The Ministry of Social Rights, Consumer Affairs and the 2030 Agenda has launched an investigation to detect and remove rental property advertisements in areas declared 'tense' (areas where rental demand is very high relative to supply) that appear to offer prices above the limits set by law or that do not provide essential information to potential tenants.
According to the official statement from the department headed by Pablo Bustinduy, the investigation focuses on large real estate portals that publish advertisements that could violate consumer regulations by not complying with new transparency obligations. In some cases, rentals exceeding the legal prices set for large landlords are allegedly being shown, or the previous contract price, which must now be clearly stated in the offer, is omitted. These practices could be considered “unfair commercial practices due to being misleading.”
New Obligations
The investigation is based on the Law on Customer Service Provisions, which came into effect on December 27 and requires online advertisements for housing in tense areas to include information that allows consumers to understand how the rental price has been set. This includes, for example, the amount of the last lease agreement in the case of individuals or the applicable reference index for large holders.
The Secretary General of Consumption and Gaming, Andrés Barragán, has already sent letters to the portals and associations in the sector reminding them of these obligations and the responsibilities they have as intermediaries between owners and tenants.