PROPERTY MANAGEMENT WE'RE YOUR SOURCE FOR LOCAL MANAGEMENT & ADMINISTRATION

Condominium Administration

Condominium communities in the Dominican Republic have an Owner Assembly that meets once a year to elect an Administrator who runs the affairs of the Association. During the annual meeting, the owners approve the previous year’s financial reports and agree on a budget for the upcoming year, including the Administrator’s salary. 

The Administrator builds a reserve fund to cover property expenses and the maintenance of common areas. 

At the end of the year, the Administrator provides a financial report to be reviewed by the owners at the next annual meeting. 

The Association of Owners is set up as a non-profit company and any savings achieved by the Administrator belong to the owners. 

The Administrator may also decide whether or not to hire employees or hire outside contractors to assist in reaching the objectives of the owner assembly. If employees are hired, the non-profit organization provides for medical insurance and pension funding, all included in the operating budget for the assembly of owners.

Our Projects

Ocean One Condominiums
Ocean Point 1 Condominiums
Harmony Condominums
Property in Ocean One Condominium

Property Management

Responsibilities of the Condominium Administrator include maintenance of common areas up to the “front door” of interior residences, while the management of interiors is the responsibility of each owner. 

In the case of condominiums, space is defined by the measurement of party-wall centers and outside lines of exterior walls. Since a condominium includes multiple floors, the ground beneath the building is considered a common area.

In the case of a townhouse or villa, title to the ground is held by each owner. Care of residence interiors is the responsibility of each owner. In the event an owner desires interior management, he or she can make arrangements with the Administrator or any other approved property manager in the local market. 

Rental Management

Owners who wish to rent their properties may use a Rental Manager to increase rental income.  Online vacation rental companies like Airbnb or VRBO offer great opportunities for international marketing exposure, however, it comes at a price! Also, in today’s competitive market, vacation renters have become serious negotiators and work with lower rental prices. In general Rental Management can become very time-consuming. 

Besides Community Management, our core business, we at Cabarete Properties dispose of a team that focuses on the Rental Management of your property, making sure to follow an efficient booking calendar through a professional accounting system.

There are two primary factors that increase rental revenue, positive reviews and instant bookings, the reason why it is extremely important to provide renters the best service and a positive experience. Today’s vacation renters want immediate satisfaction and prefer an instant booking process whenever possible. Therefore, choosing to hire a professional Rental Manager that follows a calendar system and provides full support in the rental process is a pro feature when renting out your property.

CONTACT US FOR A QUOTE!