly rent. The money will be put into a CD and can’t be touched by anyone unless both parties agree.

But it gets even more difficult…

Watch the whole video in order to understand how to get an unfurnished apartment in Colombia with and without a Co-signer.

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The post Get An Unfurnished Apartment in Colombia | Why You Need A Fiador aka Co-signer appeared first on How To Expat.

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