virginia@virginiaglobalgrowth.com

Rent

Are You Interested in Renting Out Your Property?

We often receive inquiries about whether we manage the rental of investment properties in the Dominican Republic. The answer is yes! Our goal is to assist you in efficiently finding the ideal tenant. Additionally, we provide support in searching for a new home, accompany you through the entire process in detail, and guide you regarding the necessary documentation.

WHAT YOU SHOULD KNOW BEFORE LOOKING TO RENT IN THE DOMINICAN REPUBLIC?

Before starting your search for a property to rent in the Dominican Republic, it is advisable to have the assistance of a real estate professional to guide you through the entire process. First, clearly define your budget to identify the areas that fit your financial possibilities. Key Steps When Renting:

Main steps when renting:

Consult with a real estate agent. This professional will be your main support, as it is essential to verify the reliability of online listings and avoid potential scams or fraudulent situations.
Set your budget and location preferences. Rental prices in the Dominican Republic vary depending on the area, proximity to key services such as universities, airports, and the size of the property.
Prepare the necessary documentation. Before visiting properties, make sure you have documents that demonstrate your financial capacity, such as income proof or bank statements, and an initial deposit to reserve the property of your choice.
Look for properties within your budget. It's vital to consider your payment capacity; generally, it is recommended that the rental cost does not exceed one-third of your combined monthly income.
Schedule property visits. Your agent will coordinate visits to properties of your interest, recommending scheduling them in advance to accommodate everyone involved.
Submit a rental offer. With the help of your agent, who will perform a comparative market analysis, you can present an offer that is fair for both you and the owner.
Complete the procedures with the property management or homeowners' association. Most rentals require filling out an application, paying an administrative fee, and presenting your documents; keep in mind that this fee is generally non-refundable.

What documents do i need to rent?

Immigrants who do not have these requirements have two options; Look for a relative or friend who will rent you a property knowing that it does not meet the conditions, or go to a rental community that receives foreign tenants charging only a month's deposit (however, not all accept foreigners). You should bear in mind that having a bank account with sufficient funds can serve as a guarantee when demonstrating income.

Make these financial decisions before listing your home for sale.

What is the difference between a community for rent and condos?

An apartment rental community corresponds to a group of properties where the owner is a single person (person/person/corporation) and rents the units through a management company, which may be their own or a third party.

A condominium also corresponds to a group of properties, but for each of them there is an owner. Of course, a single person or corporation can have multiple properties. Among all the owners they select a condominium board and a management board.
This board of directors also has a series of requirements to accept future tenants, which are usually the same as those requested by the owner when renting.

How long are the contracts?

Do you allow pets?

Uno de los aspectos que puede complicar más el alquiler es tener una mascota. A muchos condóminos y condóminos no les gusta que sus inquilinos tengan animales, porque si hay multa, le cae a la propiedad.