Lease Agreements

[Poppy]

I would like to know of anyone's experiences with lease agreements in the Dominican Republic as I have recently been contacted by some people (whom I met whilst visiting the DR) who own a bar and want to lease it out for a few years....

Is this something that is a common business arrangement.

[ricktoronto]

Originally Posted by Poppy

I would like to know of anyone's experiences with lease agreements in the Dominican Republic as I have recently been contacted by some people (whom I met whilst visiting the DR) who own a bar and want to lease it out for a few years....

Is this something that is a common business arrangement.

Also known as the "you do the work, clean it up, do improvements, take the financial and operating risk, lose the business when times get tough, they rent it to the next gringo who has no clue as to running a business in the DR plan."

[pati]

It's very common in DR. I know someone who used to lease out their business. Is there something in particular you wanted to know?

[Cyber Park]

the most commun of them all.
since usually the property owner stes the rules, try to get your lawyer to view the contact.
protect yourself against terms like "one year penalty" or unlimited liability.
try to close the amount in RD$.
Gabriel
ONE Marketing Team
Outsourcing Network Enterprises
Hainamosa Free Zone
Phone (809) 440-4100
e-mail one.mt@enel.net

[misspiggy]

Hi....i suggest that you get a lawyer....there are alot of people that try to make easy money here....I know ALOT of people that have been ripped off...usually it's not even the local people , more the foreigners...so be carefull !!!

[Poppy]

Firstly thank you to all who have provided advice which I will note when starting negotiations.

I had intended to use a lawyer as an intermediary and will investigate reputable firms that represent clients in all manners of legal work. Is it better to look for one who specializes in real estate? It is residential property that I am looking for.