Dominican Republic Condo Rentals
For many people Dominican Republic real estate may also be a great investment opportunity to make good money in the long run. Though people who invest in condos and beachfront properties may not actually come and live here, they often rent them out to vacationers and to those interested in living in the Dominican Republic for a long duration.
Dominican Republic condo rental is a great way for the property to pay for itself by way of shot and long term rental income. Even if the owners plan on coming to the Dominican Republic once a year, they can always make some dough by renting out the condo for the remaining year when it is not occupied by them.
Here is what you can expect when you plan on renting out your Dominican Republic condo:
1. The rental income of your Dominican Republic condo will greatly depend on the location of the property. If your property is in a prime region like Punta Cana Bavaro area, you can definitely expect a great rental income, especially during the peak season months (May to October).
2. Long term rentals are steady throughout the year. Yearly occupancy rates of 70 to 80%% and annual rental yields of 6% to 8% can be expected. Prime properties can also enjoy annual appreciation of about 20% depending on the real estate market scenario.
3. When it comes to Dominican Republic condo rentals, it is crucial to remember that the condition of the condo, the size, how furnished it is, and location are all key factors that will determine the rental income.
4. In case your residential complex does not have an on-site rental management company to assist you in finding tenants for your condo, you can always get in touch with one of the local companies that offer these services. You can even tell your real estate agent at the time of buying the property about your interest in renting out your condo in Dominican Republic.
Dominican Republic‘s real estate graph has shown a steady rise in the last few years. This is a great time to invest in a property here for some long term gains. Make sure you go with a customer focussed real estate agency while hunting for the perfect Dominican Republic condo.