Many people purchase a condo unit in Fort Bonifacio for the income generated from renting it out. If a unit is left vacant, however, a unit owner has to shoulder the association dues. For most people, this is an untenable position. To avoid such a situation, you could do well to heed the advice of experts. As a reader of theFortCity.com, you do not have to seek them out. We have spoken to Ms. Nikki Guhit, licensed inhouse broker of the FortBonifacioRent Group, and got you some great tips. The FortBonifacioRent Group is one of the most popular real estate brokerage companies that focus on the rental market in Fort Bonifacio.
We asked Ms. Guhit, "What are the most effective ways to get a unit rent out quickly?"
1. Cleanliness. Cleanliness. Cleanliness.
This may seem obvious, but Ms. Guhit shared some horror stories to show that this simple advice was not always heeded, and led to disastrous result. There was one unit which was not rented out for about a year, and the owner thought that as long as the prospect was informed of that, there was no need to do much about it. So toilet bowls had dry water stains, and dead cockroaches. She told the owner that she could not show prospective clients units in such a condition.
Sure enough, after the unit was properly cleaned, it was rented out in two weeks.
2. Make the unit look ready to move in
For a rental unit, it would rent out easier if it has the basic necessities on display during viewing, according to Ms. Guhit. This includes cooking utensils, some bedding, bathroom cleaning tools and appliances.
For a 2 or 3 bedroom unit, the appliances that should be provided are air-conditioners, refrigerator with freezer, water heater, washing machine with dryer and cooking range. For a studio or one bedroom unit, washing machine can be optional. While water heater may be optional for a local tenant, many foreigners are used to bathing with warm water, even when they are in the tropics. Thus, in Fort Bonifacio if you do not want to screen out half of the prospective tenants, you should have water heater installed in all the bathrooms.
If possible, install an inverter split-type air conditioner instead of window type, as it is quieter and more energy efficient.
3. Have a neutral and consistent color scheme for furnishing
Neutral color such as beige, ivory, taupe, black, gray, and white reduces the risk of turning off some clients. If you already have furnishing in a very daring color scheme, then at least try to remove items that do not go with the color scheme.
Country style furniture with bulky wooden chairs or tables do not look suitable in a condo unit.
Do not mix styles, like putting contemporary style furniture with country style pieces. (Modern design refers to a design style that was created in the 1920′s – 1950′s. It doesn’t change, and will remain as such for ever. Contemporary design is ever changing. It is of the moment. Right now, the contemporary style is represented by clean and straight lines and a casual feel.)
4. Remove items that you do not wish to let the tenants use
Prospective tenants are understandably put off by being told that something that is shown to them turns out to be not part of the deal, particularly if the item is something that the prospect likes. Imagine how you would feel if you rent an apartment mostly because you liked the furniture you saw, and then when you moved in, the nice furniture was changed to something with a different color, or style. Or, while viewing, you are told that the nice kitchen utensils you see will not be there when you move in. You would rightfully feel that you have been cheated, even though technically you have not.
5. Avoid over-crowding the unit
Some interior designers provide their clients with a lot of accent pieces, such as artificial flowers and plants in huge decorative vases. Some owners like to display their collections from overseas travels all over the unit. This may leave little room for the prospect to put their own touch to the unit. They may also not share the fondness for the items in the owner's collection.
From experience, Ms. Guhit found that most renters were attracted to units that appear spacious. Do not put a 8-person dining set in the living room of a one-bedroom unit.
A lot of people are sensitive to smell. In real estate, it can sometimes break a deal. Even when a condo unit has been cleaned thoroughly, after some time, bathrooms and toilet areas can smell badly because of the build-up of gas from the sewage system that runs through the whole building.
Remove source of odor if possible. As a final touch, open the windows at least 30 minutes before a client arrives for viewing. Put air fresheners in the bathrooms a day before the viewing time.
If you follow these valuable advices, your unit in Fort Bonifacio will be taken faster than otherwise. Of course, getting the right people to know about your unit is the first step. Post your property for rent ad in our real estate section to get the best result!
If you are looking to rent or invest in an apartment unit in Fort Bonifacio (also known as Bonifacio Global City), check out our real estate section to see property listings. In addition, we will soon be publishing an article to let you know the type of units that you can find in all residential buildings in Fort Bonifacio, so check back soon.
Ms Nikki Guhit can be contacted at 0917-5319284, firstname.lastname@example.org - Licensed Real Estate Broker - PRC 27205