Pls help me out with this 1

monn

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Iv bin here @ 20 days. Im hous huntin. My guarantor is a local reputable lawyer. Iv got my eye on a house, but becaus Ima foreigner, they want the usual 2+1 PLUS another 8 months in advance. Is this what U all had 2 do? Is this a standard procedure for foreigners?
 

Rocky

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Iv bin here @ 20 days. Im hous huntin. My guarantor is a local reputable lawyer. Iv got my eye on a house, but becaus Ima foreigner, they want the usual 2+1 PLUS another 8 months in advance. Is this what U all had 2 do? Is this a standard procedure for foreigners?
There's no standard policy, but it is understandable that a house owner would want a sizable deposit, to protect his asset.
 

monn

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There's no standard policy, but it is understandable that a house owner would want a sizable deposit, to protect his asset.
Im wel aware dat ther R no standard procedures in T 3rd world. Im just tryin 2 get feedbac on peoples personal experiences in relation 2 wat Im goin thru. Wat was yours?
 

SamanaJon

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Jun 20, 2007
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Rentals in the DR

As Rocky stated clearly, there is not a standard for deposits on rentals, anywhrere in the DR. But, why would you need a guarantor, if you are paying 2+1 plus 8 months in advance. My advise get rid of the lawyer and find one who will OK the lease and pay him for that only. It all depends on where you wish to rent as well, and what type of property. If it is a luxury villa that is furnished, you will have to provide a large security deposit. If it is a simple small unfurnished home in SD, you can sometime get by with as little as 2 months up front. Again, no set standard. Perhaps you can be a bit more specific in what & where you are looking. Hope this helps. Good luck. ;)
 

Rocky

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Im wel aware dat ther R no standard procedures in T 3rd world. Im just tryin 2 get feedbac on peoples personal experiences in relation 2 wat Im goin thru. Wat was yours?
First house I rented was just first and last month, but I had lived here for years and was well known.
Also, it depends on the value of the house.
The higher the value, the owners might want more sizable deposits.
It 's really quite simple.
Either you renegotiate the deposit, or you pay it, or you rent elsewhere.
 

Tamborista

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Im wel aware dat ther R no standard procedures in T 3rd world. Im just tryin 2 get feedbac on peoples personal experiences in relation 2 wat Im goin thru. Wat was yours?

What language are you trying to use?

t'
 

Rocky

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As Rocky stated clearly, there is not a standard for deposits on rentals, anywhrere in the DR. But, why would you need a guarantor,. ;)
The OP is likely mentioning the lawyer/guarantor, with regards to getting his residency.
He must know that no lawyer, or anyone for that matter, is going to guarantee payment against him not paying rent, or damaging the house.
 

monn

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Tk U vry vry much. I just wanted to hear frm U on this issue. I got it, TKs. Any1 else mind telin me @ yr 1st rental experience?
 

memphisj

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I too find this type of computer lingo extremely annoying. OP, maybe you would get some more responses if you spelled it out clearly.

As far as I can tell, only teens and 'wanna be' hipsters write like this.
 
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CyaBye3015

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I too find this type of computer lingo extremely annoying. OP, maybe you would get some more responses if you spelled it out clearly.

As far as I can tell, only teens and 'wanna be' hipsters write like this.

Or perhaps English is a second language to him/her. Cut the dude a little slack.
 

Theforceinme

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Oct 19, 2007
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I am Dominican and I rent, and 2 months advance with 1 month deposit is not unheard of. I had to pay a 2 month advance and 1 month deposit. Oh and, they keep your deposit...

Get rid of the lawyer, it is extra cost. Just read the contract, if you need it translated, find a friend :D The language is overly decorated in them, but the rules are simple enough to figure out.

DON'T SIGN ANYTHING WITHOUT READING THE CONTRACT. It could go badly for you if you did this.
 

monn

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What can say, besides being laconic, my mind moves just a little faster than my fingers. Thus the shortcuts. Anyway I would appreciate any input in reference to my perplexing situation.
Best regards - Richar
 

Rocky

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What can say, besides being laconic, my mind moves just a little faster than my fingers. Thus the short cuts. Anyway I would appreciate any input in reference to my perplexing situation.
Best regards - Richar
You pretty much already have it.
Sometimes it's just first and last, sometimes the equivalent to another month's rent as deposit, and in your case, they are asking for a larger deposit for some special reason, so you could ask them why, try to negotiate it if you like the place that much and be convinced that you would want to stay that long before accepting those terms.
Aside from the possibility that they might want a big deposit because of the high value of the house and it's contents, it's also possible that they know you won't like it after awhile, as there may be some hidden flaws or problems, so they want to get as much out of you as they can.
This, only you will be able to figure out, unless you tell us where it is and maybe someone will know the place.
 

Adrian Bye

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Jul 7, 2002
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Do NOT pay 8 months rent in advance. I have rented a couple of times and I have always paid 3 months rent to move in: 1st month paid, 1 month security deposit, and 1 month commission for whichever person managed to find me the place. Obviously paying the commission is not very desirable but I haven't found a way around it. Paying 8 months up front is insane.

When you move out, you don't pay the last month to use up the security deposit at the end.
 

GeeDee

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When you move out, you don't pay the last month to use up the security deposit at the end.

This is the reason that experienced landlords charge more than one months security. The security deposit is not the last months rent. It is just that security for possible damages to the apt.

As far as 8 months security... the landlord can try to get as much as he/she wants. Its up to the tenant to negotiate that down. However 2 months security is quite normal for a working person with good credit and a verifiable job in the states. You are talking another country so i am sure that the risk to the LL is greater, therefore more security may be required.

Do you have a job? How will you be paying the rent? This all factors in to how much security a LL will charge you. Thats pretty much universal.
 

Rocky

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This is the reason that experienced landlords charge more than one months security. The security deposit is not the last months rent. It is just that security for possible damages to the apt.

As far as 8 months security... the landlord can try to get as much as he/she wants. Its up to the tenant to negotiate that down. However 2 months security is quite normal for a working person with good credit and a verifiable job in the states. You are talking another country so i am sure that the risk to the LL is greater, therefore more security may be required.

Do you have a job? How will you be paying the rent? This all factors in to how much security a LL will charge you. Thats pretty much universal.
Excellent accurate post.
That sums it all up.
 

monn

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Thank you all

You came to my rescue once again. Muchisimas gracias a cado uno de vosotros.
 

miguel

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Jul 2, 2003
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La purisima verdad.....

This is the reason that experienced landlords charge more than one months security. The security deposit is not the last months rent. It is just that security for possible damages to the apt.

As far as 8 months security... the landlord can try to get as much as he/she wants. Its up to the tenant to negotiate that down. However 2 months security is quite normal for a working person with good credit and a verifiable job in the states. You are talking another country so i am sure that the risk to the LL is greater, therefore more security may be required.

Do you have a job? How will you be paying the rent? This all factors in to how much security a LL will charge you. Thats pretty much universal.
VERY accurate post.

SOME Dominican landlords have learned their lesson the hard way.

SOME have seen their homes be practically destroyed only to hear a moron tell them "oooh, I will not pay you the last month, I will use my security deposit as the rent money".

Had I NOT rented my home "thinking with my heart", I would had saved myself thousand and thousands of pesos.

But that's ok.....I learned my lesson and the new tenant paid for the former tenant's abuse!....