Finding an apartment in Medellín is about more than spotting a listing you like — it’s about qualifying under Colombian rental laws and landlord requirements.
One of the most important things to know:
Colombian Law (Ley 820 de 2003) prohibits landlords from collecting a traditional security deposit for unfurnished, long-term residential leases. This law does not apply to short-term rentals or furnished apartments, where different payment terms and deposits may be requested.
Because landlords in unfurnished, long-term rentals cannot legally hold your money as a guarantee, most will require one of the following:
- A Fiador (cosigner)
- A Seguro de Arrendamiento (rent guarantee insurance policy) from an insurer such as SURA
Renting with a Fiador
A fiador is a Colombian cosigner who guarantees your rent payments. This person must own property in Colombia (usually in the same city) and agree to be legally responsible for your lease if you fail to pay.
Pros:
- Usually no cost to the tenant.
- Often preferred by landlords for its security.
Cons:
- Hard to find if you’re new to Colombia.
- Requires property ownership documents, proof of income, and tax records from the fiador.
Best For:
- Locals or expats with Colombian friends or family who own property.
Renting with a Seguro de Arrendamiento (SURA Rent Guarantee)
If you don’t have a fiador, you can apply for a Seguro de Arrendamiento from companies like SURA. This is an insurance policy that covers the landlord if you don’t pay rent.
How It Works:
- You apply with ID, proof of income, and sometimes a credit check.
- If approved, you pay a fee (usually equal to 1–2 months’ rent annually).
- The policy gives landlords the same legal security as a fiador.
Pros:
- No need for a local property-owning cosigner.
- Accepted by most professional rental agencies.
Cons:
- Upfront cost.
- Income proof can be tricky for self-employed or foreign earners.
Best For:
- Expats without a fiador.
- Professionals with verifiable income.
Negotiating Without Either – Why It’s Risky
While some private landlords may accept advance payments instead of a fiador or póliza, this is not a recommended option.
In Colombia, prepaying several months in advance carries high risk — including the potential loss of your money if the landlord breaks the contract or rents the property to someone else.
Deposits should only be paid to a legally licensed fiador or insurance provider as outlined above.
If you feel comfortable negotiating with advance payment:
- Vet the landlord and agency thoroughly.
- Request all legal documents proving ownership and business registration.
- Keep all communication and payments documented.
At CasaConnect, we’re building tools to protect renters:
- Partners Page – Our growing list of vetted rental agencies and service providers: https://casaconnect.com.co/partners
- DNS (Do Not Support) List – Vendors flagged by previous renters with documented proof: https://casaconnect.com.co/dns
Final Word:
The safest route to secure a long-term rental in Medellín is through a fiador or a seguro de arrendamiento from a reputable insurer like SURA. Both protect the landlord while giving you legal security as a tenant.