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W e understand that for many potential clients, purchasing real estate in the Dominican Republic is more of an investment than a permanent home. Investors look for properties with high rental incomes that will pay for themselves through short and long terms rentals. At minimum, rental income is a way to offset costs associated with the property when they are not in being used by absentee owners.
Properties rent very well in the area. Short term rentals are better during high season (October-May) and long term rentals are steady year round. Yearly occupancy rates of 70 to 80%% and annual rental yields of 6% to 8% can be expected. This does not include the strong appreciation rates that are being enjoyed in the area which can surpass 10-15% annually. Location, size and condition are the main factors in determining potential rental income of the units.
Most residential developments have on-site rental management companies that cater to absentee owners. If you buy a property that does not provide this service, we can provide property and rental management for short term/vacation rentals. Please contact us and we can provide information about how our rental program works.
Some general monthly costs associated with operating a rental property:
Condo Association Fees
US$1-US$2 per m2 (US$65-US$400) Depending on the property
Condo Fees May Include
Common area maintenance
Common area electricity
You may be responsible for paying your utilities separately.
Electricity – $25-$300/month (we charge rental tenants for electricity)
Cable TV – $25/month
Internet – $30-$50/month
Costs associated with replacing appliances, dishes, towels, bedding, etc.
10-15%% of monthly rent
Property management services include:
Wire transfer funds to property owner
Maintenance Fees Paid
Mortgage payments, if any, can be done for the property owner
Appliances – if under warranty maintenance and replacement service calls
Rental Management Commission
12 month lease – 1 months rent
6 month lease – 1/2 months rent
Short Term daily/weekly/monthly- 35% to 50% of daily or weekly income
We advise that you advertise on the different rental sites like HomeAway.com at a yearly cost of $329.
We advertise your property on our own rental site
We create the rental sites on HomeAway.com
We manage all correspondence with potential tenants and manage the calendar
We do the check in and check out of the guests which is often during the weekends and evenings
We make sure that your property is taken care of and cleaned before and after use
We will take care of repairs if necessary
We will pay your bills (Cable TV, electricity, gas, internet)