Real Estate Investment

[sweetcheeks]

@gab54 and our other sisters here.. My fiance and I are planning to buy a 30unit apartment to have it rented. But he brought up the issue of collection since I think the people who'd stay there can't afford to give security deposits.

How do you efficiently collect rent from the tenants who can't give security deposit?

Thanks so much ladies :-)

[whitebishop]

no security deposit no move in. lol

[gab54]

In my case, No sec dep, no deal  Plus, pdc for 12 months.

[yena^_^]

Mga sis...magkano madalas ang sec deposit?

[whitebishop]

3 months (2 months advance and 1 month deposit)

[yena^_^]

thanks sis whitebishop

[sweetcheeks]

Hi sis gab! how much usually takbuhan ng rentables mo? :-) I'm thinking kasi if yung samin mga 5k per unit normally the target tenants dont really have money.

Yung sec dep is refunded minus their unbilled charges once they decide to move out tama ba? :-)
Yung post dated checks pwede oarin mag bounce right?

[chefron]

Sis kahit yung tag 2500 na paupahan humihingi sila ng deposit at advance.
Cheques do bounce alright, now if this cannot suffice for you, you really have to have a collector every month that would go personally to each unit you would be renting out. Theres really no assurance that the tenant you would be having can pay diligently, kahit may work pa yan, may nadedelay din.

Deposits are returned minus yung maiiwan na bill and other repairs na kailangang gawin sa house lalu nat sila ang nakasira.

Advance payments are used agad agad.

[freelancer_babe]

Yung post dated checks pwede oarin mag bounce right?

At least when the checks bounce you can sue them - criminally.

I think that's the reason why PDCs are becoming a trend. Mabigat ang penalty sa bouncing checks.

[yapeegurl]

Agree ako on PDCs. Criminal case ang bouncing cheque kaya we only accept tenants who are able to provide PDCs. Else, high risk iyan. Alternatively, you can have your own Property Manager if you have multiple units lalo na cash basis ang bayaran.

Sa amin, if the tenant's lease is 1 year, we require 1 month deposit and 1 month advance. Deposit will only be given upon termination of the contract. Full 1 month deposit ang ibabalik kung fully paid ang water/electricity/cable/telephone bills etc. Less ko diyan ang mga busted lights na hindi pinalitan, mga nasira na hindi part ng wear and tear, etc. AND dapat meron 30 days notice bago sila umalis. Else, forfeited ang deposit. Nasa contract iyan dapat. Ang 1 month advance naman ay advance monthly payment nila sa bahay. Prepaid kasi ang rent. Bayad muna bago gamitin. If they move in on May 1, 2013, ang 1 month advance na ibinayad nila by April 15, 2013 kunyari (sabay dapat ang bayaran ng advance and deposit) will cover their stay from May 1-May 30, 2013. So ang next regular monthly payment nila ay June 1, 2013 na, then July 1, etc.

For a 2-year lease, we require 2 months deposit and 1 month advance.

Sobrang high risk ang cash basis payment sa mga rent.

[sweetcheeks]

Got it:-) I'm so glad to learn so much from this thread.
Actually right now bung Holy Week, fiance and I are just scouting for properties to invest on.

Mahirap din pala ang ROi, usually diba dapat 10 years pero with the prices thrown out these days especially sa commercial properties.. Mga 15 years more or less ang computation ko swerte ka nalang if may existing income na yung property.

I'm wondering which areas are good to invest on for commercial which will boom in the next 3 years?

[Princess_Chill]

I can say ok talaga real estate investments lalo na pag ok location mo....

lalo na pag nakakuha ka ng mga property sa hindi pa masyadong developed at papunta palang doon ang
develpment so mura mo pa makuha pero pataas ng pataas ang price

[chefron]

Sweetcheeks try nyo humanap sa mga foreclosed listings ng banks, sometimes merong may apartment na or building.

[chefron]

For those into build and sell, how do you go about dun sa may existing bldg na then you want to adjust the floor area?
Tas if hindi kagandahan yung bldg or structure and you want to tore it down and build anew, what are the things to consider?

[brandi]

hay gusto ko din nito. i need motivation to finally get a grip of a few.

[artificialstar]

i'm thinking of buying a townhouse para ipaparent ko. okay kaya to? mostly kasi condo or apartments yung pinapa-rent. tia!

[annie_shaider]

meron din naman mga house and lots na pinaparenta. dito sa lugar namin, marami din naman na mga pinaparentang mga bahay. yung isang kapitbahay namin pinaparenta yung H&L nila for 20k. basta maganda ang location ng subdivision.

meron akong inaabangan na ibentang H&L malapit dito sa amin, almost 200sq meter lot area, more than 100sq floor area, bungalow type, corner lot, hindi binabaha ang lugar (ondoy or habagat), for only 2.5m. hopefully ibenta ito sa akin at kukunin ko talaga.

[whitebishop]

^meron din naman it's just that mas mabenta ang apartments kasi nga mas mura due to smaller space and minsan multilevel pa.  ang townhouse is more on dun sa mga mas may kaya to rent out a bigger space

[ann08]

Paano po kung walang OR na naissue sa mga commercial spaces na pinarent out?

We have this problem kasi, whenever we plan to add or increase the rental amount of the tenants,
may isang na lagi nag sasabi na nag pa repair sila and/or wala naman kayong OR.

Ang monthly rent nila is 7k and 8K then commercial space. Meron po bang law na dapat nasa 10K
above ang nag papa OR. I read somewhere kasi pero I cant remember kung san. Thanks

[chefron]

Nagparepair tas gusto ipaawas sa upa? Nasa kontrata nyo ba nakastipulate kung anung klaseng repair lang ang pwede na sagot mo?
Tell mo pwede mo sila isyuhan ng or basta mag add sila ng 12% vat.
Kung ayaw nya ng kalakaran mo before lose that tenant