Apartment/ Real Estate Rental Tips, Please?

[be_Jenuine]

^I was thinking na since nauuso na airbnb or other travel booking sites and most of the condo owners are OFWs baka marami na din ginagawang business ang pagiging property manager.

Ano yung AirBNB sis? Any reviews? Medyo naririnig ko din kase siya? Anong connect niya sa apat and real state?

[rasee16]

^it's a website where hosts/landlords get to put their place in short-term lease. Imbis na maghotel ang guests, makikituloy sila sa unit mo parang transient. Usually daily rent lang ito. Parang condotel operation. Mas maasikaso nga lang ito compared sa long-term lease.

[be_Jenuine]

Double check the property, make sure na okay pa talaga siya walang damages na kung saan baka ikaw ang mag shoulder ng gastos eventually. Make sure na okay din yung developer para you're sure sa quality ng property. Most of the time the name of the developer says it all. 

[Tea97]

Just want to ask - where can a tenant buy checks na tingi? I require tenants to provide post dated checks para di na pabalik balik sa unit, and hindi na magkulitan sa bayad.  I remember dati puedeng patingi bumili from Metrobank or from Chinatrust. Hindi ko lang alam if that is still a practice allowed these days. Anyone knows?

And a little off topic - does anyone know how much is the ongoing rent for 3 sqm for a food cart in malls?

[jmeangeL]

^--- Manager's check.  They can ask the bank to issue a manager's check.  It's a bit similar to your tingi-tingi option, where you can request for only a certain number of check.

The difference is that it's a good as cash.  So, anyone can actually encash that check.

[Tea97]

MC might not be suitable - kasi kelangan bilhin agad, effectively tenant will pay a year in advance - mabigat yun sa kanila. Yun cheques na tingi, popondohan nila every time the cheque is due... maybe this is no longer something that CB permits banks to do, pero there is a huge market out there for tingi cheques.

[Tea97]

Quick question - for condo owners that rent out their units, do you insure your unit? If yes, what is the value you use for the insurance - market value or buying/acquisition price? Salamat. Just wanted to check if I still need a fire insurance, kasi may insurance na yun building itself - baka contents insurance na lang kelangan ko.

[D4thAngel]

Quick question - for condo owners that rent out their units, do you insure your unit? If yes, what is the value you use for the insurance - market value or buying/acquisition price? Salamat. Just wanted to check if I still need a fire insurance, kasi may insurance na yun building itself - baka contents insurance na lang kelangan ko.

I insure the content lang sis. Kasi building itself is insured naman. Furnished kasi yung pa-rent ko, who knows baka  magkasunog. Mura lang naman, P600/annual for P500k content.

[Tea97]

Thanks^ naguluhan ako [textspeak!] mung dating naka mortgage yun condo ang ginamit ng bank na base value para sa fire insurance is the acquisition price, kaya yun annual premium e more than 5k. Nakakainis talaga mga bangko, oportunista - even if sinabi ko na covered naman na yun bldg itself ng association insurance.....

Anyway that aside, tanong ko lang if anyone has experience in 'assume' sale of property? That is, seller does not have the title yet, buyer to take over payments of the loan and will receive the title eventually. What does one check for due diligence? Aside from original contract of sale ng buyer from developer, anything else? How do I check if there is a loan against the property?

[patchiislove]

subscribing to this thread 

[gil12]

How to register apartment or house for rent in DTI and BIR? What's the process and requirements? Gusto ko kasi sana i-register and pay taxes kaya lang I don't know where to start. Kelangan ko na ba agad kumuha ng accountant bago magpa-register? Baka kasi kapag lumapit lang agad ako sa DTI o BIR maloko pa ko. Pa-tulong naman please. Thank you.

[shinies]

I insure the content lang sis. Kasi building itself is insured naman. Furnished kasi yung pa-rent ko, who knows baka  magkasunog. Mura lang naman, P600/annual for P500k content.

Anong insurance provider mo sis?

Sa building common areas lang insured nila eh kaya naghahanap ako para sa unit at content.

[jmeangeL]

How to register apartment or house for rent in DTI and BIR? What's the process and requirements? Gusto ko kasi sana i-register and pay taxes kaya lang I don't know where to start. Kelangan ko na ba agad kumuha ng accountant bago magpa-register? Baka kasi kapag lumapit lang agad ako sa DTI o BIR maloko pa ko. Pa-tulong naman please. Thank you.

Register it as a business first.  Kuha ng DTI, barangay permit at Mayor's permit.  Then, punta ka sa BIR.  May information desk naman sila doon.  Sasabihin sa iyo kung anong mga form ang need mo i-fill up at mga requirements na isusubmit.

Dapat din may TIN ka na.

[sweet angel]

kung napaaga ang turn over nung tapos di pa tapos hulugan yung downpayment... ano mas ok gawin, bayaran yung remaining balance para sa DP at iloan yung natirang 80% sa bank tapos iparent yung unit o wait yung totoong sched ng dp payment for more than a year pa habang iipon din para mabawasan yung need iloan sa bank.

salamat sa mga sasagot

[LilaFowler]

You need to do the numbers talaga.

Madami kasi variable like
For example, how much mo mapaparent and how much ang loan repayments etc.

Also kung pahihiram ba ng bank yung full amount ng balance kasi may max na loan to value ratio yung banks. So depends on how much is owing vs value ng property.

[hisana]

Hi landladies, may issue lang ako. I'm renting right now pero I don't think matatapos ko yung contract (I have nine more months to go, but am planning on moving sa feb pa naman). May lilipatan na kasi ako na condo that we bought, plus it's so noisy here, I can't get a decent night's sleep. Now, wala kasing nakastipulate na anything clearcut about preterminating the contract. Tinanong ko na yung landlord, give him time raw to think about it.

May tenants na ba kayo na nagpreterminate? Do I need to request another contract/agreement once pumayag na sya na umalis ako, proof na he consented to it and that ibalik nya yung remaining checks? Any tips on any other thing I should clarify with him or make sure of? Sorry, wala kasi akong experience sa ganito.

[eischied_21]

Hello, I would like to ask kun may umuupa ba ng semi-bare unit? Yun tipong walang appliances like tv, ref and bed. Pero meron naman aircon, water heater sa shower, stove, kitchen and cabinets.

[rasee16]

Hi landladies, may issue lang ako. I'm renting right now pero I don't think matatapos ko yung contract (I have nine more months to go, but am planning on moving sa feb pa naman). May lilipatan na kasi ako na condo that we bought, plus it's so noisy here, I can't get a decent night's sleep. Now, wala kasing nakastipulate na anything clearcut about preterminating the contract. Tinanong ko na yung landlord, give him time raw to think about it.

May tenants na ba kayo na nagpreterminate? Do I need to request another contract/agreement once pumayag na sya na umalis ako, proof na he consented to it and that ibalik nya yung remaining checks? Any tips on any other thing I should clarify with him or make sure of? Sorry, wala kasi akong experience sa ganito.

Hi sis, I had one tenant who pre-terminated her contract. Supposed to be a 1 year contract, and she issued post dated checks for the whole stay. When she told me that she's leaving on the 3rd month palang due to unforeseen circumstances, I told her to look for a tenant replacement kasi breach of agreement yun eh. Sabi ko 1 year parin ang contract namin so ihuhulog ko parin ang post dated checks nya. So yung kapalit nya, sa kanya magbabayad. Usapan na nila yun. Basta 1 year parin ang contract namin.

[liana]

Hello, I would like to ask kun may umuupa ba ng semi-bare unit? Yun tipong walang appliances like tv, ref and bed. Pero meron naman aircon, water heater sa shower, stove, kitchen and cabinets.

Yes sis. Actually marami pa rin naghahanap ng semi-bare, usually unfurnished but with aircon/heater. Yun nga problems ng mga agents dami daw naghahanap kaya lang most condo owners furnished ang ginagawa cause mas malaki ang lease or pwede ipa airbnb. I helped my friend kasi last year to lease one and medyo natagalan ako maghanap sa MOA area

[eischied_21]

^Thanks liana. Your input is very much appreciated and helped me in decision-making. The building doesn't allow airbnb kasi, 6-months to 1 year ang minimum stay for leasing.

I'm in the process of constructing my newly turned over unit and this is my dilemma now. Ayoko kasi masyadong malaki ang asking for monthly rent baka matengga ang unit ng matagal ng walang nagrerent so naisip ko na paupahan ng semi-bare.

I bought the unit as in TOTALLY bare (hindi maayos ang wall/ceiling paint, walang tiles, etc), so ang ipapaayos ko lang is mostly floor tiling, electrical works, ceiling and lightings, kitchen with cabinets, rangehood and cooktop, wardrobe cabinets and bathroom cabinets, aircon and water heater. Eto nga lang kaso medyo mahal na nga din pa-construct ko nyan, so naisip ko wag ng bumili ng appliances. Anyway, tv, ref, bed, microwave lang naman ang wala.