In order to rent in Mexico City, you need a cosigner who fully owns non-mortgaged property that is also located in Mexico City. This is because it can take years to process an eviction, so landlords use someone else's property as collateral to make sure you pay your rent. They want that collateral nearby so it's easy for the court to claim. Most people use family for this. There are many companies who offer this service but don't have the expertise to assist foreigners.
What are we offering to pay interest?
We are in a booming savings rate market in Mexico. We are trying to flip the Aval requirement from a burden into an investment opportunity.
We offer a digital process for foreigners landing in Mexico City - we will accept a credit report from any country as well as any mix of proof of income across currencies. You can upload savings accounts, investment accounts, government benefit payments, and retirement accounts to qualify too, even if you don't have active income. Recently hired? We'll take a credit report, hire letter, and proof of savings. We'll evaluate each case to answer the key question - are you in a safe place financially to easily pay your rent? if we think so, we'll co-sign your lease.
What is a Fiador? Obligado soliardio? Aval?
Unfortunately many realtors use these interchangeably when they are all legally different. Aval is not an applicable party in a real estate contract, but it's the slang everyone uses. We will be acting as your Fiador, which means if you are late on rent, the landlord can legally come to us for the payment. If we don't pay, they claim our property.