property management

gonebiking

New member
May 13, 2006
23
0
0
have a condo in cabarete that i'm going to rent and hired a management co to handle the collection of the rent. they want my passport # and bank account # which i'm leery to give. is this the normal proceedure by management co's in the DR. any info will be appreciated. thanks
 

skyblue

New member
Mar 20, 2006
279
0
0
passport i understand, but do they need your bank a/c # to deposit money? if they are not going to deposit the money for you i don't see why they would need it. if they are depositing the money, then they need it. lets see what the board has to say. good luck!
 

Rocky

Honorificabilitudinitatibus
Apr 4, 2002
13,993
208
0
111
www.rockysbar.com
have a condo in cabarete that i'm going to rent and hired a management co to handle the collection of the rent. they want my passport # and bank account # which i'm leery to give. is this the normal proceedure by management co's in the DR. any info will be appreciated. thanks
Did you ask them why they wanted that info?
Contrary to the other reply, I can see needing a bank account number to deposit money into, but don't know why they need your passport number.
 
Last edited:

A.Hidalgo

Silver
Apr 28, 2006
3,268
98
0
My cousin in Santiago rented her house. She used a lawyer that deals in real estate. The lawyer set up a bank account to deposit the rent. It was set up in such a way that only my cousin had the password to withdraw monies. Rented about a year ago and all is fine. As far as requesting your passport number I don't know.
 
Last edited:

skyblue

New member
Mar 20, 2006
279
0
0
i was under the impression that asking for passport was standard practice as it's the only form of identification they will recognize short of a cedula. since not all that invest in property in DR become residents w/cedulas, the passport is the only valid form of id they will accept. please correct me if i am wrong. thank you
 

Rocky

Honorificabilitudinitatibus
Apr 4, 2002
13,993
208
0
111
www.rockysbar.com
i was under the impression that asking for passport was standard practice as it's the only form of identification they will recognize short of a cedula. since not all that invest in property in DR become residents w/cedulas, the passport is the only valid form of id they will accept. please correct me if i am wrong. thank you
Agreed, but why would they need it?
We're not talking about buying a car on credit, where they need to know who you are.
In essence, the Property management is in your employ, and no more than an employee would have any need or right to see his bosses ID, than would they, IMHO.
 

skyblue

New member
Mar 20, 2006
279
0
0
Agreed, but why would they need it?
We're not talking about buying a car on credit, where they need to know who you are.
In essence, the Property management is in your employ, and no more than an employee would have any need or right to see his bosses ID, than would they, IMHO.

agreed, but if they are going to be depositing money for you wouldn't they need to know it's you. also, wouldn't they have to have something on file to prove who you are and that you are not just some random person assuming the role of owner. i don't know, i could understand both sides and go either way. your explanation makes a lot of sense too.
 

Rocky

Honorificabilitudinitatibus
Apr 4, 2002
13,993
208
0
111
www.rockysbar.com
agreed, but if they are going to be depositing money for you wouldn't they need to know it's you. also, wouldn't they have to have something on file to prove who you are and that you are not just some random person assuming the role of owner. i don't know, i could understand both sides and go either way. your explanation makes a lot of sense too.
Just as Kramer pointed out on Seinfeld, "Why does Radio Shack want your name and phone number when you are buying batteries?"
Have you ever tried to tell them no?
In this day and age of identity theft, you have to wonder.
 

skyblue

New member
Mar 20, 2006
279
0
0
Just as Kramer pointed out on Seinfeld, "Why does Radio Shack want your name and phone number when you are buying batteries?"
Have you ever tried to tell them no?
In this day and age of identity theft, you have to wonder.

i'm usually pretty suspicious too. I love seinfeld!!!!
 

Steve Costa Azul

I love Rocky's Ribs!
Jul 15, 2006
405
0
36
rental company

Hi
I too have a villa in Cabarete and have agreed to have a rental company rent it out for me, however, we have owned it since March 2006 and it hasn't been rented out yet. They tell me that this is typical in the low season and if you get a renter, it would normally be for long term rent like 6 months or a year.
I don't remember if they asked for all that info from me but it didn't seem awkward in any way. Maybe when the first renter is found they will require more info. I am curious as to which company you chose and why. You can post it here or pm me and I will do the same back to you.
Good luck with it and high season is just around the corner.
Steve