These written agreements are typically used for the use of homes, commercial premises, and farms or land
SANTODOMINGO. Although real estate lease or rental agreements should be drafted by lawyers, it is prudent to know the essential details that must be taken into account when preparing them.
For this purpose, El Inmobiliario consulted the lawyer and expert in Real Estate Law, Luz del Alba Rodríguez, who detailed six aspects that must be observed for these purposes.
He emphasized that, firstly, a contract of this type must contain the description of the object to be leased or rented, as well as the precise specification of the amount to be paid each month.
Another aspect that should not be overlooked is establishing in that legal document the precise date of the payments to be made monthly.
He clarified that in a lease agreement, payments may be made in stages due to the longer duration of the lease.
The CEO of Grupo Diure said that clauses should be added stipulating penalties in case of non-payment and compliance and responsibility clauses for both parties involved in the contract.
Also, contract termination clauses in specific cases and in accordance with the provisions of the Civil Code, when dealing with lease agreements and as established in Decree No. 4807, for rental agreements.
Contracts for commercial purposes
Rodríguez specified that when it comes to rental contracts for commercial purposes, the policies and regulations stipulated by the owners or administrators of the plaza or shopping center must be analyzed in the first instance, because the utility and conditions put in the contract must be aligned and in accordance with them.
Differences between leasing and renting
The real estate law expert explained that there are differences in the purpose of lease agreements and rental agreements or contracts for housing purposes.
He explained that "The lease agreement is more directed towards properties, that is, farms, land, and the obligation to use and enjoy the thing is stipulated for a longer time.".
Whereas the residential rental contract is more geared towards houses and apartments and the obligation of use is normally stipulated for a shorter time, than that of the lease agreement.
