Renting

Your Dominican Republic Property

Many of our buyers chose to use their properties as rentals when they are not in the DR. Renting and the ability to have a DR property pay for itself often makes owning possible. If you are planning on using your condo or villa for just a few months per year, then renting may be for you.

The Dominican Republic is the Caribbean’s leading tourist destination with a strong base and continued strong arrivals and growth. Yearly, the Ministry of Tourism invests over 45 million dollars on international promotion. The DR tops over five million tourists each year.

For our buyers who want to rent their condo or villa, this means occupancy rates between 20-90% over the course of the year (depending on location, type of property, decorating, etc.) and nightly rates from $80 – $500/US a per night.

 

Where Do You Start?

Many condo and villa developments have on-site rental management programs and cater to owners who are not in residence. Dominican Republic Properties works with several developers and companies that offer this type of product.

If you choose to buy a property in an area that does not provide this service, then there are several reputable property management companies in the area. Please let us know and we will be happy to put you in touch with one of them, as well as provide information about how their programs work. In addition, companies like AirBnB have made a dramatic impact on the holiday market around the world. We suggest that owners also utilize these types of vacaton marketing avenues and funnel renters through their local DR management company. This provides double marketing, but still no work for the owner.

Part of our service is to advise you on which properties will make the best rentals, how much they will rent for on a daily or monthly basis. You should be aware of all the charges you will need to cover with your property such as maintenance and condo charges and the rental agent’s fees.

We are here to assist with explaining rental in more detail, as well as ensuring you get your rental set up and earning income.

little boy and parents on beach
beautiful condo view

Setting Up For Rental

Turnkey

Every rental company has a minimum list of what is necessary to place your property in their rental program. Below is a general list:

  • 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
  • Kitchenware: dinner set for four-eight persons; glasses and coffee mugs; wine glasses; silverware 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-eight persons; washcloths; hand towels; dish rags; dish towels; oven mitts; placemats; shower curtains (if necessary)
  • Audio/Video/Computer: tv in the great room (many developments want tv’s in every bedroom) ; Ipod docking station; modem for Internet; tv receiver for cable (if necessary); possible Amazon Alexa or other

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 furniture, with removable covers for washing.

But how to accomplish all this in a new country? We have many clients that have chosen to spend the time and energy to do all their own shopping. There are lots of really good furniture and department stores in the area. Another option is to just let a decorator take over the whole job. We can recommend a decorator that will work within your budget.

Should I decorate well?
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. Again, a decorator will have the right “eye” and know the best way to add warmth, character and tropical feel to a space, while sticking to budget. They will also know where to buy those specialty items like decorations, artwork, coordinating pillows/fabrics etc. Most clients find using a decorator alleviates stress and brings about a coordinated, beautiful result.

What 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 a blow dryer in the main bath
  • Really nice, fluffy towels
  • Leave a list of restaurant delivery places on the fridge door
  • Offer excursions if the management company doesn’t
  • Airport pick up and drop off

What can I 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.
  • Try a solar pool pump, and solar hot water heater

What Kind of Costs?

  • Condo/subdivision fee: monthly fees in a condo are usually less than those in a villa.
  • Cleaning and yard/pool upkeep: if your property is rented, tenants will expect daily cleaning service and in the case of a house, your yard and pool must be maintained. There is no pool/garden fee in a condo (it’s built into the condo fee) and electricity is generally less because a pool pump is not running.
  • Utilities: most developments have onsite facilities to pay your bills for you. If not, a management company can handle the collection and payment of monthly expenses.
  • Maintenance and repairs: costs associated with replacing appliances, dishes, towels, bedding, etc., as well as upkeep of the property. Many developments have onsite staff to handle painting, electrical issues, plumbing problems, etc.
  • Insurance: dependent on value of property and how much you want to insure contents for. Generally a $200,000 US villa will be about $1,400 US/year.

Approximate, Monthly/Yearly Costs

  • Subdivision/Condo Fee:  $150-$400 US
    • Includes security, back-up power, garbage collection, maintenance of common ares, sometimes gas, cable, internet)
  • Rental Management Costs:  20% of short term rental income, 15% of long term rental income (over one month generally)
  • Cable:  $30-$100 US for a general/upgraded channel package
  • Housekeeping:  $50-$300 US.  Dependent on level of service/number of days per week of service/size of property)
  • Electricity:  a general rule is $50-$100/month per bedroom if a rental unit
  • Internet:  Can be a separate cost $20-50 US, dependent on package
  • Insurance:  $500-$1,800 US/year.  Dependent on property value.

 

To Rent Or Not To Rent

PRO’S

The big pro to renting is not having any bills here in the DR – and likely earning an income over and above monthly expenses. It’s great to make your initial investment in a condo or villa, and then have the property carry itself. Most buyers find they earn a tidy sum over and above expenses and use the money for their vacations, or even have it wired back to their home countries. We caution buyers to keep a realistic mind set. It’s a rare rental property anywhere that can be expected to carry all its monthly expenses, additional mortgage financing costs, and also have $$ left over.
For people that own property in two countries, most find that their real estate in their home country costs them money every month. It’s nice if their DR property doesn’t dip into their wallet. We even have a few developers offering a rental guarantee.
Because all properties we sell have full management services and a rental component, it’s not necessary to source renters or worry about the actual “renting” of the property personally. The DR is a solid tourist destination, and management/rental companies are good at putting properties and renters together. Check ins/outs, maintenance, marketing, and renter services are all handled by the rental program – usually in-house at many developments. You can supplement your income by doing additional marketing yourself on sites like Airbnb, VRBO, and in your own area.

 

CON’S

The cons to renting include wear and tear on your property, having strangers in your home, being unable to truly personalize the property, and sometimes finding time to use it yourself. While rental companies are good at ensuring your condo or villa doesn’t sustain damage, normal wear and tear like paint marks, furniture deterioration, loss of dishes, etc. is a normal occurrence. Expect to purchase a lot of towels, sheets, and glasses! These are all considered a cost of doing business. Actual damages are not acceptable: broken lamps, bbq’s, stereos, etc. Renters are charged for any actual damages they cause.

Some Great Properties

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ACCEPTED OFFER - Villa Seashell Resale Casa Linda

Sosua, Puerto Plata 95000

4Bedroom(s)
4Bathroom(s)
1Parking(s)
19Picture(s)
259.90
This 4 bedroom, 4-1/2 bathroom villa gives you everything you could possibly want in a Paradise property. It has earned an excellent rental return or could be a wonderfully elegant home for the right person. From this villa you have an incredible view of the ocean yet lots of space space for everyone to call their own: multiple balconies, fabulously large outdoor terraced area.
$450,000

Fantastic Custom designed Villa at Casa Linda

Carretera Sosua-Cabarete, Sosua, Puerto Plata 57000

2Bedroom(s)
2Bathroom(s)
1Parking(s)
24Picture(s)
1,514.48Sqft
Previously priced at $270,000.00 USD, this beautiful home is situated on a spacious pie shaped lot with ample yard space.There are 2 master suites each with it's own walk in closet and en-suite bathroom. The large kitchen boasts a water fall island and is open concept onto the spacious dining and living areas.
$240,000

The perfect tropical villa - love the outdoor life!

Sosua, Puerto Plata

3Bedroom(s)
3Bathroom(s)
1Parking(s)
30Picture(s)
176
This is a very special villa and the type of home that doesn't come on the market often.  Lovingly cared for by owners who live here full time, it's a true tropical home.A breezy great room with vaulted ceilings opens welcomes you when you enter and offers sweeping views to the backyard and pool.  This is a very special lot that is almost 1000 m2 and backs a walking trail/ravine.
$397,000

First Class 3 bedroom Blue Green Beach Front Condo

Sosua, Sosua 57000

3Bedroom(s)
3Bathroom(s)
1Parking(s)
11Picture(s)
0Sqft
$325,000

Established 4 Master Bedroom Rental Villa with awesome returns

Sosua, Puerto Plata

4Bedroom(s)
4Bathroom(s)
1Parking(s)
15Picture(s)
188.14
This villa was built to be a vacation rental home or for anyone who simply needs lots of space and love outdoor living.  The main space is a very open floor plan with all views looking out to the beautiful, large pool.  Vaulted ceilings make this a very bright and airy room.  The kitchen is large with lots of cabinets and central breakfast bar.
$399,000

Panoramic Ocean view from Panorama Village

Sosua 57000

3Bedroom(s)
3Bathroom(s)
4Parking(s)
38Picture(s)
466
$625,000

Stunning Tropical Valley Views in Vista Verde - Awesome Deal!!

Sosua 57000

5Bedroom(s)
3Bathroom(s)
3Parking(s)
12Picture(s)
200
Price has been reduced from $360,000 to $295,000!!!!  This fabulous 5 bedroom villa is located in a community known as Vista Verde, which is known for its stunning tropical valley views. It's quiet, meant for people who want a peaceful life, close to town, but not in the middle of any traffic.
$295,000

Ocean View Immaculate Villa - Turnkey!

Sosua, Sosua 57000

2Bedroom(s)
2Bathroom(s)
2Parking(s)
14Picture(s)
170
You'll enjoy the pretty ocean views over the pool in this well cared for home.This horseshoe shaped villa offers views from the entire rear of the house, and access to the pool from both private bedrooms. An open space great room with several sliding doors to let in light and leafy views is the first thing you see from the front door.
$275,000

Fantastic opportunity in a 3 bedroom Townhouse

c/ Alejo Martinez, playa imbert (frente al helipu, Sosua, Sosua 57000

3Bedroom(s)
3Bathroom(s)
28Picture(s)
200
Located in Sosúa on the semi-private Imbert beach, Infiniti Blu is a luxurious gated community that follows a green concept. This self-catering beachfront accommodation features free WI-FI and is walking distance of shopping, grocery, restaurants, banking, medical services of Sosua.
$373,750

Dominican Republic Luxury Property

Sosua, Puerto Plata 57000

6Bedroom(s)
6Bathroom(s)
2Parking(s)
23Picture(s)
750
Villa Bohème is a luxurious Caribbean villa featuring six bedrooms, six and a half baths, a private pool and garden, and is a brief walk to the Tennis Club at Sea Horse Ranch and 5 minute walk to a gorgeous beach.
$780,000

Gorgeous 2-Bedroom Villa in Casa Linda

Sosua, Puerto Plata 57000

2Bedroom(s)
2Bathroom(s)
1Parking(s)
11Picture(s)
98.61
This new and fully furnished Villa features two king size bedrooms each with private en-suite, A/C and glass sliders opening onto to the pool deck outside. The large pool has an extended Sunbed and shallow area – perfect for lounging or for Kids!Professionally decorated, this open concept Villa seamlessly blends indoor-outdoor living.
$179,900

Elegant 3 bedroom home - Price recently reduced!!!!

Sosua, Puerto Plata

3Bedroom(s)
3Bathroom(s)
2Parking(s)
15Picture(s)
293.82
This classy, elegant home offers you three very good sized bedrooms and a nice open Kitchen, Living and Dining area. It has always been owner occupied and never yet utilized as a rental home. The villa comes furnished with interior furnishings with only the outdoor ones for you to shop for based on your comfort outdoor needs.
$420,000

Price reduced *** Beautiful Playa Laguna One Bed Condo with Den

Sosua, Puerto Plata 57000

1Bedroom(s)
1Bathroom(s)
1Parking(s)
10Picture(s)
0Sqft
Price reduced *** Beautiful Playa Laguna One Bed Condo with Den in modern condominium in secure gated beachfront complex between Sosua and Cabarete only a one minute walk from the beach and 15 minutes from the Puerto Plata International Airport.
$129,900

Fixer Upper 2 bedroom Condo in Fabulous Cabarete

Cabarete, Cabarete 57000

2Bedroom(s)
2Bathroom(s)
1Parking(s)
16Picture(s)
0Sqft
Looking for something to make it completely yours? This well built condo is a 2 bedroom, 2 bathroom villa unit in a small gated secure area that could bring you rental income or it can become a nice home with wonderful privacy. Yes this is a fixer upper with great structure – it would not take a lot of money to make this a fantastic home for yourself or possibly a rental.
$165,000

HEAVEN ON EARTH in this 5 bedroom condo on the Ocean

Sosua, Puerto Plata 57000

5Bedroom(s)
4Bathroom(s)
3Parking(s)
23Picture(s)
0Sqft
Incredible 2 level condo located directly on a beautiful sandy beach.This property is an extremely good value with identical units listed in the $500-550,000 range.  There are two similar units for sale.  Upon opening the front door you step into the condo and are facing a full wall of sliding door in the living area with views of a large terrace overlooking a stunning beach.
$550,000

Private 3 bedroom villa in a Tropical Popular Gated Community - Recent

Sosua, Puerto Plata 57000

3Bedroom(s)
3Bathroom(s)
2Parking(s)
10Picture(s)
144.47
This impeccable three-bedroom villa is located in the popular gated community Casa Linda on the Northcoast of Dominican Republic, the price has recently been reduced from $297,000 USD to $287,000 USD, the villa is averaging a 60% rental occupancy rate.  When you enter the villa you come into an open area with the kitchen and living room.
$287,000

4 Bedroom Luxury Villa - Wonderfully Private Location

Sosua, Puerto Plata 57000

4Bedroom(s)
4Bathroom(s)
4Parking(s)
23Picture(s)
350.17
Luxury Luxury Luxury!  You have to come and see this very regal 4 bedroom villa with office and gym.  Partially furnished villa with all the bells and whistles.  This villa offers crown molding and upgraded products and space for everyone if need be.  It is certainly an entertainers villa.  Can you imagine entertaining your family and friends here.
$710,000

Small Hispanic Castle on the North Coast

Sosua, Puerto Plata 57000

3Bedroom(s)
3Bathroom(s)
2Parking(s)
21Picture(s)
284.13
This is must see. Wonderfully Hispanic looking villa located in a popular gated community. Fully equipped as a vacation home and rental villa. If you want private, safe, quite living with wonderful out door living spaces by the pool, this is for you. The villa itself is a 3 bedroom model with large spaces for the living, dining room and kitchen.  One bedroom has been retrofitted for a small gym.
$360,000

Live a Tranquil Carribean life in a Modern Oasis

Sosua, Puerto Plata 57000

3Bedroom(s)
2Bathroom(s)
2Parking(s)
12Picture(s)
148.50
Come and visit The Palm Villa! It consists of 3 bedrooms with air conditioning and fitted wardrobes, 3 bathrooms of which two are private en-suite and one independent. This villa has a large living room (AC) with dining area, and a fully fitted open plan kitchen. The living room and bedrooms have large glass doors with access to large terraces overlooking the pool and garden.
$235,000

Price reduced *** Beautiful Playa Laguna One Bed Condo with Den

Sosua, Puerto Plata 57000

1Bedroom(s)
2Bathroom(s)
1Parking(s)
10Picture(s)
74
Beautiful modern condominium in secure gated beachfront complex between Sosua and Cabarete only a one minute walk from the beach and 15 minutes from the Puerto Plata International Airport.
$129,900

Walk Everywhere in Sosua Including the Beach, Restaurants & Shopping

Sosua, Puerto Plata 57000

1Bedroom(s)
1Bathroom(s)
13Picture(s)
0Sqft
This great vacation property has it all.  Located in an established, well respected condo development right in the centre of Sosua means you can walk to the beach, restaurants, shopping, and everything else!The complex consists of 54 apartments, a bar, a restaurant, two pools, a party area and a laundry.
$70,000

Nothing but Ocean as far as the eye can see......

Sosua, Puerto Plata 57000

3Bedroom(s)
3Bathroom(s)
2Parking(s)
13Picture(s)
194
Luxurious oceanfront and ocean view villa, fully furnished with exquisite decorations, first-class finishing, private pools and spectacular view of the sea. The unique design and location make this property a fantastic resource for investment. Owner financing available for up to 30 years and down payment of US $ 100,000.
$1,050,000

WOW what a View!!!

Sosua, Puerto Plata 57000

4Bedroom(s)
3Bathroom(s)
2Parking(s)
11Picture(s)
220
Luxurious oceanfront and ocean view villa, fully furnished with exquisite decorations, first-class finishing, private pools and spectacular view of the sea. The unique design and location make this property a fantastic resource for investment. Owner financing available for up to 30 years and down payment of US $ 100,000.
$1,200,000

Can't beat the Fabulous Ocean View

Sosua, Puerto Plata 57000

3Bedroom(s)
3Bathroom(s)
2Parking(s)
15Picture(s)
194
Luxurious oceanfront and ocean view villa, fully furnished with exquisite decorations, first-class finishing, private pools and spectacular view of the sea. The unique design and location make this property a fantastic resource for investment. Owner financing available for up to 30 years and down payment of US $ 100,000.
$1,100,000
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