Realty By JM

Salt and Light of Philippine Realty

Steward Concept of Ownership

When I attended the seminar for the real estate broker’s exam, this concept his me: “Ownership carries with it a distinct social obligation.  As stewards of their land, owners are obliged to use their properties to promote not only their interest but also the general welfare.  When a person’s landholdings exceed the requirements of his needs, or their utilization is not conducive to general welfare, the state may exercise its power to regulate and control ownership.”

Recently, I was led to a Tempo online article or reflection on the Parable of the Tenants (http://www.tempo.com.ph/2011/the-parable-of-the-tenants/#.Tp4b_Ztry2Q)  I said to myself: “O.K. I get it. As long as I am in this world, I will never own anything. The houses, money, and everything that I hold now are just ‘borrowed!”  So, if I want to be a better steward, I need to take care of it.  I need to use it to produce some sort of fruit.  For the glory of the One who lent it.

It sometimes baffles me when a property owner says: “I’d rather have that property rot than have it rented at the price lower than what I want.”  Do you hear yourself saying this?  Don’t you think it’s like wasting a resource?  Why not make it produce something rather than nothing?  A non performing asset is usually a liability.  Why not turn this liability to an asset?  All it needs is a little sacrifice.

Ultimately, even if on paper it says: you own the property, you never own or will own anything.  If the government sees a property that is not producing fruit (property not producing realty tax), it will be taken away from you.  It will be given to someone who will make it productive. Now, can you still say you ‘own’ a property?

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Filed under: Personal Development, Spirituality, , , , , , , ,

2 Responses

  1. froilan says:

    You hit the nail on the head, Monty! I encounter property ‘owners’ like that from time to time. And it really makes me cringe when they say those lines, especially when the property involved is just a vacant land that is being offered for lease. Unless the lease offer is absurdly low–any offer (especially when there’s no one else wanting to offer)– should be good and must be considered. It could be short term, initially. But if the proposed use is sustainable and would tend to make the value of the land appreciate significantly over time, the owner should not insist on his incredible (if not absurd) terms. Cheers to good stewards!

    • R.E.B. Monty says:

      Finally, a serious and insightful comment. Before anything else, thank you very much for your comment. Steward Concept for Ownership is somewhat an oxymoron, some say. For if you are the true owner, how can you be a steward of a possession? I think the problem lies in thinking that we own something. It’s difficult to accept that we live on Earth temporarily and that we are mere borrowers of what’s in this realm. I don’t want to sound philosophical but, I think this discussion cannot avoid philosophy. Only if the so called ‘landlords’ realize that they’re mere stewards of their lands, will they act without waste.

      Our Real Estate Profession is indeed very difficult work. For we need to put up with naive stewards of property. May you continue to thrive in your profession and may you continue to show grace to those who needs your help. God bless you.

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