Apartment/ Real Estate Rental Tips, Please?

[hi1208]

Screen tenants, always ask if they are first time renters, they have rented before, where, reason to transfer ( at the end of the day, the more you know, the easier it will become for you to know if a tenant is hard or not to deal with )

Always put everything into writing, which means have a contract and a set of policies, that should be clear from the start of the LEASE.

In collection, you should create a SYSTEM. Mahirap maningil, pero dapat maging matigas and makulet. ALWAYS REQUIRE PDC from the start of the lease.


Always have a percentage set aside for maintenance. In the long run, may depreciation expense ang paupahan.

Have your building insured as well.

Make everything CLEAR sa start palang ng paguusapn niyo ng TENANT. Para hindi magkaproblema.








 



 

[Tea97]

Does anyone have estimates for:
1 - cost of meralco meter installation
2 - cost of manila water installation
3 - cost per sqm for construction (mid-class)
4 - drainage/waste from homes - sa contractor pa rin ba to?

Also normally puede bang mag construct ng apartment within a subdivision?

I'm trying to put together the construction costs of building an apartment... thanks in adv!

[lilvanity]

We have a condo unit in Pasig. We've been renting it out for more than 2 years already. We've tried renting it out directly and through a broker. Sakit sa ulo kapag ikaw didiretso kakausap sa magrrent. Mas convenient through a broker but less one month makukuha mo sa payment kasi may cut sila. Curious lang ako, is there a condo unit owner who's into airbnb? Napansin ko lang kasi, parang mas malaki kikitain sa airbnb compared to iisang tenant lang like monthly? Gusto ko sana i-try airbnb for our unit, takot ko lang baka hindi pumayag yun admin ng condo and I'm not really sure about the legality of airbnb. baka meron pwedeng mag-share ng experience nila renting out their units sa airbnb?

[melmedrano]

kami sis... yung condo namin sa airbnb at ibang booking groups kumukuha ng guests... pero may property manager kami kaya mas madali for us. :-)

[babythug28]

^ sis yung property manager nyo ba sinasabi kung saan niya pinopost? and nag iissue ba ng report (?) kung monthly, weekly, or daily lang yung mag o-occupy?

magkakaron kasi parents ko ng condo for rent soon, pero by next year pa nila papaupahan para daw maenjoy muna namin yung amenities. the thing is, they want me to manage that since mostly online lang din naman ang magiging advertisement as well as reservation ng mag o-occupy. eto pa lang naiisip kong websites where i can post the condo. if meron ka pang ibang alam pa-share, if you don't mind

* airbnb
* agoda
* OLX

and also, nag iisue ba kayo ng receipt, mga ganun. nakaregister pa ba sa BIR yung condo nyo?

what if kasi hindi naman din consistent yung uupa sa condo (kung gusto mong daily or weekly lang). kelangan pa kaya iregister sa BIR yun? sorry dami kong tanong

Does anyone have estimates for:
1 - cost of meralco meter installation
2 - cost of manila water installation
3 - cost per sqm for construction (mid-class)
4 - drainage/waste from homes - sa contractor pa rin ba to?

Also normally puede bang mag construct ng apartment within a subdivision?

I'm trying to put together the construction costs of building an apartment... thanks in adv!

sis recently we had a talk regarding the expenses. my mom said (they already have a couple of houses for rent) na right now the rates are as follows:

1. Meralco - 5k
2. Maynilad - 8k
3. someone from the other thread replied to me with the amount of 15k/sqm kapag contractor daw
** modified - meron din palang mga 7k/sqm

we are also going to have an apartment (duplex) in a subdivision and wala namang problema regarding that. iba nga lang yung magiging cost/fee sa architect. i'll try to ask si mother dear kasi may nakausap na siya regarding that.

[empire_maker16]

meron ako nakita.. may house na siya.. 300 sqm at 3.5M siya.. my existing na kasi na mga nakatira.. paano pag binili ko? pwede ko ba sabihin sa seller na paalisin na tenant nila? kasi wala mga contract eh? saka hindi ko alam kung okay ba magbayad?

[melmedrano]

Hi Sis babythug28, sorry ngayon ko lang nabasa yung tanong mo.

Actually, wala kaming report na hinihingi sa kanya, but she inform me everytime na may booking kasi ako pa rin ang alam ng admin na owner, so ako ang mag-i-issue ng authorization for the guests. So yun ang aking control sa booking. Kung saan nyang site ni-list yung unit, hindi ko na alam... I just know airbnb and booking.com, di ko alam kungmay iba pa, kasi marami na rin syang recurring guests, minsan direct na sa kanya, so hindi na dumadaan sa mga booking sites. She's planning to register the business kapag nakareach na sya ng X number of units (syempre for cost efficiency din), sa ngayon wala pa syang sariling receipt but soon. Pag ganun, of course may share na kami sa taxes and all, at irereport na namin sa BIR... pang 3rd month pa lang naman namin ngayong March sa kanya, so far happy kami... madalas na may guest.

[babythug28]

^ thank you sis. sabagay ang pros ng ganyan madami na silang contact. baka sa mga travel agencies din may kakilala na sila (?). thank you sis for the info, i learned a lot

[pret_ty68]

^^
Saan saan ka ba kumuha nang property manager?

[geekgurl]

Curious lang ako, is there a condo unit owner who's into airbnb? Napansin ko lang kasi, parang mas malaki kikitain sa airbnb compared to iisang tenant lang like monthly? Gusto ko sana i-try airbnb for our unit, takot ko lang baka hindi pumayag yun admin ng condo and I'm not really sure about the legality of airbnb. baka meron pwedeng mag-share ng experience nila renting out their units sa airbnb?

Sis, try mo magairbnb host for 6 months muna if it'll work for you kasi may several factors to consider din eh. things to consider:
If within metro manila lang ha:

*san yung location ng condo mo? is it near shopping malls, business districts (BGC, Ortigas/ MAKATI)
*Sinong market mo? (Balikbayans, expat, season travelers, etc.)
*Anong advantage mo sa ibang host? (Room amenities, building facilities, security, housekeeping, etc.)
*Do u have a caretaker/property manager? (meet the guest for check in/check out, housekeeping, change of linens, bedding, availability of part time cleaner, contact person in case of emergency or maintenance personnel for repairs/troubleshoot ng A/C, internet, Water heater, leakage...etc.

I'm an airbnb host for less than a year and share ko lang experience ko pati advantage & disadvantages:
ADVANTAGE:
* yes minsan okay yung kita (pero seasonal lalo na pag ber months).
Minsan nakakaworry pag walang nagbook meaning tengga yung unit and siyempre nagbabayad ka pa rin ng dues.
*Hindi kaagad naluluma yung unit unlike long term lease
*Pwede mo gamitin yung unit anytime you like. (sometimes i do stay here pag may friend ako dumating from US or if I have a doctor's appointment para malapit lang sa hospital or clinic)

DISADVANTAGE:
*Availability ng part time cleaner ( may ibang schedule din cleaner ko sa ibang clients niya)
*Cost of electricity ( mahal kuryente naten sa pilipinas at minsan walang pakundangan yung ibang guest mag aircon)
*One time i had this chinese guest who called me up around 12am, naiwan niya susi sa loob ng room so i had to drive all the way down just to give him the spare key, take note galing pa akong paranaque.
*payments coursed thru paypal (minsan mababa exchange rate)
*time of arrival/departure ( may guest na nagcheckout ng 2am kasi 5 am flight niya. Another guest check in at 6am.) There are other host na iniiwan yung keys sa front desk/reception area pero i don't feel secure sa ganitong set up. mamaya ipa duplicate pa nila yung susi and alam mo na. So i do meet the  guest in person not unless repeat guest na sila then i just give the passcode na lang.

Sis, try mo lang. malay mo magenjoy ka.
I envy this airbnb host in makati kasi tatlo na units niya pero not in the same building... magkakalapit lang. Super dami niyang good reviews at hindi siya nababakante, maganda naman kasi talaga yung location (makati) and style ng condo niya eh.

wala hehe.just sharing just to give you an idea. 

[donyadine]

^ Hi Geekgurl! Super helpful ng posts mo! Actually wala pa akong property pero naisip ko rin kung bibili ako, ipapa-air bnb ko rin.

[Kristalle]

re Airbnb, I posted one of my units in a not so central location pero I am getting a lot of inquiries na. Testing ko lang sana if may magka interest. Now my problem is, wala akong cleaner, etc..in short, pati ako, di ko personal maasikaso kasi to and fro ako ng Phils. and US. Pano kaya gagawin ko? Ang hirap kasi maghanap din ng helper.

[geekgurl]

@Kristalle... san banda yung location ng condo mo sis?
My trusted cleaner naman ako..matagal na sya saken more than 7 years.. yun talaga work niya part time sa mga condo...pero minsan mahirap lalo na pag may schedule siya sa iba...minsan naman kasi ora orada kailangan pag may nagbook kailangan linisin.

baka may kamaganak ka na lang sis na pwede mo pakiusapan.

[Yula]

I started my leasing business by renting out the house my then new husband owned, coz there was just the 2 of us and we bought a new townhouse.
Then, we would move from 1 house to another, as a good investment (location wise) would appear -- and so, lease out the old one again.
And thus it went on, until I had enough funds of my own to purchase townhouses, then houses... but my requirement was that it should always be in a good location (kahit  na mas mahal ang acquisition)  coz it was easier to lease out, and to demand good rentals.

Naku sana makita mo pa itong quote sis tagal nang post mo ito. Nakarelate kasi ako ganito idea ko rin.Magsimula sa isang bahay meron na kami actually hinihintay nalang malipat samin ng developer.Eh sa location ng work namin ng bf ko malayo sa nabili namin na 2 storey house.Balak ko ipaparent nalang. Gawin namin bedspacer kasi 3BR/1 bath yung bahay na yun

Pede ba yung ganyan sis tama ba pagkaintindi ko. Nagbabayad ka ng downpayment tapos pagka-acquire mo sis,pinaparent mo na agad.Nireregister mo pa ba sa BIR or any offices?legal ba yung ganun?yung pagkaacquire sa property pinaparent nalang since sayo na yun after downpayment.

kung di ako masagot ni sis aquacharly mga sis baka masagot nyo tanong ko.Ganun kasi balak namin ng bf ko.Mag acquire ng mga bahay tapos after downpayment diba pede mo na lipatan yun.Ang gagawin namin paparent agad.

[Kristalle]

@Kristalle... san banda yung location ng condo mo sis?
My trusted cleaner naman ako..matagal na sya saken more than 7 years.. yun talaga work niya part time sa mga condo...pero minsan mahirap lalo na pag may schedule siya sa iba...minsan naman kasi ora orada kailangan pag may nagbook kailangan linisin.

baka may kamaganak ka na lang sis na pwede mo pakiusapan.

In Marquinton. Busy din kasi ang mga trusted relatives. Pwede kaya ang property manager for this?

[D4thAngel]

Sis Geekgurl. thanks so much for the inputs. Now I am thinking of ipa-air bnb ko yung condo namin na malapit na iturn-over. I found this Leasing and Prop Mgt, they charge 10% daw of short-term rentals. Not bad na din. Though iba charge nila sa cleaning at laundry.

[geekgurl]

you're welcomesis D4thAngel.. san location ng condo mo?

[D4thAngel]

you're welcomesis D4thAngel.. san location ng condo mo?

Sa Makati po, along Malugay St. Near RCBC Plaza.

[calin22]

Hi girls, need advise mga sis.
i plan to rent a condo pero sharing lang sana.. and recently I contacted a lessor, the weird thing is akala ko is ready occupancy na yung condo pero viewing palang daw. then the lessor is asking me to pay for reservation via bank if gusto ko na magpareserve kahit ang turn over ng unit is 3-4days from now. May contract naman siya pero his name is different dun sa nakalagay sa contract. Is that normal? What do I need to ask him for assurance? Sorry its my first time renting a place. BTW the condo is new pa, wala pang tenants.

[melmedrano]

sis calin22, do you really need the place right now? why not wait until the unit has been turned over to the owner before making any deal?
Based on my experience, after the turn-over (by the developer), the unit owner has to wait for the official acceptance letter and book an appointment when he will inspect the unit. After inspection, saka palang nya i-a-accept yung unit nya (provided wala syang gustong iparepair or anything)... tapos saka pa lang sya i-o-orient ng property management (kung meron man) at saka ibibigay yung keys and all... what I'm trying to say is, matagal pa yang process na yan... hindi pag sinabing turnover bukas, pwede ka na lumipat bukas.