YOUR PROFESSIONAL PROPERTY MANAGERS
Our property management services are designed to be flexible and tailored to the property owner's specific needs. Ownership of your remote or offshore investment can be worrisome and stressful, especially if you are not able to visit your villa, condo or other property on a frequent basis. At DR Rentals Online.com our goal is to remove those worries by offering you an inclusive and focused solution for your investment property.
Our prior experience in providing management of our own properties here in Sosua and Cabarete, Dominican Republic has provided us with the insight needed to develop a management service plan just right for you.
DOMINICAN REPUBLIC PROPERTY MANAGEMENT
Owner services designed for those who wish to actively rent their property to maximize their return on investment include:
- Provide an on-line listing of the owner's property for the purpose of generating rental inquiries and income.
- Handle all rental contract agreements, deposits, refunds and other details with potential guests.
- Collect and disburse funds and fees with transfer to owner via PayPal.
- Record keeping with detailed records of all activity related to property, including income and expenses, inspections, cleaning, maintenance, date of occupancy, and other accounting related documents. Owners may request imaged copies of income and expense invoices, etc. Activity reports will be e-mailed or mailed to the owner on a monthly basis.
- Conduct bi-monthly inspections of the property, if not in use, and before and after any rental period.
- Arrange and supervise cleaning schedules as required when the owner or guests are not present.
- Payment of utility bills with the amounts invoiced to the owner on a monthly basis.
- If applicable, supervision and payment of any staff such as maid and gardener.
- Key holder access to the property for inspections, maid service, repairs and other problems that might arise with the property.
- A local contact number provided to both the owner and the guests for emergencies or questions the owner or guests may have.
- Report damage caused by guests or by other events to the owner. Arrange and coordinate repairs of the damages on behalf of the owner.
- Arrange airport pick-up/drop-off for owner from the Puerto Plata International Airport.
- Make recommendations on minor repairs or upgrades to the property in order to improve rental potential.
- Special services such as child care, personal cooks, laundry services, currency exchange, medical care, etc. will be available to the owner and guests for a small fee.
- Develop service relationships for repairs (air conditioning, electrical, etc.), maid services, etc. to ensure above average maintenance of the property.
Inquire About Management
DR Rentals Online.com provides a full service property management service for the absentee owner of investment property. If you are interested in a no obligation review of your property to determine rental income potential or to obtain additional information of our property management services, fees and commissions please contact us.
YOUR CONSTRUCTION MANAGERS
Our construction management services include development of architectural projects, obtaining construction documentation, control of builders and engineers. And also receiving a title for your property
Our prices are US$300 per construction of 1 sq.m without finishing (this option includes preparations for electric works and connection of sanitary pipes) and from US$600 to US$800 per construction of 1 sq.m with finishing (the finishing includes full electric works, sanitary pipes, plaster and painting, ceramics, doors and windows, plumbing fixtures, wardrobe closets, a complete kitchen without the equipment)
Read about features of investments in Dominican Republic in the article below
Questions and answers about investment in the Dominican Republic
With this article we would like to tell you about investment in the Dominican Republic (DR) - what you would not study from the internet.
We have been providing construction services in the Caribbean region since November 2014, in the Dominican Republic - since January 2016. We have collected all effective data for the investor, including information which is normally kept out of the public eye.
So, why Dominican Republic?
The climate and the nature:
The climate in the DR is exceptionally beneficial for the health and is stable throughout the whole calendar year. This is facilitated by the warm current of the Gulf Stream, as well as proximity to the equator, and a lot of other geographical factors which you could easily learn particularly from the open sources. In these climatic conditions young generation,elderly people and babies feel equally well. The climatic factor constantly provides an influx of tourists to the DR.
The quality of local products (fruits, vegetables, meat, poultry, pastries, coffee, cocoa and others) is at a very high level. At the same time, their cost is pleasantly surprising. For example, a kilo of paired chilled beef you can buy here in a modern supermarket for US$7-8. Local farmers supply their products directly to stores and supermarkets. Thereby you can always buy delicious and organic products.
The geopolitical factor:
The advantage of the Dominican Republic is its proximity to
The United States of America, Mexico and Canada. The stable political situation in the country together with relations of partnership with the United States,
Canada and Europe create a favorable investment climate. The Dominican Republic is one of the few countries in the Caribbean where it is still relatively easy to obtain a residence permit and citizenship. With the possibility to obtain a preferential 10-year USA multivisa and naturalize in Spain.
Family & children:
The Dominican Republic is the country where people come over with their entire families. Children speak English and Spanish fluently from an early age in addition to their native language. They receive good education and get access to internships in the countries of America and Europe.
What do you suggest?
We suggest you to consider investing into construction of your own villa for its guaranteed lease (and/or personal living).
Why construction, rather than buying a ready-made property?
During the past 15 years, a rapid growth of new build property development has taken place in the DR. They have built everything from small houses on 500 m2 of land to residential complexes of impressive size, and they keep building. The market is overstocked with housing. Therefore, if you buy a ready-made object, in future you will sell it only at a significant discount. The local housing market has a following peculiarity: the real estate agencies indicate a certain selling price on the websites, but de facto they sell properties at lower rate - less discount of 30-40% and even more. However, the level of the “market” prices is formed by the amounts pointed on the internet. Some of our customers say: "Well, we can buy it 40% cheaper and then sell at the same discount”. We answer: the meaning of investing is to:
Firstly - to receive a stable passive income (from the lease);
Secondly - to earn when selling your property.
And above all – if you buy a ready-made property less discount of 40%, with a high probability you will sell it only less discount of 50-60%. Just because even more premises would be built in 1-2 years.
When Dominican realtors tell you in case of buying a villa for 270,000 US dollars ($), in the future you will sell it for same US$270,000, do not believe them, it's not true.
What is the right way to build in the Dominican Republic?
Driving by car, let’s say, from “the point A” Punta Cana to “the point B” Cabarete, you will pass by amazingly picturesque places. The Atlantic Ocean, tropical forests, mountains and everything that can please the eye, mind and soul. And almost everywhere on route you will see abandoned unfinished villas by the ocean or in the mountains. The reasons of the existence of such premises lie in the dishonesty of local real estate dealers. Here they can sell their client the “attractively priced” land without a possessory title (proprietary right), or a piece of agricultural land where one can only do agricultural work, or a glossy piece of land which has not been, however, properly analyzed concerning its attractiveness for tourists. In the first two cases you simply would not manage to complete the premise and would not connect it to the utilities. In the third case your property would not be rented by tourists. If your goal is to receive a stable income from the lease, than with our help you will successfully built exactly what tourists need, and exactly there, where there is a demand for rent.
We are currently offering the construction of villas in the Private Residential Community. This is a modern luxury residential complex witha large territory for construction, apartment complexes, restaurants, playgrounds,water park, fitness center, swimming pools, beaches. It is located between Sosua and Cabarete, in the province of Puerto Plata. The complex is located on the first line near the ocean, equipped with round-the-clock security and checkpoints of entrance-exit.
We offer the construction of a villa with a total area of 150 m2, with 2 bedrooms, 2 bathrooms, breakfast room / parlor (studio), private pool 15-18 m2. The construction is carried out on a turn-key basis, including decoration with coral stone, marble and tiles, installation of modern American sanitary ware and oak or mahogany kitchen sets, cupboards and doors. The cost of the construction is US$600 per 1 m2. The cost of the whole turn-key construction is US$90,000. You get project documentation for the house and a pool for free. We also take personal charge of obtaining all permits and approvals from the local authorities and the administration of the complex. For you all these services are free of charge. After the commissioning of the villa, you receive the possessory title (proprietary right) to it.
Kindly note that you additionally pay the one-time state duty on receipt of a permit for the villa construction.
The ready to use facility is handed over to the customer at average in 7-8 months after the conclusion of the contract subject to full payment for all stages of building.
At the conclusion of the contract, the customer pays 50% of the construction cost, and the remaining 50% are paid in installments within six months.
The construction contract is concluded in Spanish and English with obligatory notarial confirmation. We offer various options for transferring money from your country to the Dominican Republic (to the impersonal account, to the personal account, to the notary account, through money transfer systems) with the appropriate for the customer purpose of payment. Whatever payment option is chosen, the customer receives a document confirming the payment receipt under the contract. Document circulation is carried out with the customer monthly through the courier company DHL.
You can sign the construction contract in person in the Dominican Republic. If for any reason you can not visit the Dominican Republic, we will prepare a notarized power of attorney for our specialist to sign the contract.
For construction of villas we offer plots of land of 500-600 m2 (5,400-6,400 sq. ft.) or 1,000-1,200 m2 (10,700-13,000 sq. ft.). The average cost of a plot of 500-600 m2 is US$55,000, the average cost of a plot of 1,000-1,200 m2 is US$120,000.
You can buy out the land straight with a one-time closing of title to it. Or you can purchase it under conditions of mortgage (installment payment plan with interest).
Generally, we manage to arrange for our clients the following installment plan:
- a plot of 500-600 m2: initial payment of US$10,000, the remaining amount at 3-5% per annum for a period of 5-10 years;
- 1000-1,200 m2: initial payment of US$30,000, the remaining amount is 3-5% per annum for a period of 5-10 years.
Additionally, you pay for the utility hook-up (US$5,000).
To apply for a mortgage, you will need only a passport. The contract is concluded with the seller's representative before a notary and is notarized. Notary services are paid by the seller.
Also we can find a land plot in other location. Prices start from US$1,000 per 100 sq. m. In this case please specify the cost of maintenance fees and administration fees.
You can sign the contract for the land in person in the Dominican Republic. If for any reason you can not visit the Dominican Republic, we will prepare a notarized power of attorney for our specialist to sign the contract.
Kindly note that when you register the possessory title (proprietary right) to the land, you do not pay the state duty. The state duty is paid by the seller.
Kindly note that the quantity of land plots of 500-600 m2 is limited.
The plot was bought, the villa was built. What's next?
Already at the stage of villa engineering, we adjust with you all the details up to home textiles and garden decoration. We buy and order everything you need either in local shops and workshops, or in the US and Europe, as agreed with you.
After the villa construction, we promptly equip the site landscape.
The interior designer and landscape designer services are free for you.
When everything is set, you have at least two options.
You can conclude a contract for administration (cleaning, gardener services, pool cleaning) and leasing the villa with a management company in the complex.
You conclude a contract for administration and leasing the villa with our management company.
The cost of maintaining a villa with 2 bedrooms is following:
- Maintenance fees on a monthly basis (security 24/7, cold water, garbage disposal, maintenance of public areas) at a rate of US$165;
- Electricity fees on a monthly basis (based on the meter reading);
- Administration fees on a monthly basis (management company of the Residential Community US$150 or our management company US$90-120 + cleaning products);
- Fee for the lease on a monthly basis (management company of the Residential Community 20-25% of the rental amount or our management company 10-15% of the rental amount).
Kindly note that maintenance and administration fees may change upwards. This occurs due to rising costs for household cleaning products, staff salaries, etc.
Kindly note that you pay for electricity only for those tenants who stay at your villa for a short time, i.e. up to one month. In case of long-term rent, a month or more, electricity fees are paid by tenants. Also with a long-term rent contract it is mandatory for the tenants to lodge a security deposit at the rate of one month's cost of rent.
Also, kindly note that the management company of the Residential Community does not send anywhere income from lease. Your incomes will accumulate on your personal account until you withdraw them in person or with a help of your representative in the Dominican Republic.
What kind of management company you have, and why are the rental services so expensive?
The majority of Dominican agents, agencies and rental services use aggregators such as booking.com, tripadvisor.com, etc. The average aggregator rate is 15%, the rest of the fee is charged for the placement of tenants and supervision over their living. The prices of local companies are fixed regardless of whether the property has been leased out via the aggregator or not.
In our company we separate short-term lease (our reward is 15%) and long-term lease (our reward is 10%).
Our company DR Rentals Online, S.R.L. is registered in accordance with the law of the Dominican Republic and has been working since 2006.
Our company staff consists of managers from the US and Europe (senior executives, engineers, specialists) and local attendants (cleaners, gardeners, pool cleaners). The undeniable advantage of our services is that qualified specialists supervise the performance of functions of local staff. Therefore, we can guarantee that your property and all your belongings will remain perfectly safe.
We are open for conclusion of a contract for administration with our company for 3 years or more. The document will be settled by a competent and qualified notary in Spanish and English languages, subject to the interests of all the parties.
We can transfer the income from the lease monthly to any accounts that are convenient for you, through money transfer systems, etc.
What is the level of income I will receive from the lease?
Once again, we emphasize that if you build with us, following our recommendations, then:
- the income from the lease of your villa is guaranteed;
- you can sell your property profitably at any time and refund your money on margin;
- the income from the lease you get in foreign currency.
Thus, you receive an independent source of income and your own property in a prestigious international location.
The cost of renting a villa with 2 bedrooms in this residency is US$150 per day. Generally, tenants receive a discount depending on days of rent. For example, rent up to 6 days - US$150 per day;
Rent for 7 days - US$750;
Rent for one month - US$1400 and all utilities extra
The discount rate is set independently by the management company and depends on the time of the year, holidays, rainy season, etc.
Alright, let’s get this show on the road, but won't you abandon me halfway?
We are certain that business relations should be built on the principles of partnership. We had no cases of abandoning the project halfway, we are ready to overcome difficulties and solve all possible problems, but you, on your part, have to guarantee the fulfillment of your obligations. Our professional community where we have developed a good reputation takes participation in designing and construction processes, and in case of refusal or any force majeure on your part, our business connections will be compromised. And we do value our reputation.
We never ask our customers stupid questions. Our clients do not have to make a decision, where to build, how to build, what to buy and what not to do. We know what is the right way. And we assume the responsibility. The most important things on your part are your desire and prompt financing.
We are ready to proffer you services of a nominee (nominal owner of your property) with a documentary confirmation of your ownership.
We will be happy to answer your questions! Please feel free to email us: firstname.lastname@example.org