Realty By JM

Salt and Light of Philippine Realty

Do Landlords have the right to present their property without asking current tenant?

In most lease contracts I’ve read, this question is often left unanswered. Did you observe it too? Though it seldom poses problems, I believe it should be discussed between landlords and tenants. Since tenants are stewards of the property for lease until contract expires, don’t they have the right to refuse viewing visitors? What’s your take on this? Please leave your comments below. Thanks.

Advertisements

Filed under: Real Estate Broker, , , , , , , , , ,

Realty Weekly (17.02.12)

A Successful Lawyer Finds Fulfillment in Realty Development

Awesome Pro-Friends Developments in Iloilo

Safe, Secure Condo for Children

1 Condo Unit Sold for Every 8 Minutes

Squatters Invade Lingayen Beaches

No Lessee Shall Violate Environmental Laws in Camp John Hay Complex

SMDC Thinking of Getting in to BPO Developments

Landco Sales Up by 20%

Four Developers Interested in Ortigas Property

PRC’s Approved Resolution for Real Estate Service Practitioner’s Registration Without Exams For February 2012 is Out

Rockwell Land Redies Listing For Local Bourse

San Miguel Corp. is Owner of Malinta Estate

Property Boom in The Philippines Predicted!

Eton Properties to Turn Over 2,000 Residential Units This Year

SMDC Claims Top Spot In Condo Sales

Philippine Lender Buying Developer Stocks

Ortigas & Company Allots 3B for Residential Project in San Juan

Ayala Land Increases their Capital Expenditures

Is Megaworld Still Top Developer?

Megaworld Reported a Drop in Sales for 2011

Real Estate Firm Ordered to Pay QC Government 7M

PAG-IBIG Financing: How to Transfer Land Titles Under Your Name

Megaworld, PNB Make Condo Payments Easier

New Wilcon Depot Endorsers

RP Residential Market will Perform Well on 2012 – CBRE

Nature’s Elements in Eco Friendly Environments

Story on Viridian’s Groundbreaking

Birch Tower’s Last Beam Finally in Place

Marquee Residences Makes A Mark Up North

Here’s Another Article Regarding South Forbes Golf City

Camella Redefines Suburban Living in Dos Rios

DMCI Homes’ Maricielo Villas: Living the Vacation Lifestyle

Century Properties Eyes Infusion from Dutch Firm

Featured: Foreclosed Townhouse for Sale in Sancho Villas, Varsity Hills Subdivision, Quezon City

Filed under: Real Estate, Realty Weekly, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

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?

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

2 Month Security Bond: What’s it for?

Recently, in my practice, I’ve been encountering landlords (real estate property owners having their property rented / leased out) not willing to have their property occupied if prospective tenants can’t issue post dated cheques.  During the old days, this was never an issue.  Now, for me, it appears to be a very big issue!  Is it because we can’t trust anyone who doesn’t have a checking account?  What if the prospect is a foreigner who recently arrived Manila?  Local banks will only allow individuals to have a current account once they have a six month savings account with them.

No one wants to be hassled or bothered nowadays.  No landlord wants to talk to their tenants on a monthly basis getting the rent payment anymore.  Wouldn’t it be better if landlords and tenants have more than a professional relationship?  Not having this personal relationship may be the reasons why some tenants don’t care whether or not they trash the leased premises.  I think that landlord – tenant personal relationship is especially beneficial if the leased premises are residential.  For commercial and other types of rentals, I won’t say the same.  For, after all, it is a business transaction.

If prospective tenants are willing to pay a two month security deposit and two month advance (a month more than the standard), in cash, wouldn’t this prove they can afford to pay monthly?  Sometimes I wonder if landlords really want their property rented out!  Owners with a year old vacancy, wouldn’t you want to convert your liability in to an asset?  Just in case a tenant defaults in payment, isn’t this the reason why we ask for advance and security bond payments?  Why not loosen up?

Filed under: Leasing, , , , , , ,

Opening of Verde Weekends

Are you in to Zip Lines, Remote Control Racing, Zorb, Sunsets, great company, cocktails and good music?  Circulo Verde is inviting you to this weekend’s event.  Opening of the Verde Weekends! 

Shall I see you at Circulo Verde?  Do you want free passes for this event?

Filed under: Circulo Verde Project, Developers, Ortigas and Company, Quezon City, , , , , , , ,

Who’s Your Landlord?

My landlord is Ortigas and Company, Limited Partnership.  They are in the industry for almost 8 decades.  8 decades ago, the objective of the said partnership was to acquire the Hacienda de Mandaloyon.  Hacienda de Mandaloyon was part of the estate holdings of the Augustinian order.  The area of the hacienda is 4,033 hectares.  This hacienda is now known as the municipalities of Mandaluyong, San Juan, Pasig and Quezon City.  Needless to say, they are responsible for the development of the Ortigas business district.  If you want to know more about the old and new Ortigas and Company, (click here)

These are the people who started it all: Dr. Frank W. Dudley, Francisco Ortigas (Don Paco), Phil C. Whitaker, Vicente Madrigal, B.C.M. Johnston, Fulgencio Borromeo, Clyde A. Dewitt and Manuel L. Quezon.

Their mission and vision is simple: “To Be the Preferred Partner for Value-Driven Real Estate Ventures.”  They intend to accomplish this by consistently applying these core values: Customer Satisfaction, Creativity, Excellence, Loyalty, Integrity, Teamwork, and Employee Satisfaction.

What can you say?  Do you think Ortigas and Company will play a major role in Metro Manila’s realty developments within the next 1 to 2 decades?

Filed under: Circulo Verde Project, Developers, Ortigas and Company, , , , , ,

Where’s Your Farm?

If I consider myself a professional farmer, it is reasonable for my readers to ask; “Where is your farm?”  My answer is: “it is in Quezon City, Libis and very near C-5 Road”.  Who’s my landlord? – Ortigas and Company, Limited Partnership and their current project is Circulo Verde

As I said in my previous article, I am changing the purpose of this blog.  For now, this online journal will contain topics regarding Ortigas and Company and their current and future projects.  In the following articles, I will blog about my 12 hectare farm and everything about its development.  At the same time, I will post common client questions and my answers.

I chose to farm this 12 hectare land because I believe it is an oasis.  An oasis because it is a fertile land with water in the middle of a desert.  In this context, let us refer to the city as a desert where you seldom see open spaces or greeneries.  It is my desire to share this Circulo Verde Oasis discovery to all.

Those in the Realty industry, I encourage you share where your farm is.  We’d love to here about them as well.  So, what can you say about my farm?

Filed under: Circulo Verde Project, Ortigas and Company, , , , , ,

%d bloggers like this: