Contracts & The 'Fiador' Explained
Why traditional agencies ask for a co-signer and how digital nomads can rent without one.
If you've tried renting in Colombia, you've hit the wall: 'Requisito: Fiador con Finca Raíz'. This means you need a local guarantor with property to co-sign. For 99% of foreigners, this is impossible.
What is a Fiador?
A Fiador is a co-signer who legally guarantees your rent. If you don't pay, they can be sued and their property seized. It's a massive favor to ask, so even local friends will hesitate.
The 'CDT' Alternative
Some insurance companies (Seguros Bolivar, Sura) allow you to put 3-6 months of rent into a specialized savings account (CDT) as collateral instead of a Fiador. This takes time to set up but is a legal workaround.
The Nomad Strategy: How to Rent Without One
Most nomads bypass the formal real estate market (Inmobiliarias) and deal with:
- Direct Owners: Often willing to waive the fiador for proof of income or a larger deposit.
- Specialized Agencies: Like BestInCali or local expat agencies that underwrite the risk.
- Airbnb/Monthly: You pay a premium (20-40%) but avoid all paperwork.
What Your Contract MUST Include
| Clause | Description | Why it matters |
|---|---|---|
| Duración (Term) | Start and end dates | Prevents early eviction |
| Canon (Price) | Monthly amount in COP | Locks price against hikes |
| Inventario | List of furniture/items | Protects your deposit |
| Cláusula Diplomática | Exit clause for visa loss | Essential for expats |
| Preaviso | Notice period (usually 30 days) | Avoids auto-renewal |