Buying a condo to rent out.

[mogo51]

2 hours ago, Mangoshake said:

So u bought a 2 or a 3 bedroom unit?

what sqm has the unit? High floor low floor?

Welcome to the forum, maybe tag part of the conversation to refer to for future reference.

[Mangoshake]

5 hours ago, Jollygoodfellow said:

So this topic is 4 pages long. Who are you asking the question too ? 

To the person who posted the topic he said the 4 M pesos unit sleeps six persons so i was wondering how many sqm and bedrooms it has.

[scott h]

13 minutes ago, Mangoshake said:

To the person

if you quote that post Mango, he will get a message that his post has been alerted and you are more likely to get a reply. Welcome to the forum 

[Snowy79]

26 minutes ago, Mangoshake said:

To the person who posted the topic he said the 4 M pesos unit sleeps six persons so i was wondering how many sqm and bedrooms it has.

64 sqm loft type apartment. In my eyes it's a great apartment for a couple maybe 4 at a push but the Filipinos seam to love it. They think nothing of sleeping 6 people in it and many times ask if they can bring more people and pay extra. The apartment has 2 double beds in the loft area and there's space for a full size inflatable double bed downstairs although most turn the large L shaped sofa into two single beds.

[Mangoshake]

1 hour ago, Snowy79 said:

64 sqm loft type apartment. In my eyes it's a great apartment for a couple maybe 4 at a push but the Filipinos seam to love it. They think nothing of sleeping 6 people in it and many times ask if they can bring more people and pay extra. The apartment has 2 double beds in the loft area and there's space for a full size inflatable double bed downstairs although most turn the large L shaped sofa into two single beds.

I see thanks for that information. So this is an older building? It Seems a reasonable sales price. So most your clients from Airbb are locals that book it short term?

[Mangoshake]

1 hour ago, scott h said:

if you quote that post Mango, he will get a message that his post has been alerted and you are more likely to get a reply. Welcome to the forum 

Hi Scott thanks for the kind words and  for the advice you are so right 😃.

[Jack Peterson]

Oh, OH my bad,   

[Snowy79]

2 hours ago, Mangoshake said:

I see thanks for that information. So this is an older building? It Seems a reasonable sales price. So most your clients from Airbb are locals that book it short term?

Not very old. I just struck lucky with a seller than needed the money. If you don't rush in every now and again you'll get a bargain. Usually an Ex Pat that built a mansion when he first arrived in country then realised the area wasn't to his liking or due to health he can no longer get up the stairs.

As for renters yes I target Filipinos via booking.com mainly and a few from Airbnb.

[Mangoshake]

11 hours ago, Snowy79 said:

Not very old. I just struck lucky with a seller than needed the money. If you don't rush in every now and again you'll get a bargain. Usually an Ex Pat that built a mansion when he first arrived in country then realised the area wasn't to his liking or due to health he can no longer get up the stairs.

As for renters yes I target Filipinos via booking.com mainly and a few from Airbnb.

Are there condos in Phills where short term rental is not acceptable by some law or is it always up to the owner of the unit?

approximately u have the unit now months or years? Do u have enough data to  calculate estimated rental returns for the first year? I just curious about the estimated  figure.

[Dave Hounddriver]

6 hours ago, Mangoshake said:

I just curious about the estimated  figure.

You can be honest and tell us that you want to make a similar investment and you are just doing your homework and asking questions on this forum   That is not breaking any rules.

6 hours ago, Mangoshake said:

Are there condos in Phills where short term rental is not acceptable by some law or is it always up to the owner of the unit?

So far as I know there are no regulations about short term rentals not being acceptable by law, but I sense you are asking if there are rules about operating your apartment like a hotel, with overnight guests.

There are rules/taxes for renting out any kind of unit and whether you fall under the rules of a pension house or just an apartment rental will be up to some bureaucrat to decide, which they will do if you start making serious money.  In my opinion its best to fly under the radar.  I doubt that most condo owners report the rental income and check all the laws (which are seldom enforced anyway). Any investment in Philippines is a risk.  Best of luck with it.