Venezuela's rental market mainly operates in US dollars (USD) with equivalent payment in bolívares at the day's BCV rate. Contracts are typically one year, renewable, and require a security deposit and guarantee upfront. This guide explains the key elements so both tenants and landlords enter the relationship with clarity.
Contract types
The most common contract is a fixed one-year term, renewable for equal periods. Six-month contracts also exist, especially for furnished apartments or corporate use, along with short-stay contracts in tourist areas like Margarita or Mérida. The contract must be in writing and, for significant amounts, notarized.
Rent, deposit, and guarantee
The canon is the monthly rent, almost always agreed in USD and payable within the first five days of the month. The deposit is an amount equivalent to one or two months of rent that the tenant pays at signing and the landlord holds for the duration of the contract as security against damage or unpaid rent. The guarantee is an additional mechanism (a joint guarantor, an employer letter, or several months of advance rent) that the landlord may request depending on the tenant's profile.
At the end of the contract, the landlord must return the deposit within a reasonable period, deducting only provable damage beyond normal wear and tear and any unpaid utilities or condo fees.
Landlord obligations
- Deliver the property in good usable condition, with utilities current.
- Perform major repairs (structure, installations, fixed equipment like water heaters and central A/C).
- Keep condominium dues current unless the contract assigns them to the tenant.
- Guarantee peaceful use of the property throughout the contract term.
- Issue invoices or receipts for every payment received.
Tenant obligations
- Pay rent on the agreed schedule.
- Pay utilities in their name on time (electricity, water, gas, internet) and waste collection where applicable.
- Use the property for the agreed purpose (housing, office, retail) and not sublet without authorization.
- Perform minor repairs arising from everyday use.
- Return the property in the condition received, except for normal wear from the period of use.
Clauses worth reviewing
- Rent adjustments: in longer contracts, how and when the rent adjusts. If agreed in USD, currency risk is lower, but the mechanism is worth pinning down.
- Move-out notice: how many days' notice is required to not renew or terminate early, and what penalties apply.
- Inventory: for furnished properties, attach photos and a detailed description of the condition of furniture and appliances at signing.
- Included services: what the rent covers (condominium, security, common-area maintenance) and what the tenant pays separately.
- Pets and modifications: an explicit policy avoids misunderstandings.
Renewal and eviction
When the term ends, the contract renews by express agreement. If the landlord decides not to renew, they must notify the tenant with the agreed advance notice (typically 30 to 90 days). Eviction for non-contractual causes (non-payment, damage, improper use) is governed by Venezuelan law and requires a judicial process.