Vico Real Estate protects it’s Customers with the law in their hands and great options for a better live.

You can acquire a property with us and live off the income without having to work or take another coup, for which we offer fabulous projects throughout the Dominican Republic among the best tourist areas; Sosua, Cabarete, Puerto Plata, and others.

Remember when renting a home should take into account a range of obligations that both the tenant and the owner must meet. However, we also have certain rights. There are a very high percentage of people living in rental homes in the Dominican Republic. Most of these homes under lease, young people and families with limited resources. There is a law concerning rents, the article 4314, as amended by 17-88 of February 5, 1988, which regulates the provision and application of the securities in the tenancy, which is in charge of the Agricultural Bank. But then there are a levy charged by the Bureau of Internal Revenue (DGII) on the value of rents. While the main mission of the Agricultural Bank is to provide credit facilities for the development and diversification of agricultural production, so as to raise the living conditions of farmers, as well as contribute to economic development of the state, also has a department that receives contracts rent.

According to the bank, the incomes received by the rents are used for capitalization and thus meet its main objective to expand and diversify credit in the agricultural sector. The statistics issued by the entity indicates that the income earned via rent since the inception of the law in 1988 so far, come to RD$1,350 million contracts. Currently, the institution has RD$248 million received by the rents. According to the law of tenancy, the owners and managers of houses, apartment buildings, offices and physical spaces for rent, must deposit at the bank and maintain agricultural amounts requiring tenants to deposit payments and to ensure compliance any legal obligation.

If the property owner fails to pay the deposit during the 15 days of its validity, it must pay a surcharge of 10% for each month of delay, without moving 50% of the amount deposited, which he added the original amount. This law states that any lease the tenant must deliver to the owner or person in charge of real estate, the value of at least one month in advance of the one-year contracts, two months for two years, and so forth. Except for rental only, this requires the delivery of a monthly payment regardless of its duration.

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