I have a place which is rented out for 20k a month, it was built for 5 million about 6 years ago. What's the better choice, to continue to rent it, or to sell it for 6 million?
Are you Dominican, do you live in the country or plan to, do you have a good tenant, do you need the money (sale), are you happy with the 20k, is it commercial or residential, is the rent in US$, is there an indexation clause in the contract, what is the duration, etc...
"I am dating a girl, should I marry her?":cross-eye
I'm Dominican, I live in Santiago, It's residential, it's obviously not dollars, no indexation clause, I'm in the process of renting it out now, and the lease is renewed yearly.
If you have a stable tenant, if he pays you with no fuss, if he agrees on rent increases when the peso depreciates, if he doesn't "destroy" your house, you might think that's fine, 20,000 pesos is not that bad as a side income. At least, I would personnally think so.
In the last six years the currency has devalued by 18% (against the dollar), and it's local value has lost 50% (inflation).
Six million, if converted to a hard (whatever that is today) currency will just get current value back on your investment.
Go for it if you can, otherwise jack up, index and short term the rent.
Depending on the property, perhaps subdividing or commercialization is an option.
dipre,
You're making about 4% (240,000 pesos) before expenses on your investment that you value at 6 million. Add/subtract from that 4% any appreciation/depreciation you expect while you continue to hold the property.
Assuming you would re-invest the 6 million pesos... you need to decide if there's a better investment out there for you where you can make a return that compares favorably vs continuing to own the house. That might mean a chance for a higher rate of return, or perhaps even settling for the same rate of return with fewer headaches.
I'm not sure anyone can tell you what's a "better choice". Depends on what your investment style and goals are.