Apartment/ Real Estate Rental Tips, Please?

[Tea97]

@rasee16 - patanong kung sa olx nakita ng korean tenant mo yun advert sa unit mo? btw, mag spot check ka once in a while, kasi 2 na sa friends ko na ang umupa e korean, tapos binaboy yun units nila. Tipong yun sofa di na magamit kasi super dumi. Meron din instance na nagbakasyon kami somewhere in Cebu, and ang kwento ng hotel admin e ayaw nila sa koreano kasi makalat daw and magulo. Di naman siguro lahat. Pero better to do spot checks, para alam ng tenant mo na kelangan nila maging matino. Notify mo na lang yun tenant at least one day in advance for the spot check.

@D4thAngel - 25k, inclusive of assoc dues (ie landlord pays the assoc dues)? Ilan sqm/bedrooms? Ok na yan, basta maka 8% returns ka sa gross. Ako rin nung una ganon, may extra labas than papasok - kasi may insurance pa and life insurance, dahil naka mortgage. Buti na lang napaupahan din yun parking, so at least ngayon, positive cashflow nako.

[D4thAngel]

@tea97, yes sis included na assoc dues dun. kasi I learned na dapat landlord ang magbayad to ensure na walang delay ang payment. 31sqm yung unit, super mura na talaga but no choice, kelangan kumita kahit papano kesa naka tengga. I have Korean tenants naman sa apartment. Ang balita ko naman, mahilig magpa-sublease sa mga kababayan nila kaya nakabantay ako at specified sa contract na bawal. So far ok naman. Kaso di ko pa nasisilip yung bahay mula lumipat sila over a year ago.

[quennna]

Ako namna swerte sa korean tenant ko.. everytime na magconduct ako visit nasisilip ko unit ng client ko and so far ang linis sa unit.. metikoloso sa unit.. kahet sa cr wala nakatambak ng kung ano ano

[Tea97]

depende rin talaga sa tao/tenant mismo, minsan lang mahirap iqualify kasi maayos naman manamit, etc. ang requirement ko in the future is to ask for landlord referral/recommendation, para alam ko walang problema sa previous landlord yun uupa. common requirement yun landlord recommendation overseas, which i think is helpful to build up the lessee's credibility.

[D4thAngel]

A landlord recommendation is a good idea sis. Whatelse do you require for your tenants? How bout employment certificate and ITR? Sa Korean tenant ko copy ng passport lang hiningi ko.

[quennna]

A landlord recommendation is a good idea sis. Whatelse do you require for your tenants? How bout employment certificate and ITR? Sa Korean tenant ko copy ng passport lang hiningi ko.

sis, coe is okey but ITR, no need na..

[Tea97]

Same for me - i also ask for:

1 - letter from their HR to state they are of good conduct, job position and how long they have been with the company. This is so I can judge if they have the paying capacity. I dont need their actual salary, kasi may sal range naman akong makukuha base on their position from job websites. Yun ibang potential tenants they just give me a copy of their salary slip, and company ID - for some reason they don't want their HR to know they are renting, etc.

2 - passport for foreign tenants. Di na ACR - although I think I should. And for local tenants, government issued ID such as driver's licence or passport.

3 - proof of permanent address and/or billing address - such as electric, credit card bills. I suggest to the tenant to blacken out the sensitive details para security din nila.

4 - if student, I ask for letter of support from parents, and letter from their guidance counsellor na good character yun tenant. Wala pa naman akong student na tenant, so far. Puro mga professional.

Cargo din kasi natin yun tenant kung sakali man na manggulo sila sa kapitbahay or manira ng property ng condo association. So kelangan macheck ang credibility nung potential tenant. And in return naman, I use all reasonable efforts to keep their personal data confidential.

[D4thAngel]

Thanks sis. Big help. Iba kasi pag foreigner ang tenant. Itong mga Vietnamese nag super bargain na sakin, from dapat 2 mos advance, nakiusap na 1 mo advance na lang. June 1 ang contract date, pero may 15 move-in na gamit nila since maga out of the country sila.

[D4thAngel]

Sa condo owners- do you give out all the keys? My tenant is asking for my key as well, yun daw ang practice ng landlord nya. In case of unauthorized entry, out na daw ako. What your view on this?

[Tea97]

I dont give out all the keys to the tenant. I give them 2, and then one for our caretaker. I change locks every time there is a new tenant - pero i keep the old one, tapos iro-rotate ko (so we keep the old locks bagged together with the whole keyset). Madali lang magpalit ng lock, I did it on my own last time I changed our condo's main door lock.

Meron din chain yun door so whilst they are inside, wala dapat makapasok.

[monopoly19]

Question please:

Has anyone bought a house like in Camella, naka mortgage then hindi na kaya kaya kelangan na ibenta? What are the steps that need to be done?

[Tea97]

@monopoly19 - may nababasa ako sa mga ads for sale na 'for assume' which means bebenta ng present owner yun property pero yun buyer will take over payments dun sa creditor/bank/Pag-Ibig etc. in some cases, puedeng bayaran na ng buo ni buyer yun remaining loan balance, seller will have to pay for the penalty for pre-termination (depende sa terms ng loan mo).

You need to execute an assignment of 'contract to sell' to the new owner, tawag yata sa atin e transfer ng contract. Note hindi sya transfer ng certificate/title kundi contract pa lang, kasi di pa bayad ng buo yun sa creditor. May babayaran sa developer for such a transaction.

Best of luck.

[flighty_phoe]

magkano and per sqm if construction ng apartment? same ba sa house construction? or pwedeng cheaper?

[infinity24ever]

Hello Mga Sis!

Question lang about renting out a place. Ano ano mga sites na pwede mag post ng unit for rent sa Pinas? Rentpad, OLX and ano ba? we have a brand new unit sa makati area for rent. Dko lang alam san pwede pa mag post. Thanks a lot!

[D4thAngel]

magkano and per sqm if construction ng apartment? same ba sa house construction? or pwedeng cheaper?

Sis swerte ka na kung makakuha ka pa ng P15k/sqm.

[flighty_phoe]

^ thanks! hindi pa kasama cabinets dun no?

[D4thAngel]

Di pa sis. Usually iba ang quotes kapag may mga cabinets na. lalo na pag may kitchen cabinets ka pa.

[g-gurl]

To those who are leasing out houses, apartments and condo units especially the furnished ones, how do you screen potential lessors?

 In my case, I ask if they are currently employed or have business, how many occupants will be staying in the house, whether they have pets or smokers. I also ask for references from their previous landlords. My policy is to demand post dated checks (although this is not a guarantee). I have been getting inquiries sa mga foreigners and they cannot give PDCs. I akso take pics of the appliances with matching serial numbers.

Mas ma-trabaho ata magpa rent out ng fully/semi-furnished na apartments/ houses. Nagpa-rent out na ako ng commercial spaces, mas simple yun. Pero nahirapan ako mag select ng tenants sa furnished apartment ko, malaki ata ang risk kung may mga appliances.

[D4thAngel]

As suggested by one of our sisses here, I asked for the Certificate of Employment. Unfortunately, the  foreign boss of the foreign tenant called up and questioned why I have to ask for the COI. Kesyo di daw pwede dahil sa experience nila eh ginagamit for another purpose. So, I asked for the working visa instead and endorsement from the previous landlord.

Sis, importante na before the tenant signs the contract, clear sa kanya kung ano ano ang hihingiin mo na requirements together with the copy of the contract para mapag-aralan nya. Para wala syang reklamo sa requirements mo.

I am particular with the number of occupants, the nature of work (dapat regular-paying job), preferably isang pet lang kung sa apartment, at syempre PDC. I took pictures of the appliances as well as serial number. In fact, naka sticker pa nga with signature, kumbaga sealed. Sa contract naka-indicate each occupant at contact number. At kung sino din ang tatawagan in case of emergency na hindi tenant.

[bomfalleralla]

How much ba ang difference ng apartment and real estate rental?