Here are a few random observations after having looked for an apartment again in Montevideo.When we first arrived, we searched for a one bedroom apartment so we could get out of the hotel and take our time looking for the place we really wanted to stay.
We quickly found a nice one bedroom furnished apartment and rented it for three months. The location was excellent and the apartment nice, but way too small.
From there we easily found and moved into a nice two bedroom furnished apartment facing the beach. Location was unbeatable as was the view and rent. We signed a six month lease. I won't say how many times we renewed that lease!
The only real problem with the apartment was that it is furnished and its time to get our own furniture to really feel at home. It is also a little bit small.
The search for an unfurnished apartment has been a little frustrating. First, there seem to be plenty MORE furnished apartments (at least in the Pocitos area).
Secondly, the immobilario says that the apartment owners are more interested in having property put up for deposits than cash. To rent an unfurnished apartment will require a 5 month cash deposit (though some ask for more).
We found an excellent apartment, the owners agent said the owner would only take 2 year (no 1 year) lease. We thought about it and told the owners agent right there we wanted it.
The next day we were informed that the owners wanted to rent it to some friends instead. We looked at a bunch more apartments and said we wanted another one.
Too late someone else already grabbed it! We look at more and there are two good ones, both priced in Pesos rather than dollars (most of the furnished apartments were in dollars). We made an offer in dollars (at about 10% off the asking price in pesos) on both places.
One owner indicated they probably didn't want to reduce the rent. The other accepted our offer in dollars (since I earn my living in dollars, it makes sense for me and probably for the owner too).
The deposit is pretty scary, but it will be deposited in a special "escrow" bank account under both our names so at least the landlord can't spend it all and have no money to return the deposit with.
Unfortunately that bank account can only be in pesos so the value will probably decline over the term of the lease.
