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Thread: Best options to rent out an apartment

  1. #1
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    Unhappy Best options to rent out an apartment

    Hello!

    I will be going to the US for a year and I am looking to rent out the apartment in Santo Domingo until I get back in 2019. What do you think would be the best venues to advertise or promote the apartment for rent? Would you say that real estate agents have your best interests at heart?

    Now I've read a couple of threads stating that www.dr1.com/rentals is a good alternative but after taking a glance at it I could only see two postings there and both haven't been updated since 2015. I am unsure of the web traffic and reliability this option would bring.

    Are corotos, supercasas a good venues for these or are there other places? Should I just leave it all in the hands of some real estate agent?

    Your input would be appreciated.

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    I don't recall the thread...

    But a few people here said something about using airbnb for a few days then cutting a side deal in cash if you like the place/owner.  

    Lots of places aren't owned by the person listed in airbnb.  They are property managers, of a sort. 

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    Quote Originally Posted by ElVenao View Post
    Hello!

    I will be going to the US for a year and I am looking to rent out the apartment in Santo Domingo until I get back in 2019. What do you think would be the best venues to advertise or promote the apartment for rent? Would you say that real estate agents have your best interests at heart?

    Now I've read a couple of threads stating that www.dr1.com/rentals is a good alternative but after taking a glance at it I could only see two postings there and both haven't been updated since 2015. I am unsure of the web traffic and reliability this option would bring.

    Are corotos, supercasas a good venues for these or are there other places? Should I just leave it all in the hands of some real estate agent?

    Your input would be appreciated.
    You will most likely have to go through a realtor to list your property for rent and this will cost you a fee, possibly equivalent to the first months rent. Also be very careful when renting that you have a well written rental contract and you collect first and lasts months rent in advance and the tenant is aware that that the last's months rent is a damage and security deposit and he is required to pay all monthly rental charges and you will refund the damage and security deposit after he has moved out and you have checked your apartment. He should also be required to pay for electricity separately. It is not an easy thing to rent long term. You have to find the right tenant, collect your deposits, arrange for the monthly rent to be deposited into your bank account, have someone monitor the apartment to make sure there are no security issues and hope that no other issues come up while you are gone. Being out of the country makes it twice as hard to insure things are going smoothly. I rented my apartment in LT long term while I was in the process of listing it for sale and found a decent tenant, however, no matter how buttoned up you are there will always be little problems that crop up. Do you have someone in SD that you could rely on to go to the apartment if there are problems? That would be a big plus. That could either be a real estate agent or a personal friend or family member. I would think long and hard how much the monthly rent is worth to you. If you don't really need the money you may want to consider just locking up and leaving the apartment vacant while you are gone. Obviously the money would be nice but a simple rental could turn into a problem if you don't have the right pieces in place. With you out of the country it is very difficult to monitor what is happening back home. Good luck and good travels

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    Airbnb currently "owns" this type of rental market. Of course there are other ways to rent.

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    Spam deleted.
    Last edited by Robert; 05-22-2018 at 11:12 PM.

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    Quote Originally Posted by LTSteve View Post
    You will most likely have to go through a realtor to list your property for rent and this will cost you a fee, possibly equivalent to the first months rent. Also be very careful when renting that you have a well written rental contract and you collect first and lasts months rent in advance and the tenant is aware that that the last's months rent is a damage and security deposit and he is required to pay all monthly rental charges and you will refund the damage and security deposit after he has moved out and you have checked your apartment. He should also be required to pay for electricity separately. It is not an easy thing to rent long term. You have to find the right tenant, collect your deposits, arrange for the monthly rent to be deposited into your bank account, have someone monitor the apartment to make sure there are no security issues and hope that no other issues come up while you are gone. Being out of the country makes it twice as hard to insure things are going smoothly. I rented my apartment in LT long term while I was in the process of listing it for sale and found a decent tenant, however, no matter how buttoned up you are there will always be little problems that crop up. Do you have someone in SD that you could rely on to go to the apartment if there are problems? That would be a big plus. That could either be a real estate agent or a personal friend or family member. I would think long and hard how much the monthly rent is worth to you. If you don't really need the money you may want to consider just locking up and leaving the apartment vacant while you are gone. Obviously the money would be nice but a simple rental could turn into a problem if you don't have the right pieces in place. With you out of the country it is very difficult to monitor what is happening back home. Good luck and good travels


    Exactly why we don’t rent our home when we’re not here. Even with very trusted family around, not worth the risks and wouldn’t want to impose on relatives (who would be insulted if we offered to pay them) to handle repairs, etc




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    Hey LTSteve,

    Thanks a lot for the helpful information.

    Quote Originally Posted by LTSteve View Post
    You will most likely have to go through a realtor to list your property for rent and this will cost you a fee,
    possibly equivalent to the first months rent. Also be very careful when renting that you have a well written rental contract and you collect first and lasts months rent in advance and the tenant is aware that that the last's months rent is a damage and security deposit and he is required to pay all monthly rental charges and you will refund the damage and security deposit after he has moved out and you have checked your apartment.
    Understood. This is what I had in mind originally. Just a little confused about your indication that the "lats's month rent is a damage and security deposit". If that is the case, and it wouldn't be counted towards the actual payment of the last month (when it comes), then shouldn't it be just called a "security deposit". Either way I have several friends that are lawyers and deal with these contract on an every day basis. Shouldn't be much of an issue.

    Quote Originally Posted by LTSteve View Post
    He should also be required to pay for electricity separately. It is not an easy thing to rent long term. You have to find the right tenant, collect your deposits, arrange for the monthly rent to be deposited into your bank account, have someone monitor the apartment to make sure there are no security issues and hope that no other issues come up while you are gone. Being out of the country makes it twice as hard to insure things are going smoothly. I rented my apartment in LT long term while I was in the process of listing it for sale and found a decent tenant, however, no matter how buttoned up you are there will always be little problems that crop up. Do you have someone in SD that you could rely on to go to the apartment if there are problems? That would be a big plus. That could either be a real estate agent or a personal friend or family member.
    Good recommendation as well. Fortunately the majority (if not all) of my family and extended family lives here in Santo Domingo. A lot of them live just a couple of blocks away from my apartment so that shouldn't be an issue.

    Quote Originally Posted by LTSteve View Post
    I would think long and hard how much the monthly rent is worth to you. If you don't really need the money you may want to consider just locking up and leaving the apartment vacant while you are gone. Obviously the money would be nice but a simple rental could turn into a problem if you don't have the right pieces in place. With you out of the country it is very difficult to monitor what is happening back home. Good luck and good travels
    Yes, the money would be a tremendous concern. I am paying a mortgage on my apartment and on top of that when I go to the states I will be renting so the money is always more than welcome. I really don't see many options in this case. I am running a little bit out of time hence I need to find a good quality tenant really soon (I know it can be big ask), that's why I am looking for alternatives other than the real estate agents I have happily worked with in the past.

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    Quote Originally Posted by windeguy View Post
    Airbnb currently "owns" this type of rental market. Of course there are other ways to rent.
    Airbnb is currently not allowed in the building I live in. It would have to be a long term rental (12 months) and either way that is how I would prefer it anyways.

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    Quote Originally Posted by potus View Post
    Good day......A private message was sent to original poster......please get in touch any time.

    Thank you.
    Got the message, albeit a bit bizarre. Who are you? How can you be of help?

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    Quote Originally Posted by AlterEgo View Post
    Exactly why we don’t rent our home when we’re not here. Even with very trusted family around, not worth the risks and wouldn’t want to impose on relatives (who would be insulted if we offered to pay them) to handle repairs, etc
    How close to you in terms of being a relative to you is your "very trusted family"? I mean, my parents would happily, willingly and unequivocally demand me to let them take care of all these repairs, issues, etc.

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