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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Beautiful 3 Bedroom, 2 Bathroom Caoba Model

Sosua, Puerto Plata 57000

3Bedroom(s)
2Bathroom(s)
2Parking(s)
15Picture(s)
149
Beautiful 3 Bedroom & 2 Bathroom Caoba ModelSituated on the exquisite Residencial Hispaniola in Sosua, Province of Puerto Plata, Dominican Republic.This beautiful 3-bedroom Villa offers a perfect location with direct connection to downtown. The villa has its own private pool with a gorgeous and spacious tropical garden with gated community.
$259,000

Tropical grounds, 3-bedroom Villa with extra bungalow

Sosua, Puerto Plata 57000

4Bedroom(s)
3Bathroom(s)
2Parking(s)
18Picture(s)
201
Villa with outstanding lovely garden in Residencial Hispaniola – best location in Sosúa ! Gated villa community with ocean view and walking distance to Sosúa town and beach. Enjoy its completely tiled swimming pool in gorgeous tropical garden with very carefully selected variety of colorful exotic flowers. All bedrooms are air-conditioned.
$279,000

Heart Villa 5 bedroom, 5 bathrooms - Awesome

Sosua, Puerto Plata 57000

5Bedroom(s)
5Bathroom(s)
2Parking(s)
8Picture(s)
4,101Sqft
Villa Corazón is one of the largest properties in Villas Agua Dulce. Built on a lot of 1,247 M2 / 13,423 Sq. Ft., It has a covered area of ​​381 M2 / 4,104 Sq. Ft. It has 5 bedrooms with en-suite bathrooms, a large living room with integrated kitchen, large windows overlooking the the pool and parking with capacity for 3 vehicles.
$870,000

4-bedroom villa with a separated 1 bedroom apartment - Owner Financing

Sosua, Puerto Plata 57000

5Bedroom(s)
4Bathroom(s)
2Parking(s)
12Picture(s)
227
Charming and comfortable Villa with a welcoming atmosphere, fully furnished and equipped on both floors; perfect combination for a bigger family, or can be used as a great rental property.Upstairs the villa offers four (4) bedrooms with A/C, three (3) bathrooms, kitchen, dining and living room area. Tropical grounds with a private swimming pool.
$339,000

Ocean view Villa with waterfall pool

Sosua, Puerto Plata 57000

3Bedroom(s)
2Bathroom(s)
2Parking(s)
5Picture(s)
190
$305,000

6-Bedroom Luxury Casa Linda Villa

Sosua, Puerto Plata 95000

6Bedroom(s)
6Bathroom(s)
2Parking(s)
19Picture(s)
3,000Sqft
$479,000

Resale Villa Atlantis 6-Bedroom

Carretera Sosua-Cabarete Entrada el Choco, Sosua, Puerto Plata 95000

6Bedroom(s)
6Bathroom(s)
14Picture(s)
0Sqft
If a huge pool, hot tub and massive outdoor, tropical entertaining space interest you, then this resale Villa Atlantis in Casa Linda awaits.  This is a large villa with 6-bedrooms, all separated in a courtyard around the pool.  Beautifully furnished in a breezy Caribbean vibe, you'll find a great outdoor lounge area, large covered terrace and sunny pool deck for tanning and relaxing.
$499,000

Ravine View Villa

Carretera El Choco, Sosua, Puerto Plata 95000

3Bedroom(s)
3Bathroom(s)
1Parking(s)
21Picture(s)
164
How about having a beautiful view of a tropical ravine as you sip your morning coffee?  This 3-bedroom villa is very well appointed with an exceptionally private lot, high quality furnishings, unique guitar shaped pool, 60" tv, 5.1 surround sound in the great room and a well appointed kitchen.
$345,000

Three Bedroom Doll House

Sosua, Puerto Plata 95000

3Bedroom(s)
2Bathroom(s)
2Parking(s)
18Picture(s)
1,100Sqft
If you're looking for a furnished, three bedroom villa for less that $300,000 US, then look no further.  This uniquely styled home is ready for new owners and has three bedrooms, central great room, secluded backyard with pretty pool and solar.
$199,000

4-Bedroom Courtyard Villa

Carretera Sosua-Cabarete Entrada el Choco, Sosua, Puerto Plata 95000

4Bedroom(s)
4Bathroom(s)
2Parking(s)
12Picture(s)
2,900Sqft
Stunning 4-bedroom villa on a large, tropical lot in a secure, gated community.  Perfect as a permanent or vacation home, this model has been a proven rental income generator too.  Fully furnished and turnkey.
$349,000

Hispaniola Beach Condos

Sosua, Cabarete 95000

2Bedroom(s)
2Bathroom(s)
7Picture(s)
1,292Sqft
The only true beach front condo complex in Sosua, located in the centre of town yet secluded.Walking distance to the center of town where you can enjoy shopping, bars, restaurants and much more. Just minutes away to the international school, two large grocery stores, a brand new international hospital which takes most of the international insurances.
$270,000

Big Hills Residence - new condos in Pro Cab

Cabarete, Cabarete

1Bedroom(s)
130000Bathroom(s)
1Parking(s)
30Picture(s)
823Sqft
Big HIlls Residence is a brand new condo development of 32 units, located in Pro Cab/Cabarete.  Walk to the beach anytime you want and enjoy water sports, restaurants, sunbathing and much more.  These units feature high standards and imported quality materials.  There is a central pool, recreation area, and BBQ gazebo.  $130,000 US to $284,000 US.  1 or 2 bedroom units.
$0

Oceanside Villa

Sosua, Puerto Plata 95000

3Bedroom(s)
3Bathroom(s)
2Parking(s)
24Picture(s)
194
Luxury and the best life are right here!  If you'd like to see the ocean from every window, feel the sea breeze, and watch the sunset over the water, this villa is perfect.  Three large bedrooms, central great room, beautiful outdoor covered terrace, vaulted ceilings and oceanside pool are just a few of the benefits of this home.
$1,050,000

Perfect Villa on Large Lot

Carretera Sosua-Cabarete Entrada el Choco, Sosua, Puerto Plata 95000

2Bedroom(s)
2Bathroom(s)
1Parking(s)
16Picture(s)
1,200Sqft
This immaculate 2-bedroom, 2-bathroom villa has an updated kitchen and baths as well as huge new, 600 ft2 outdoor covered terrace.  The lot is over 1/4 acre and features fruit trees, coconut palms, and lush landscaping.  The villa has been a permanent residence and lovingly updated and maintained by the current owners.  The large pool features a jacuzzi.
$279,000

Seven bedroom Airnb business

La Mulata, Sosua, Puerto Plata 95000

7Bedroom(s)
6Bathroom(s)
2Parking(s)
36Picture(s)
0Sqft
How about a turnkey, operational Airbnb business?  This 7-bedroom home is an affordable, private paradise that is very popular for large groups that come to the DR.  It has had many upgrades and enhancements.  It's a beautiful place to live or run as a business - or both!It is told turnkey and ready to go.  Airbnb listing:  click here.
$499,000

Beachfront villa on Cabarete Bay

Cabarete, Puerto Plata

3Bedroom(s)
2Bathroom(s)
34Picture(s)
175
Looking for a beachfront villa? Bahia de Arena is probably your place! Due to its privileged location, it is one of the most attractive gated community in Cabarete Bay.
$510,000

Luxury Oceanfront Condo

Cabarete, Puerto Plata

4Bedroom(s)
4Bathroom(s)
17Picture(s)
425
Looking for a 3 bedroom oceanfront condo? Ocean One is a beachfront gated community located in the heart of the Cabarete Bay. This development offers comfortable and luxurious condos of 1 to 5 bedrooms, for rent or for sale. It consists of 3 different areas, each with its own private pool set in tropical gardens. There is also a small commercial plaza for local convenience.
$1,555,000

Encuentro Beach Villa

Encuentro Beach, Cabarete

3Bedroom(s)
3Bathroom(s)
16Picture(s)
235.60
Looking for a contemporary, modern villa that is close to the beach?  This one will fit the bill!  You'll love the open spaces, large windows and modern kitchen.
$345,000

Your New Encuentro Beach Villa

Encuentro Beach, Cabarete

3Bedroom(s)
3Bathroom(s)
18Picture(s)
235.60
Great new villa at Encuentro Beach.  Walking distance to the beach, restaurants and in a secluded, gated area.  A gem.
$325,000

Loft Condo at Encuentro Beach

Encuentro Beach, Puerto Plata

1Bedroom(s)
2Bathroom(s)
23Picture(s)
86
This is your chance to own an outstanding, affordable loft walking distance to beautiful Encuentro Beach.  Beautiful communal grounds and swimming pool.  Boutique project.  Incredible views from huge windows.  This is a very special condo.
$190,000

Sea Horse Ranch Luxury Villa

Sea Horse Ranch, Puerto Plata

4Bedroom(s)
3Bathroom(s)
20Picture(s)
457
This amazing home is located in the premier project on the North Coast:  Sea Horse Ranch.  Recently renovated, it's sold turnkey will all furnishings - ready for you to move into today!  You'll love the remodelled kitchen, new windows, and ceramic floors,  Don't like stairs?  This is a single story villa with an open floor plan.  It's spacious with private spaces like den and media room.
$850,000

Great Starter Villa

Residencial Casa Linda, Puerto Plata

2Bedroom(s)
2Bathroom(s)
15Picture(s)
1,000Sqft
This is a lovely bungalow in Casa Linda with office/workshop/craftroom, open living room/kitchen and 2-bedrooms with baths.  A lovely lot in a mature part of the development. Great onsite services and community feel.  You can go wrong with this well constructed, well loved home.
$250,000

Two Villas in One!

Sosua, Cabarete

3Bedroom(s)
2Bathroom(s)
18Picture(s)
180
This Villa Tranquila at Casa Linda is on a raised, very private lot.  It's unique because it has two entrances, two kitchens and two living rooms, all around a lovely swimming pool.  LIve in one and rent the other, or a great holiday investment property for a family or two couples.
$250,000

Building Lot in The Gardens

Cabarete, Puerto Plata

5Picture(s)
844.92
The Gardens is a hillside gated community located in the larger community of Lomas Moronas.  This is a lovely area with an abundance of green space and great breezes.  Enjoy ocean views and evening sunsets.
$57,500
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