Living in the Philippines

Long Term Rentals - Philippines

For condominiums, the first thing you will be concerned about would be the available space. This depends on how much you are willing to spend or how much your company's budget for housing allocations is. Numerous condominium units are fully furnished and are ready for occupation. Space will be limited though as project plans often try to maximize the area. A lot of projects are owned by Filipino real estate firms.

Apartments offer more room to move and are usually privately owned, so the landlord sets rules and regulations. Some apartments are furnished, some not. If an expatriate prefers to decorate his own home to make it as comfortable as possible, he has the freedom to do so.

Houses for long-term rentals have more room and are ideal for foreign families. Staying in the Philippines for more than 5 years certainly calls for a more permanent abode, which a house can provide.

Finding Rentals in the Philippines

Available apartments, condominium units and houses that cater exclusively to expatriates can be found through from advertisements. Look through the classified ads section of newspapers, browse the Internet or make inquiries of different local real estate developers.

Referrals are often the most effective way to find housing deals. An expatriate would surely be willing to help a fellow foreigner that is staying here for the first time. Previous experiences will be invaluable to assist an expatriate and his family in finding where the safest and best quality residential dwellings are in the Philippines.

It is easy to identify typical expatriate living areas. If a large population of foreigners are visible in a particular community then it is probably a safe location. Makati and Ortigas have successfully combined office structures and residential buildings.

If you have been assigned outside Metro Manila or the National Capital Region, then Cebu or Davao are ideal places to be assigned. Housing accommodations in these localities tend to be cheaper than in the metro areas. Cebu has numerous expatriates that are either working or simply enjoying their retirement years.

Philippines Rental Prices

Location has a significant influence on the cost of lodging; proximity to the schools, supermarkets, churches, plus the quality of construction. The rental cost for small condominium units with simple amenities like a bedroom, kitchen and living room will be at least P15,000 a month (or approximately US$333 at the current average exchange rate of US$1:P45.00). The price charged may be different for expatriates.

Apartment costs will fall into the same range of minimum P20,000 per month (or approximately US$444). Prices will definitely vary depending on the requirements of the expatriate, as bigger rooms will merit a higher rental fee. The length of stay will likewise determine the rent.

Houses rented out on a long-term basis can rent for as much as P100,000 per month (or approximately US$2,222). The majority of the houses being rented out to expatriates are located in posh villages where only the affluent reside.

Owners impose a fixed number of months that have to be paid in advance before an expatriate can move in. Even if you pre-terminate your contract, advance deposits can no longer be recovered.

Philippine Rentals Problems and Caveats

An expatriate is not expected to be well versed with Philippine law. A rental contract may often have clauses that are disadvantageous to the foreigner. Signing an agreement impulsively should be avoided. What may be verbally agreed upon can be changed in the written agreement so you must take time to read what you are signing.

As a precautionary measure, seek advice from a competent lawyer before signing an agreement for long-term rental. A counsel familiar with local laws and statutes is required so that the interest of the foreigner will be protected. You may be spared direct dealings with the landlord if your company has already made the necessary arrangements.

A common problem with long-term rental sis the security deposit. This deposit is made to ensure that the tenant has not damaged the premises. The amount is returned back to the tenant after determining that everything is in place and upon turnover to the original owner. There have been reported cases of landlords who delay or refuse to return these amounts as they may have already spent the money on something else. Your only recourse is through threat of legal action.

Security during the duration of your stay is a principal concern for expatriates. The locals have a notion that any foreign looking individual that travels to this country has excess cash. That makes the expat a target for criminals. It is crucial that an expatriate look for a home where he need not be afraid that something might happen to him or his family.

Condominiums normally provide ample safety measures for residents. Security cameras are in place to monitor people going in and out of the place. An expatriate should rent a unit from a reputable real estate developer/owner to guarantee that he is safe and secure while inside the premises.

The security equipment installed in apartments would depend on the owner. One who charges a high rental fee is more likely to offer better measures for renter security.

Expatriates that live in houses located inside exclusive villages can depend on the security protection extended by the village or association itself. Strict regulations are observed as to the people who are allowed entry to such communities. Clearance from the resident must be received before anyone can go directly to anybody's home.

In Conclusion

An expatriate will not find it difficult to secure long-term housing that suits his preferences and his family situation. The Philippines has plenty of housing projects that are under development. One just needs to be resourceful in researching and asking for referrals from other foreigners who have stayed in this country longer.