Apartment/house rental business

[7391N]

How'd you guys think of an apartment near the airport? By the way, our place is in the south, so I'm not talking about NAIA :D

[5Speed]

hmmm interesting topic....

pinagbalakan ko na rin dati ito.... at that time eh 10k per sqm pa lang and its the good quality construction materials na....

[cardo]

How do you guys evict someone who refuses or hasn't paid rent? may connection kayo sa local police para sila magpalayas? or do you go to a legal office or something?

[mavs]

query, waiting for reply.
magkano expenses kapag yung steel roofing (129sqm.) gagawing concrete slab roofing? expenses sa Labor? sa materials.
para sa may mga idea sa estimate how much?

[_Cathy_]

We don't have a rental business but my question is kinda similar. My Uncle is renting our house and we gave it at a very good price. Previously kasi my Lola was paying a caretaker to stay in the house (all utilities shouldered by Lola) so now at least profit kami instead of expense. Anyway, my Uncle renovated the place and he gave us the accounting, I almost fell off my seat. Na shock nga ko I thought he'd do that for free kasi the rent is so LOW. He said that expense can be deducted from the rent so he only pays half OR he pays no rent until the amount is covered

50% of rent = 10 yrs for us to pay!
100% of rent = 5 yrs

My Uncle wants to buy the house kasi but we refused. I think he was hoping na he could deduct the renovation cost sa selling price

Now I don't know if we'll go for the 5 yrs or 10 yrs?

[kagalingan]

^
honest accounting?

[_Cathy_]

^
honest accounting?

I suppose but all the receipts are included naman. We'll have the CPA husband of my Tita check it

Sent from my SM-N960F using Tapatalk

[dr. d]

We don't have a rental business but my question is kinda similar. My Uncle is renting our house and we gave it at a very good price. Previously kasi my Lola was paying a caretaker to stay in the house (all utilities shouldered by Lola) so now at least profit kami instead of expense. Anyway, my Uncle renovated the place and he gave us the accounting, I almost fell off my seat. Na shock nga ko I thought he'd do that for free kasi the rent is so LOW. He said that expense can be deducted from the rent so he only pays half OR he pays no rent until the amount is covered

50% of rent = 10 yrs for us to pay!
100% of rent = 5 yrs

My Uncle wants to buy the house kasi but we refused. I think he was hoping na he could deduct the renovation cost sa selling price

Now I don't know if we'll go for the 5 yrs or 10 yrs?

was there an agreement prior to the renovation, as to how accounts will be settled?

if you are unable to agree on compensation,
"fair market value of the rent" would be a good number.

also,
document the condition of the house. take lots of videos and/or pictures.

[_Cathy_]

was there an agreement prior to the renovation, as to how accounts will be settled?

if you are unable to agree on compensation,
"fair market value of the rent" would be a good number.

also,
document the condition of the house. take lots of videos and/or pictures.

None. We were shocked at the amount my Uncle spent on the renovation. Anyway, it's just the decision on whether we will deduct the cost 100% or 50% from the rent. I think my Uncle was banking on we'll sell it to him kasi

[FrankDrebin]

Slow ROI yes indeed but my cousin has 200+ units. The usual problems he encounters are the "Professional" Apartment Peeps, increasing cost of contruction materials, etc.

[7391N]

Slow ROI yes indeed but my cousin has 200+ units. The usual problems he encounters are the "Professional" Apartment Peeps, increasing cost of contruction materials, etc.

What do you mean by "Professional" Apartment Peeps?

[FrankDrebin]

What do you mean by "Professional" Apartment Peeps?

If you rent an apartment, it have this 3 months advance payment etc. scheme. So these kind of people used up all its advance payment and enjoyed a few months free while waiting for the apartment owner to evict them.

[orly_andico]

according to my brother who works at the company which designed the columns, 15k/sq. m. yung the columns

so that should give an idea of what kind of quality you can get for that price.

[van_wilder]

to solve these "professionals" 1month - 2weeks pa lang before ng scheduled pag-alis nila dapat warningan mo na sila... and ilagay mo sa contract na dapat may buffer period na dapat vacate nila yun place 1 week before ending ng contract...

[van_wilder]

yep! pero di pa tapos yun website... hehehehe... actually si theveed yun gagawa...

may isa pa kaming company (subsidiary) ito yun link ... http://www.geocities.com/bcfae

[7391N]

yep! pero di pa tapos yun website... hehehehe... actually si theveed yun gagawa...

may isa pa kaming company (subsidiary) ito yun link ... http://www.geocities.com/bcfae

thanks for the link. ang dami nyo na palang projects a!

I think its a good long term investment.

landlord namin has over 25 units in the same village, each pays approx 8K a month, PDC for 1 year, etc...

usually naman kung maayos yung landlord maayos din naman tenants. The shorter the required tenure, the larger the chance na bababuyin yung lugar.

what does PDC mean? ako din prefer ko one-year, basta merong contract para black and white.

hey advice ko lang is consider mo maigi ung location ng appt mo and the type of people na maatract mag rent. Dun mo din dapat ibagay sukat ng unit. Malaking bagay kasi ung surrounding houses/structures sa appt mo kung upscale ba, mid-price o low cost ang appt na dapat mong pagawa.

thanks for the advice. i'll keep that in mind. yung lot pala namin ay malapit sa local airport dun sa province namin. ang target market namin ay mga foreigners, pero kung merong mga family na maayos ang income, ok din

[creepy]

what does PDC mean?

Post-dated check

[theveed]

I think its a good long term investment.

landlord namin has over 25 units in the same village, each pays approx 8K a month, PDC for 1 year, etc...

usually naman kung maayos yung landlord maayos din naman tenants. The shorter the required tenure, the larger the chance na bababuyin yung lugar.

[rst619]

hey advice ko lang is consider mo maigi ung location ng appt mo and the type of people na maatract mag rent. Dun mo din dapat ibagay sukat ng unit. Malaking bagay kasi ung surrounding houses/structures sa appt mo kung upscale ba, mid-price o low cost ang appt na dapat mong pagawa.

[CLAVEL3699]

business nang family namin yan we have apartments and building [ office space and commercial ] for rent.

bagal nga lang nang ROI pero sigurado ka at long term investment.