Things To Remember Before Renting Out Your Condo Unit

Nowadays, there are numerous condominium buildings that you can find in anywhere in Metro Manila. The popularity of these condominium buildings can be attributed to the many benefits of living in a condominium especially if you are in Metro Manila. Most condominium unit buyers either purchase one for their own personal use or for the unit’s potential as a rental unit.

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The earning potential of renting out your condo unit is quite obvious with the number of Makati condominiums for rent alone. In business districts like Makati, condo rental prices can go higher than home rental prices in other areas. If you are thinking of purchasing a condo unit or you have a Bonifacio Global City condominium for rent, below are some tips that can help you before you rent out your condo.
 
  • Get your condo ready. Before putting up any advertisement for your condo unit, make sure that it is ready for viewing. Your condo unit has to be liveable already. In other words, the condition has to be ready for moving in. You will have to decide whether to offer a furnished or an unfurnished condo for rent. If you choose to furnish it, you will have to purchase and place the furniture and appliances beforehand.
  • Spread the word. Before putting out an advertisement online or in newspapers, try to ask your families and friends first if they know anyone who might be interested to rent your condo unit. It is often better to have someone you know rent out your unit instead of renting out strangers that you do not trust.
  • Make an advertisement. If you do not know anyone who is interested in renting out your condo unit, make an advertisement and post it in your building’s bulletin board if there is any or in public places in the vicinity. You may also want to post an advertisement online especially in forums, online communities, and sites that accept advertisements.
  • Have a rental agreement. No matter who will be renting your condo unit, it is important that you have a formal rental agreement which should be signed by you and the renter. This is for the protection of both your interests. Your rental agreement should include items such as the association fees, changes in the unit, deposits and advances, termination of contract, and many more. Consult a lawyer or someone you know who has been renting out a condo or house. And before both of you sign the agreement, make sure that each item is clearly understood by both parties and that all questions are addressed.

Comments

  1. DanicaMay 15, 2013 at 1:42 PM

    New launch AMK can be considered by those individuals who want to take their own housing properties. It provides real comfort and relaxation for the people. Still, thanks a lot for sharing your ideas when getting condo unit.

    ReplyDelete
  2. FrankMay 30, 2013 at 6:52 PM

    hank you a great deal with regard to expressing! Anyone deliver a great deal of valuable tips and advice. Economic planning is critical in addition to everybody ought to do the item - also start out while very young. But, it's just as crucial that you learn that we now have solutions as soon as folks require funds rapidly for instance receiving......






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    ReplyDelete
  3. Carlos Miguel De VillaJuly 1, 2014 at 2:07 PM

    Thank you for telling us what to do before renting out our condo. This is very useful! If ever you want to buy a condo in fort bonifacio, you can click here.

    ReplyDelete
  4. Sandra ParkerJuly 30, 2014 at 2:06 PM

    Thanks for sharing this kind of topic. This is a good help and useful. In the metro, there are many condos for rent and one of them is the Florence located in Mckinley Hill. It is good to rent a condo near at your work or school for the conveniently.

    ReplyDelete
  5. James AbramApril 15, 2015 at 9:24 AM

    Thank you so much for sharing your experties in this industry. Your blog will be of great help for those who seek real estate properties in the Philippines.

    ReplyDelete
  6. Sandra ParkerMay 4, 2015 at 4:52 PM

    These are good ideas! It will help the owner to promote her/his condos to be rented immediately. Also, it will help me soon. For now, help me to decide if the condo from www.admiralbaysuites.com.ph is a good choice.

    ReplyDelete
  7. UnknownOctober 26, 2016 at 5:50 PM

    Nice tips! this article helps owner their condos in Manila to be rented.

    ReplyDelete

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