PMT Forum
Do you want to make money today? :)

Warning! Airbnb not allowed in some condos in the Philippines

balikpinoy · 18 · 5685

balikpinoy

  • Newbie
  • *
    • Posts: 1
    • Likes Received: +0/-0
For those thinking of buying condo units to use as Airbnb rentals, please be aware that there's a current trend of Condo HOA's in enforcing no transient rentals (less than 6 months). 
For example, condos in Rockwell have disappeared from Airbnb due to a threat of 50000 pesos fine per day if a unit is rented via less than 6 months.

So for future investors, please do your due diligence.  Check what the current HOA regulations are regarding short term rentals of the condo property you are considering purchasing.

Right now, long term rentals in Rockwell area condos have dropped significantly due to the glut of new rentals now being advertised since unit owners cannot rent their condos on a short term basis. 



richpulubi

  • PMT Jedi 2500
  • ****
    • Posts: 2,864
    • Likes Received: +2/-0


Fastlane_dude

  • Junior Member
  • **
    • Posts: 28
    • Likes Received: +0/-0
This is BS! There are still plenty of unit listed on air  bnb @ Rockwell.


chosenjuan1992

  • Newbie
  • *
    • Posts: 2
    • Likes Received: +0/-0
Guys can someone help and guide me?

ive been seeing a lot of pre selling units by empire east and i am very interested in getting one unit. Kaso ang plan ko is to get a unit using Pagibig loan. Ang purpose ko ng pagbili ay para ipa upa ito then ung ipang babayad ng tenant ko ay ito ung ipambabayad ko sa loan. My questions are;

1. Sino dito ang nakapag try na ng ganitong style and how nice is it?
2. Magkano yung usually nagiging gastos nyo when it comes to tax as i think me tax pag ganito
3. Yung location ng unit is at mandaluyong, projected monthly payment ko is 14k per month for 25 years, since pre selling ko sya mabibili, what if i re sell ko sya pag RFO na? pano ung loan ko?

Sorry guys kung medyo madami ung tanong ko. And thank you in advance for the help. :)


jenofstructures

  • PMT Idol 1000
  • ****
    • Posts: 1,339
    • Likes Received: +7/-0
I think its better na bumili ka dahil don ka titira not to buy for rent. Lalo na kung aasa ka lang sa rerenta para mabayaran ang loan. Kasi hindi naman ganon kadali humanap ng renter all the more, yung "magandang" renter everytime.
Isipin mo kung may uupa ba na more than 14k a month sa condo base sa location mo. More than 14k kasi mataas din ang monthly dues sa condo.


thomaspastoral

  • Newbie
  • *
    • Posts: 5
    • Likes Received: +0/-0
Good information about that. Most of the time, people buy their unit and convert it into an investment by BNB-ing it. It can be good, but it can be bad. Either way, you need to see if these things are really good for the economics or for your own investment. Remember: there are a lots of units in the market today. It can be very much difficult to compete in this world when it comes to that. All you need is to make it more presentable and stand out among others.
« Last Edit: Mar 01, 2018, 10:23 PM by FutureGizmo »


wilch23

  • VIP 6500
  • *****
    • Posts: 6,544
    • Likes Received: +8/-0
Question:

Can a HOA control what a homeowner wanted for his unit?
Maybe the owner was tricked into signing an agreement with a limitation of how his unit can be rented out. Otherwise, I don't see how an association can prevent a unit owner from renting out a unit on his terms.

Lawsuit na yan.

Even if the HOA have such a provision in its charter, which I highly doubt, unless a unit owner expressly agreed to it in writing, it cannot be forced on the unit owner.

In case the HOA can actually get legal judgement in its favor, maybe the owner can still opt out by forcing the HOA to buy him out.



firstandlast

  • Forum Tambay 200
  • ***
    • Posts: 274
    • Likes Received: +3/-0
As far as I know, nasa contract yan before you buy the condo unit. Whether it's allowed to have your unit rented or not. But, hindi naman namo-monitor yan kaya marami ang nagba-violate at hindi naman sila nahuhuli. Pero pag nahuli, bayad lang ng penalty.

But if wala naman yan sa contract before you buy the property, then you rent it out, and suddenly, HOA made a new rules na bawal ang rental ng unit, then wala kang magagawa but to follow. Kasi nasa contract din yan na if ano ang napag-agreehan ng nakararami, yun ang masusunod. Parang politika yan or a corporation.
« Last Edit: Jan 26, 2018, 02:58 PM by firstandlast »


firstandlast

  • Forum Tambay 200
  • ***
    • Posts: 274
    • Likes Received: +3/-0
Guys can someone help and guide me?

ive been seeing a lot of pre selling units by empire east and i am very interested in getting one unit. Kaso ang plan ko is to get a unit using Pagibig loan. Ang purpose ko ng pagbili ay para ipa upa ito then ung ipang babayad ng tenant ko ay ito ung ipambabayad ko sa loan. My questions are;

1. Sino dito ang nakapag try na ng ganitong style and how nice is it?
2. Magkano yung usually nagiging gastos nyo when it comes to tax as i think me tax pag ganito
3. Yung location ng unit is at mandaluyong, projected monthly payment ko is 14k per month for 25 years, since pre selling ko sya mabibili, what if i re sell ko sya pag RFO na? pano ung loan ko?

Sorry guys kung medyo madami ung tanong ko. And thank you in advance for the help. :)

1. Never tried it. Kailangan mong pag-aralan yung labas at pasok ng pera mo for 25 years if you rent out your unit. And it's not easy. In 25 years, kikita ka ba or malulugi ka ba? You have to make a tabulation of the monthly expenses vs. monthly income for renting out the unit. Include your own personal expenses for visiting the unit like fuel or transportation, your time and efforts. Because time and effort are also money.

2. You have to pay a yearly income tax and the real property tax. Income tax depends how much it generated from renting it. Real property tax is based on the assessed value on the property by the city government.

3. That's the best thing to do, buy it at a lower pre-selling price, then sell it at a higher price when it's RFO na. You just have to pay the capital gain tax. You can sell it as assume balance if bank loan. The buyer will either buy it in cash and pay your balance to the bank or just transfer the loan to the buyer.

Hope this helps.


KatieScarlett

  • Probie
  • **
    • Posts: 10
    • Likes Received: +0/-0
I hope this doesn't spread to other condo buildings. I'm planning on having my unit listed in airbnb to cover the mortgage while working abroad. Maybe the HOA of "posh" areas/buildings don't want the unwashed masses among them but maybe other areas are safe? *crossfingers*

How about in BGC area?


Mila

  • Probie
  • **
    • Posts: 11
    • Likes Received: +0/-0
Buy a house and lot... You have all the freedom on what to do with it


carocuello

  • Newbie
  • *
    • Posts: 1
    • Likes Received: +0/-0

gogoypmt

  • Forum Tambay 100
  • ***
    • Posts: 147
    • Likes Received: +1/-0
Condo unit mahirap na ngayon dahil sa dinami dami nagsulputan.. BPO Industry hindi forever yan, kaya malaki chance mabawasan rerenta, or madami mafoforeclose na mga unit. pero kung malapit sa mga schools/uni ay mas ok.


wilch23

  • VIP 6500
  • *****
    • Posts: 6,544
    • Likes Received: +8/-0
Bakit mawawal ang BPO?
At kung nawala ang BOP, unemployed na?
Saan na titira? Back to probinsya?


 


Recent Posts

Construction Cost - Concrete by MaxP
[Today at 02:13 PM]


How to play online casino and win big by ThomasPal
[Today at 02:59 AM]


How to play online casino and win big by ThomasPal
[Today at 02:59 AM]


New to options and stocks by meklein
[Yesterday at 07:15 PM]


Anyone investing in copper? by MaxP
[Yesterday at 04:03 AM]


Fx-Market News And Analysis by TraderSmith
[Dec 13, 2019, 10:24 PM]


Should I invest in Mutual Funds/ How to!!!! by BernalFernas
[Dec 13, 2019, 08:54 PM]


20% tax on interest!! by BernalFernas
[Dec 13, 2019, 08:53 PM]


Trailing Stop questions... by ColtonCarson
[Dec 12, 2019, 07:04 PM]


The Trillion-Dollar Lawsuit That Could End Financial Tyranny by AMARANTH
[Dec 12, 2019, 01:50 PM]


Beware of CDC Realty by Brightside87
[Dec 12, 2019, 12:49 PM]


98% of Ransomware victims were using windows 7 by MaxP
[Dec 12, 2019, 03:08 AM]


How to speed up website load time? by MaxP
[Dec 12, 2019, 03:06 AM]


Business offer/Co-financer in need by MaxP
[Dec 11, 2019, 11:59 PM]


Where to invest US$ in PH??? by BernalFernas
[Dec 11, 2019, 07:07 PM]

PMT Shoutbox

Refresh History
  • Post only questions or comments here. Advertisements NOT ALLOWED.
  • Niel Jhacoubs: To bpc85 kung nakalagay ang inyong names sa beneficiary list ng iyong ama kay may makukuha po kayo.
    Nov 28, 2019, 02:18 PM
  • Niel Jhacoubs: Hellooooo, its been a while. :)
    Nov 28, 2019, 02:16 PM
  • miakashidou31: hi , meron po ba ditong nagta transfer sa paypal?
    Nov 05, 2019, 01:46 PM
  • whennedy: good noon po
    Oct 18, 2019, 12:04 PM
  • edzlpdac: goood day po sa lahat!
    Oct 12, 2019, 03:37 PM
  • bpc85: ask lng sana ako kung may makukuha ba kami ng Mama ko at ako or mga kapatid ko sa benepisyo ng aming Ama bilang membro ng AFPSLAI. thank you po.
    Sep 27, 2019, 12:52 PM
  • bpc85: Hi guys, im new here,.
    Sep 27, 2019, 12:52 PM
  • Anaperdi: Hi just want to know if meron dito who is into boundary hulog ng motorcycle? For mga riders ng courier. Pwede ba magpashare how it works? Naisip ko lang baka pwede ko ibusiness, meron na pala mga posts online pero di pa clear ang system sa akin. thank  you sa makakapansin
    Sep 21, 2019, 11:32 AM
  • Anaperdi: Hi newbie here..
    Sep 21, 2019, 11:19 AM
  • jprios: May contact ba kayo kung sakali?
    Sep 18, 2019, 06:11 PM
  • jprios: Sino pwedeng mahiraman dito?
    Sep 18, 2019, 06:09 PM
  • kfg52: Present!
    Sep 15, 2019, 07:26 PM
  • juju31: san po ba may nag papahiram dito
    Sep 14, 2019, 07:18 PM
  • juju31: hello
    Sep 14, 2019, 07:18 PM
  • FutureGizmo: Thanks julz! Medyo ganun nga trabaho namin ngayon, to monitor spam posts kasi ang daming spam bots. But thanks for reporting. Auto-ban agad ang spammers sa amin haha
    Sep 07, 2019, 12:17 PM
  • julz: @FutureGizmo si @nikkikv18 just posted more than 10 posts about porn sites. hay, spam.
    Sep 03, 2019, 01:05 PM
  • Cid_brent: sino po dyan pwede magbigay send ng paypal funds and I will pay you using gcash?
    Aug 25, 2019, 08:58 PM
  • Meghan91811: Sino po may alam about Rice Farming...
    Aug 25, 2019, 07:44 AM
  • roselove: hello po sa inyo... newbie here
    Aug 06, 2019, 03:31 PM
  • Niel Jhacoubs: Sino palaging active dito?
    Jul 30, 2019, 04:15 PM
  • dagocjasonrey: Anong update dito?
    Jul 22, 2019, 08:49 PM
  • mark_Lee: anong bago dito
    Jun 28, 2019, 01:03 AM
  • mark_Lee: balita
    Jun 28, 2019, 01:03 AM
  • Lovelyprincess72: hi everyone , I'm newbie here
    Jun 27, 2019, 02:36 PM
  • Niel Jhacoubs: Musta?
    Jun 26, 2019, 01:43 PM
  • Forexanalysis: Hello
    Jun 25, 2019, 06:33 PM
  • Niel Jhacoubs: Hello sa mga online jan! :)
    Jun 15, 2019, 02:58 PM
  • oragon: :applause:
    May 20, 2019, 03:53 PM
  • FutureGizmo: Thank you for reporting those spam posts, oragon! Spam posts now deleted.
    May 20, 2019, 01:59 PM
  • oragon: Admin kindly monitor some peps! posting and sharing inappropriate nude photos and website links
    May 20, 2019, 01:52 PM
  • @culinary10: Hello I am new here! Regarding sa bdo life insurance for 8 years, pwede pa kaya ma refund yung binayad ko na 50k last year? Gusto ko sana icancel kasi lack of financial na, last may 15 2018 po un nag start ako ng life insurance, pinili ko annually kaso etong may 15 2019 wala nako ma ipay so gusto ko sana icash out, may alam ba kayo kung pano marerefund?
    May 17, 2019, 07:56 PM
  • FutureGizmo: Hi Sonny, the posting issue is now resolved. Thanks for informing us! We're currently testing a new, mobile-ready theme so let us us know kung may problema pa sa Forum. :)
    Apr 04, 2019, 10:40 AM
  • sonny.wapak: Nakaka receive din ba kayo nito pag gawa ng new post? "Please try again. If you come back to this error screen, report the error to an administrator."
    Apr 03, 2019, 10:56 PM
  • leonine_zafiro: what product nun?
    Apr 01, 2019, 10:25 PM
  • dhondiex27: hi
    Mar 30, 2019, 10:55 PM
  • lusart: jayrob i agree 200%. hulog ng langit organico. legit na legit
    Mar 29, 2019, 09:08 AM
  • palemelch: Hi
    Mar 28, 2019, 04:08 PM
  • O.C.W._AK: Magandang Araw sa Lahat! Blessings! (",)
    Mar 28, 2019, 08:42 AM
  • thor15: hello everyone, newbie here
    Mar 25, 2019, 01:47 AM
  • captjaylo: present newbie here
    Mar 22, 2019, 10:06 AM
  • balboagilbert26: hello Guys .. Newbie here
    Mar 21, 2019, 10:55 PM
  • businesswoman2019: @jefsanity nag inquire na po ako pero di sila nagdidisclose. Yung branch po kasi na target ko, currently building pa.
    Mar 21, 2019, 04:27 PM
  • jefsanity: @businesswoman2019, much better inquire ka na lang sa admin nila.
    Mar 21, 2019, 01:51 PM
  • businesswoman2019: Hello! Any idea how much ang stall sa waltermart. 2m x 2m
    Mar 21, 2019, 08:28 AM
  • John Neil: Looking for an accredited iron foundry
    Mar 17, 2019, 03:19 PM
  • jayrob: Mark_Lee ung organico legit po yan..  Member din AQ..
    Mar 17, 2019, 12:57 AM
  • perlymelad: Hello po! Need advice, why my new MLM leaders failing?
    Mar 14, 2019, 08:51 PM
  • perlymelad: Present
    Mar 12, 2019, 07:53 PM
  • kennethmauricio: Hi saan po dito pwede mag post ng for sale properties?
    Mar 11, 2019, 07:58 PM
  • jefsanity: @mark_lee isipin mo anu passion mo at skills mo...
    Mar 11, 2019, 06:52 PM