Rental with a guarantor

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planner Dominican Republic Expert

Member since 27 December 2010

Dominican Republic Expert

plannerDominican Republic Expert30 May 2022 21:33:12

17177

This topic came up in another forum.

Outside of tourist areas it's fairly common for rentals to require a "fiador" or guarantor.

The normal is two months deposit and first month up front plus the guarantor.

This person takes on the responsibility if the renter disappears without paying! Legally you are not supposed to use the two month deposit to cover the rent, but it happens.

How to find a guarantor? Friends. Business associates. Family. These are common.

You can pay a company a fee to act as guarantor. Some law firms / lawyers do this.

If you don't have one, try offering to pay more months up front! Sometimes they will wave guarantor with an additional 3 to 6 months up front.

DRVisitor Serial expat

Member since 20 December 2019

DRVisitorSerial expat30 May 2022 23:10:49

712

I am familiar with the security deposit and few months rent but not guarantor. How does that work they go after both people? What makes a guarantor to be able to pay as well?

planner Dominican Republic Expert

Member since 27 December 2010

Dominican Republic Expert

plannerDominican Republic Expert31 May 2022 01:43:49

17177

They technically can go after the guarantor for unpaid rent and or damages done. Signing for someone is trusting them.

ddmcghee Dominican Republic Expert

Member since 15 May 2017

ddmcgheeDominican Republic Expert31 May 2022 12:39:39

1744

Don't the guarantors have to be Dominican citizens? Or can legal residents also be guarantors?

We've never needed one here in LT.

planner Dominican Republic Expert

Member since 27 December 2010

Dominican Republic Expert

plannerDominican Republic Expert31 May 2022 12:47:27

17177

NO they don't. You just have to show ability to cover the amount needed. I have guaranteed before!

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