Apartment/ Real Estate Rental Tips, Please?

[mameejhy]

@blooming - noted.

@pink_blush01 - kumusta na? Maganda yan project mo ha? I could refer an architect who could also help in the permits' processing.

@rhumbafrapp - Dorms are also nice, especially if near schools

@orangepix - try mo magtingin ng foreclosed properties na malapit sa schools o offices. Foreclosed properties are cheaper

@freelancer_babe - yan din ang ikinakatakot ko hehe

@freelancebuddy - nagloan ako... 

@babae_po_ako - ok lang siguro kung once lang. 

@chefron - re lot - try mo magloan? paupahan mo kaya muna yun lot as parking hehe 
              - re foreclosed - mura nga, lalo na yun sa mga laguna, bulacan hehe eto ang next target investment ko pero baka sa 2014 pa yun kasi nagbabayad pa kami sa mga bayarin hehe 

@aquacharly - isa ka talaga sa mga idols ko dito!  Ok ba ang townhouses for lease? Do you go for gated subdivisions? Hindi ba mababa ang profit sa ganyan lugar? Do you think ok bumili ng townhouses sa laguna then ipa rent? Saan pa areas ang mag start pa lang mag boom? You purchased the 2-storey business building or you built it from scratched? How do you know if a tenant is "iffy"? How do you do background checks? How do you know if a location is of prime area? Malapit sa offices, schools?

Thanks sa lahat!   

[orangepix]

^sige sis will look into foreclosed properties, thanksvfor the suggestion Parang mas appealing din sa akin ang townhouses for lease, as compared to condo.. Kasi you'll own the lot. Sorry mejo ot na... Paano ba yung terms ng ownership kapag sa condo unit?

[mameejhy]

eto lang ang masasabi ko - after 50yrs yata eh i-dedemolish na ang condo so bye bye investment ka na rin...

Mga sis, please correct me if I'm wrong.

Thanks

[chefron]

sabi po you will have shares dun sa lupa, so ibenta man sya you still get money...paki correct din if tama 

aquacharly, i hope you dont mind me asking, do you also declare those properties for rent as business?

[freelancebuddy]

super idol ko na din si sis aquacharly. parang gusto ko pang unahing magpagawa ng apartment kesa sa dreamhouse ko, single pa naman ako at sa parents pa nakatira.

[aquacharly]

MAMEEJHY.   The way I see it now -- either you rent out to the higher end or service the lower rentals -- that is where the bigger margins are.  Oo, kikita  ka sa in-between, but not as much ROI as on the top & bottom rentals.

The middle segment kasi have a lot of options to buy.  Bakit sila mag rent if the amortization is near the rentals?  Own na lang quesa rent, of course.

Prime property?    Hehe, basta  mahal and no baha --prime

Basta residential -- must be gated/ condo/townhouse with  guards. 
If vacant  lot or business  rental -- preferably close to 1,000sqm lot area at least.

[aquacharly]

Yes, you must.  Pag nagka problema ka sa tenant, the first thing they will threaten you with is
 the BIR.  Do not put yourself at risk, it does not pay if this is  your business.  You need a signed contract -so dun na evidence na against you. 

[aquacharly]

MAMEEJHY.   Ang definition ko nang "iffy" tenant-applicant:  Korean, Japanese, any Middle-Eastern, yung Pinay "wife" of a foreigner na hindi  naman wife , mga living in couples,  mga kabit, mga walang mabigay rent  history eh hindi naman  newly wed, mga may reklamo sa previous rented property pero nagtagal  sila dun ng 6mos or more,  mga ang negosyo eh forever  gabi ang office hours, mga bago ang checking account, mga miltary.   .  O, hwg ako batuhin!

You gotta seem very friendly, while they view -you dadah.    Ma gets mo sa sagot or refusal to answer or the hesitation  before answering if iffy yan.  Pag hindi stable ang family/personal life -- at some point magka problema sa rent pyment.  Tsismisin mo, look for inconsistent answers.  .

just check the info sheet they fill up -- validate, cross-check.  Pa check mo sa credit bureau if may negative history the erson, their company. 

[aquacharly]

MAMEEJHY -- hindi naman ako big developer... Sana, 1day,   hehe.    I do not bother to predict where the next boom will be.   My investment strategy is to buy into good locations na vacant  lot or bulok house, or near foreclosure.   Fix it up -- unload.  Or, if sa tingin ko appreciation is fast --rent out ko muna. 

I prefer turn-over vs appreciation.  So I try to avoid mga pre-selling/pre-development.

[mameejhy]

MAMEEJHY.   The way I see it now -- either you rent out to the higher end or service the lower rentals -- that is where the bigger margins are.  Oo, kikita  ka sa in-between, but not as much ROI as on the top & bottom rentals.

The middle segment kasi have a lot of options to buy.  Bakit sila mag rent if the amortization is near the rentals?  Own na lang quesa rent, of course.

Prime property?    Hehe, basta  mahal and no baha --prime

Basta residential -- must be gated/ condo/townhouse with  guards. 
If vacant  lot or business  rental -- preferably close to 1,000sqm lot area at least.

Why higher end? Afford rin naman nila ang amortization... Or, are you talking about expats?

Yes, you must. Pag nagka problema ka sa tenant, the first thing they will threaten you with is
 the BIR.  Do not put yourself at risk, it does not pay if this is  your business.  You need a signed contract -so dun na evidence na against you.

How did you register this as a business? Or, did you register this as owned by a "company"?

MAMEEJHY -- hindi naman ako big developer... Sana, 1day,   hehe.    I do not bother to predict where the next boom will be.   My investment strategy is to buy into good locations na vacant  lot or bulok house, or near foreclosure.   Fix it up -- unload.  Or, if sa tingin ko appreciation is fast --rent out ko muna. 

I prefer turn-over vs appreciation.  So I try to avoid mga pre-selling/pre-development.

Noted!

[aquacharly]

Expats, yes.  People who are rich and based in the provinces -- sanay sa spacious house in a good subdivision.  There are people with establshed businesses inthe provinces who do not want to get tied down to  a house in MManila -- they rent.

   I have rented out too to people building their homes in the same village (pero hindi ako payag don mag stockpile... So pinapa check up  ko lagi).   Filipinos who have been assigned back to the Phils., they expect to be assigned elsewhere in a couple of years -- are not sure they will eventually settle here -- so rent muna, company has allowance for that -- and the company has guidelines where to rent, what  to rent kasi may company image to uphold.

Ok din balikbayans.  They will not buy a property agad --  feel muna nila if they can really retire here, or spend half the year here.  Or, they think they can transfer part of their  business operations here -- so image again is at  stake -- they will rent muna for a couple of years  kasi  the business requirements are the priority.

Sure, they can amortize but they have as yet no clear idea if thy will be settling in the Phils or  how long they will be here.  So, the rent is just an expense -- they have no better-to-own inclinations -- yet.

[aquacharly]

^^ a corporation.  - the main purpose/business of which is property development and management --  the SEC. sells de kahon incorporation papers for this type of business.   Teka, claro-hin  natin ha:  this leasing out is a business with its own corporate  identity.  it does not necessarily own all properties leased out/developed.

This is a business hard/risky to hide from the BIR.  As I cited earlier -- you need a notarized contract to protect yor interests.  If sh1t hits  the fan, that contract will be used against  you if you do not correctly declare for taxation  purposes.

Most of my tenants are business people who enter their rent as an expense, so they do need offical receipts ... Or expats,  they also require ORs. Or, execs of big companies who have housingallowances -- they likewise require ORs.

On the lower-end, we have dorm-type 4-storey small buildings near a casino outside MManila for the casino/sangkaterbang vacation  village employees.   Something like this --hay declare!  It does not pay to hide whatever -- it's so out in the open. 

Hehe, wala kang pupwestohan but to be "correct in declarations" all the time.   

[london]

^ good to see you're back aquacharly! parang matagal ka ding nawala dito sa gt. na miss ko mga kuwela kuwentos mo =)

i also own an apartment compound for rent and lahat talaga declared. mahirap na. di mo alam ano mangyayari. side kuwento lang: my dad's cousin put up their townhouse in new manila for rent. so, got a tenant na okay naman and for several years e okay talaga. then one fine day, they got into argument. ayun, diretso si tenant sa bir sinumbong na my dad's cousin doesn't issue receipts. wala kasi contract and di rin naka register. so start na yun and of course, damay damay na other properties.

[aleng_maganda]

  Sobrang malapit ng matapos yung pinapagawa namin ni hubby na 12 doors apartment dito lang sa lugar namin. Meralco and maynilad na lang pwede na ko mag accept ng tenant. Naubos na din ang ang savings ultimo dollar account ko, nagalaw ko for this. Maliit lang naman 150sqm, 6doors sa taas 6 doors sa baba, tenement style.. 4k per month. This is a good start na rin, pag nakaipun ulit, bili ulit ng isa pang lot pagawa uli ng apartment. Ganito din kasi business ng parents ko.

[mameejhy]

^ 12 doors - wow!

150sqm for all 6 doors? tig ilan sqm ang 1 door?

i-register mo rin sa BIR yun?

God bless po. 

aquacharly - noted po lahat! This BIR thing got me thinking, though...

i also own an apartment compound for rent and lahat talaga declared. mahirap na. di mo alam ano mangyayari. side kuwento lang: my dad's cousin put up their townhouse in new manila for rent. so, got a tenant na okay naman and for several years e okay talaga. then one fine day, they got into argument. ayun, diretso si tenant sa bir sinumbong na my dad's cousin doesn't issue receipts. wala kasi contract and di rin naka register. so start na yun and of course, damay damay na other properties.

How did you register yours?

[aleng_maganda]

  As far as i know, if the rent is below 10k, no need to register sa bir. Correct me if im wrong.

[mameejhy]

^Ahh, that's good to know!

[chefron]

siguro sis more or less nasa 20sqm per unit. kase may allowance pa for hallway.

aleng maganda, i hope you dont mind, magkano inabot ng pagpapatayo ng apartment mo?

[aleng_maganda]

Almost 3m, di pa kasama lupa. Para syang studio type with 1 t&b and nilagyan ni husband ng mezzanine, para may tulugan. Im not sure kung ilan sqm per unit. Ask ko si hubby pag dating nya. Yung isang unit may tindahan kaya mas malaki ang upa.

[melmedrano]

MAMEEJHY.   Ang definition ko nang "iffy" tenant-applicant:  Korean, Japanese, any Middle-Eastern, yung Pinay "wife" of a foreigner na hindi  naman wife , mga living in couples,  mga kabit, mga walang mabigay rent  history eh hindi naman  newly wed, mga may reklamo sa previous rented property pero nagtagal  sila dun ng 6mos or more,  mga ang negosyo eh forever  gabi ang office hours, mga bago ang checking account, mga miltary.   .  O, hwg ako batuhin!

talaga sis??? naku natakot naman ako dyan... kasi sila (dalawa dun sa 3 nationality na binanggit mo) pa naman ang marami sa place ng condo unit namin which we intend to offer for rent. paano kaya yan??? i have lots of questions, siguro PM na lang kita soon... pag nagkalakas na ako ng loob... medyo shy ako eh. :-)