6 Tips to Consider Before Renting a Condo

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The real estate industry in Philippines is on the rise and for the metropolitan locations like Metro Manila, condo living is very much in demand. However, the price of the condominiums is fairly high in the place compared to other forms of living options.  Though the condos are smaller when compared to the traditional houses, but they offer a plenty of benefits. A recent condo boom brought about the availability of tens of thousands of the condo units in the Metro Manila.

There are people who get satisfied for whatever space they could find as long as it fits their budget. So for those who are still searching their perfect condo for rent, read on about some tricks in order to be a smart renter.

✅ Know your Priorities and Narrow your Search

Create a list of what exactly you need and want. Rental condo in Philippines belongs to various communities, districts and neighborhoods. Some might be nearer to public transportation and highways instead of malls and schools. Re-assess what exactly you need and want so that you can narrow down your search. If you are looking for a condo near your workplace, make that a priority then. Moreover, having too many considerations on your short list will make your condo hunting quite difficult.

✅ Check for the Amenities

Condos for rent in Philippines are usually priced high than the Manila apartments for rent because of their location and availability of various amenities. Walk around to see if you want to spend time in the pool area or if the gym has all the equipment you need. If you like to go on an early morning jog, find your spot and make sure that your kids find their spot too.

✅ Clarify Your Doubts

Just make sure that you clarify everything that you do not understand. Make sure that the lease term is what you expected to be. Do understand the terms and conditions for renewal of lease and mark the dates accordingly. Moreover, understand the security deposit terms and ensure that you will get it back in a timely fashion.

✅ Parking

A parking space can either make or break a deal. Look to find out your slot, if any. Find out if there is a designated parking space for the guests, too. However, if there is none, just know about your options. Do ask the administrators for the parking spaces being rented out or if there is a private banking lot near your place, if they can suggest. Apart from this, you must also know the risks associated with street parking in the area.

✅ Unravel the Hidden Costs

Usually, things are the not the way they seem to be. It is very essential for you to run through all the costs when renting a condo. Is there a fee for using the swimming pool? Is the parking space fee included in the rent? Are windows, cabinets, or heater included? These are some of the things that might cost you in future, so it is better to make things transparent.

✅ Negotiate

You must know that everything on the contract is negotiable. Negotiating won’t hurt you, so why not try asking. No one can stop you from negotiating the rental rate. Parking charges and the association dues are also the things that you want might consider for the negotiation. Even the term of the contract can be negotiated, if at all you want it from six months to one year. Just give a try.

So if you are looking for Condo Rentals in Philippines, remember that renting should be taken seriously as it is still considered a long-term commitment. Just make sure that everything looks perfect and feels amazing. You have to be smart with your choices and firm in your decisions.

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