Most of our clients choose to use their property as a rental when they are not in the DR. Our projects all offer a rental management program that looks after most everything required;however, unless you buy a property furnished and ready to go, you will have to outfit for rental. Here are some tips:
What is turnkey? When you see properties listed as being "turnkey", that means that all items necessary for rental or living should be part of the sale price.
What do I need in place in order to start renting my property? The following is a list of items you should have to begin renting:
Furniture: living room suite; dining room suite; small table and chairs for outside patio or terrace; if you have a pool, then pool chairs, a bed and night stands in each bedroom;
Appliances: fridge, stove,microwave, blender, toaster, coffee maker; washer; BBQ (optional, but nice for renters)
Kitchenware: dinner set for four persons; plastic glasses and coffee mugs (if possible); wine glasses (again plastic if possible); silverware for four persons; serving spoons; spatula; pancake flipper, wisk; plastic bowls for serving; plastic juice container; colander; set of pots and pans; frying pan; can opener; drainboard; paper towel holder
Linens: 2 sets of sheets for each bed; towels for four persons; washcloths; hand towels; dish rags; dish towels; oven mitts; placemats; shower curtains (if necessary)
Audio/Video/Computer: tv in the great room; stereo system (boom box, etc. with a cd player); modem for Internet; tv receiver for cable (if necessary); dvd player
Don't buy the high end furniture package. Renters must pay for any damage to your unit, but wear and tear on furniture is to be expected and will happen over time. We always suggest to buy sturdy, wicker that breathes, with removable covers for washing.
Should you buy the furniture package at all? Many times, we have helped people buy the furniture for their condo or villa directly from the manufacturer. This has saved them thousands of dollars. Many management companies will help you get your property to turnkey condition; however, it is always cheaper to buy your own dishes, linens, etc. For information on where to shop, please visit our resources page.
Should I decorate? Yes. The better your property looks, and the more it feels like home, the better it will rent. You will have repeat renters and word of mouth clients that you otherwise would not have had. Spruce up your place with nice paint on the walls (not builder's white), buy some lively DR artwork and pots, and do all those little things that say "home away from home". It's worth it.
What other little "extras" can I do?
Provide a guest book for renters to sign. This shows community and it's fun reading for you and them.
Ensure your place is kept spotless. Most management companies have great cleaning, but make sure the little things are being done.
Provide an old laptop with working Internet.
Provide a blowdryer in the main bath.
Really nice, fluffy towels. Do not provide beach towels, they will disappear.
Have a working, local cell phone for renters to use. They will buy the minutes. Ensure the management company or housekeeper get it back when they leave.
Leave a list of restaurant delivery places on the fridge door.
What should I avoid or do to save money?
Put your air conditioners on a timer. Renters love to turn it on and go to the beach.
Put in an on demand hot water heater. Saves money over the electric kind.