Apartment/ Real Estate Rental Tips, Please?

[sweetcheeks]

^I'm learning a lot. :-) thanks so much sisses! God bless

[annie_shaider]

good thing at nabasa ko ang topic na ito at very helpful talaga....

lately i'm inspired to put up an apartment/dorm very soon. now, i need some advice to some experts here.

i looking for some properties within metro manila, preferably yung malapit sa universities, office areas. ano ba ang the best na i-set-up yung dormitory (bed space) type or ipa-rent ang buong bahay?

ang mga dormitory (bed spacer) ay kailangan din ipa-register sa BIR? May mga permits pa bang kailangan dito? Anyone have this kind of business? I've been living in a dorm/bedspace type while i was in college, problema ay yun mga iba tumatakas at hindi na nagbabayad.

Anyone here na naging regrets nyo ang pagtayo ng bed spacer?



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[high_def]

Hi all. I'm eyeing an investment in a condominium unit. Try ko lang. ok ba ang income dito and a rough estimate of its ROI?

[annie_shaider]

up ko to... isang option ko rin ang condominium unit.


marketable kayang iparent ang mga condo na 1 bedroom lang?

[Chellybih]

Per my observation of condos, 20sqm  with no partitions except for a small bathroom,  is ok.

Have any of  you seen the dorm prototype that the HLURB approved for areas near universities?  That's a good way to fix up studios.

Hi Aquacharly!

New here and thank you to everything posted, really learned a lot! I am an OFW, and have limited time to have all permits carried out but was greatly convinced to legitimize our unit for rent kahit 1 unit pa lang for our protection and that of our tenants. So research prior to going in the battle field is extremely important due to time constraint. And thought you can give me some input and to everyone in this thread.  From what I learned, to legitimatized your condo/apartment business, the process is from DTI/SEC -> Local Municipality(Business Permit) -> BIR.

Question lang po, can I register my business address(main office) in Bacoor, pero our condo unit to be rent out is in Makati? Okay lang po un? (The assumption po kasi is will have unit in other city in the future, sana… hehe) In such case, kuha po ng business permit sa Bacoor tama po? and then to which BIR Regional District Office should I file the income tax(sole proprietor), Bacoor or Makati po?

Maraming salamat po.

[miksha]

ako pangarap ko na business is to have a building (kahit small) and have it rented commercial/residential. sa ngayon we are looking for a lot na pwede namin patayuan in the future. kahit hatiin namin ang lot na half is house for us and other half gagawin small building will rooms na pwede iparent. i have friends who have done this pero ang napansin ko kase sa kanila is 1. either a spouse or parent or relative oversees everything. from looking, checking, buying of the lot to the construction, tenants, and maintenance. - Ito ang main na problem namin. we are both ofw. both sides namin wala may kakayahan na pwede pagkatiwalaan nang ganoon na responsibility (kahit chopchopin ko pa at isa for lot isa for construction isa for maintenance, etc...) so nahihirapan kami magsimula. Hindi naman pwede na one of us will stop and uuwi na with the kids (we do not believe na dapat magkahiwalay ang spouse/pamilya) so as to be able to do this. hindi din naman pwede na pareho kami umuwi kase mawawalan ka nang steady income (salary) na kakailanganin mo in the long term. kase kahit sabihin mo na nakaipon ka, cash mo gagawin lahat it would be putting all  your eggs in one basket, e paano na kung hindi umabot ang budget? saan kami kukuha? things like that.... hay naku.. can anyone give help/suggestions on our condition... baka may someone similar who had been in this situation pero nagawan nang paraan

[gab54]

If I were in ur shoes, I would buy nalang existing small building with minor repairs. At least yun. may existing tenants na, or if pagawaan repair nalang instead of construction. Ang problem kasi if OFW, walang magbabantay sa construction, baka hindi matapos or mag over the budget ka. Also, mahal mag construct ng bago ngayon. Mas cheaper if lumang building kasi mura palang when they constructed, tapos may depreciation pa.

[joban99]

hi Miksha, were a bit in the same situation kasi my wife and I are OFWs rin and di muna makauwi and isa sa amin kasi sayang ang work namin. Pero our situation is a bit different as I have my mom whos handling the house we bought. We could have bought or built a small building, but I feel having a house in a nice area is much better as you only need to take care of one tenant/family who rents your house for P40k/mo kaysa thinking of 8 tenants/families who pay 5k/mo each. In the end 40k/mo pa rin ang makukuha mo. So instead of thinking about 8 toilets, roofs, pipes, etc, you only have to think about one.  Also, its better to rent out to tenants from above the middle class kasi they pay on time and take care of the house as compared to renting only tenants who pay for 5k/mo. Pero of course to each his own. If you really want a building, then why not. However in your case as you said, you dont have anyone you can trust and that really changes everything. What I would recommend is for the meantime, if you have 10M or will borrow 10M  to build your building,  just buy a high end condo (in a good area from a good developer) with a good leasing agency (Ayala Land Premiere I think would be a good one, di ako agent ha, hehe..) and let them take care of your condo. Theyll find a tenant and manage mostly everything for you. Also unlike relatives, pwede mo talaga sila utusin na hindi nakakahiya kasi theryre on the payroll. Eh with relatives, even if you are paying them the same as youd pay an agent, theres always a "hiya" factor. In regards to the money youll make, its almost the same as you having a building. Lets say for 10M, you can make a 12 door apt buildling with 5k/each. If its full, youll make 60k/mo. Pero with a high end condo, youll also make 60k/mo for that one tenant of your unit as well. Then after a few years, once you guys are ready to go back to the Phil together and would still like to make this building, then just sell your condo and then build your building. At least you started now and early and made a passive income while youre both still abroad and making a stable income. Also if you plan to borrow from a bank, now is the time as rates in the Phil are very good nowadays. Pero as you're OFWs, baka mas maganda ang rate ng bank sa country mo ngayon. Anyways, my point is act now and make passive income now habang youre blessed to be OFWs and have a steady income. Hope this helps.

[miksha]

we already got a condo. so i want naman yung may lupa na akin. btw, for those who hired property managers paano ang salary nila? i know kase sa condo if you get the condo's "property managers" what happens is they find you a tenant and then you pay them equivalent of 1month of your rent. that's it. Paano for those who hired a property manager talaga na maliban sa finding tenant, may checking na ginagawa kung well-maintained ang unit and kapag walang tenant pinapilinis ang unit. stuff like that..

[beach]

Joining... Very informative thread. I want to earn rental property soon...

[homeworkermom]

Hi everyone.  Nag-end na ang contract ng tenant ko sa condo unit namin.  Naka 3 years din sila.  I want to ask after the unit was vacated, ano ang responsibilities ng owner and tenant in terms of repairs, etc.  As far as I know any damage sa unit charge sa tenant.  Yung repainting ng whole unit kanino dapat charge, like yung expenses sa materials like paints, brushes, etc., sa tenant ba yun?  Yung labor cost ng pag repainting sa owner ba yun or split sa expenses.  Nagpa-estimate kasi ako sa contractor ang mahal din ng aabutin kasi.  Any idea?  Inputs would be highly appreciated.  Thanks.

[orangepix]

^hi sis, if it's not stated sa contract agreement na the tenant should vacate the unit in its original pristine condition or u have a fixed restoration charge to be deducted from the security deposit, the owner shoulders the restoration expenses.

[homeworkermom]

^hi sis, if it's not stated sa contract agreement na the tenant should vacate the unit in its original pristine condition or u have a fixed restoration charge to be deducted from the security deposit, the owner shoulders the restoration expenses.

Thanks @orangepix for the reply.  All the damages, yes charge sa dati kong tenant.  eh yung materials needed for repainting kanino dapat?  Yung labor cost ng repainting plan ko na shoulder ko na lang.  OK na kaya yun?

[hanson15]

Ito ang plan ko in the future siguro when i reach 40's at may ipon na for that. For now migrate muna unahin ko. Pag nakapagipon na after migrate saka naman ako bibili ng commercial property for my parents to have them for business.

Saka naman passive income like this one

[chefron]

homeworkermom,

kung wala sa kontrata na kailangang ibalik ni tenant kung ano itsura ng pagkakaupa nya, eh hindi mo pwedeng icharge sa kanya yung magiging expenses mo sa pagpapapintura.
atsaka usually, hindi naman talaga chinacharge sa tenant yung ganung bagay, dahil obligasyon mo bilang landlord na maayos at in good condition ang pinauupahan mo.

[miksha]

usually kapag natural/normal wear and tear hindi yan charge kay tenant. ang repainting normally kay landlord unless ginawa talagang dugyot or kapangitan na ang walls mo after magrent ni tenant then pwede kayo magusap ni tenant.

[gab54]

In my experience, since wala sa contract at usapan, only electric bills/unpaid rent ang binabawas ko sa sec dep tenant, then the rest, balik na sa kanila. re: repair/repainting, ako (landlord) na ang gumagastos. Pero syempre depende sa usapan ninyo

[clermont]

Sa lugar namin, sunod sunod ang apartment or room for rent. Hehe. Daming competition 

[heaven_charm]

meron ba tayo sa philippine law na required days na dapat ayusin na landlord yung repair pag nareport na sa kanya?

nakakainis na kasi tong landlord namin, december 2012 pa nirereport yung tulo sa isang side ng apartment, may na di padin ginagawa. lagi siya may excuse. pero yung ibang units nakikita namin inaayos niya. yung sa cr namin nun nag-clog pinaayos niya pero yung sa tulo hindi, inabot na ng tag-ulan. so tired of reporting this to him and him doing nothing but giving excuses only

[xtine]

^Kung nasa contract nyo na the landlord will cover the fixings, then you can hint that you will sue him.