How do rental contracts and deposits work in Peru in 2026?

Confirm the parties’ full names and ID numbers, the exact address, start and end dates, monthly rent, and currency. Many Lima landlords quote or prefer dollars for Miraflores stock; others stay in soles (PEN). Write who pays mantenimiento, utilities, and repairs. Ask for a recent mantenimiento boleta before you celebrate a “cheap” listed rent: Lima cost of living.

List the garantía (security deposit) amount, return conditions, and inventory process. One to two months’ rent is the common planning band. If the landlord wants several months prepaid instead of or beside an aval, define refunds if the contract ends early: How to rent a home. Agency commissions, when used, should appear in writing. Prefer notarised signatures when the counterparty insists, and keep every PDF.

Terms often run six to twelve months with renewal by agreement. Note notice periods and early-exit penalties before you sign. An aval or fiador is a local guarantor many owners still request; foreigners without that network commonly offer prepaid rent or stronger income proof instead. Complete an inventory act with dated photos of walls, appliances, and meters at move-in and move-out so the garantía return fight stays evidence-based.

Identity and banking still make longer leases smoother: Get a Carné de Extranjería and Open a bank account. District choice shapes what “normal” rent looks like in Barranco versus San Isidro: Living in Lima. Never treat a verbal “deposit equals last month” handshake as a finished refund rule; write the return path clearly: Avoid rental scams.