Moving to the Philippines as a foreigner can seem like a difficult task, but the process of moving to the Philippines can be broken down effortlessly. In today’s article, we will be focusing on how to rent a condo in the Philippines as a foreigner. Below we will be discussing the stages, tips, and extra information you will need when renting a condo in the Philippines.
In addition to how to rent a condo in the Philippines as a foreigner, we will also be exploring some vital information such as the deposit needed, how much a condo is to rent in Manila, other property prices in the Philippines, and what to check when renting a condo in the Philippines and lastly some handy tips and advice for renting in the Philippines.
How To Rent A Condo In The Philippines?
1. Investigate Your Options
Before renting a condo in the Philippines, you will need to see the available options. If you are looking at how to rent a condo in the Philippines as a foreigner, I would recommend heading over to the local Facebook pages for the most up-to-date and relevant listings. Many agents and landlords post regularly on these pages, and popular listings often become unavailable fast.
If you are looking to rent a condo in Cebu as a foreigner, for example, you will find many pages dedicated to buying, selling, and renting condominiums all across Cebu. In addition, there are often some fantastic deals on the buy and sell pages of Cebu, but the condo pages specifically are often where you will find the most up-to-date bargains.
In addition to Facebook pages, there are also real estate agency firms all across the Philippines. Finding a real estate agent is very straightforward, but as mentioned, if you are having difficulty, many can be found on social media pages.
The last option is to look at property websites. Here is a list of the most common property websites in the Philippines
Dot Property: https://www.dotproperty.com.ph/condos-for-rent
My Property: https://www.myproperty.ph/condominium/rent/
Property 24: https://www.property24.com.ph/condominiums-for-rent
As you can see, there is a mixture of options. The above websites are also a great place if you are looking to invest in a condominium. However, they often do not include pre-selling condos which are usually recommended if you purchase a condominium in the Philippines for investment purposes. The next stage on how to rent a condo in the Philippines as a foreigner is to arrange your viewing.
2. Arrange A Viewing And Check The Facilities
At this point, you will have found several places that you are interested in moving to, so what’s next? The next stage is to visit each property and examine the inside and the outside to see if it’s suitable for your needs.
One of the highest costs for a foreigner living in the Philippines is the rental costs. Unfortunately, on some occasions, rental prices can be increased. Still, apartments can often be found cheaper but usually do not include the facilities you gain from a condominium.
One piece of advice I would give to those who require the Internet is to check the local connection with the Wi-Fi provider. Unfortunately, in some areas in the Philippines, the location and size of the condominium can slightly disrupt connection strength. The good news is, however, that most mainstream Internet providers can track the signal strength before you decide if the condo is right for you or not.
3. Read And Sign The Official Contract
Next is the official contract, which is an integral part of moving to the Philippines as a foreigner, as in most cases, you may be locked in for a certain period, typically a minimum of six months. There may or may not be clauses in the official contract, so this is why it’s essential to negotiate and discuss before signing anything legally.
On some occasions, landlords can become quite sneaky. For example, when looking at how to rent a condo in the Philippines as a foreigner, it may seem that they are trying to take advantage of you as you are a foreigner. But, those sneaky landlords try to take advantage of everyone, whether they are Filipino or a foreigner.
An example of this is if a landlord asks for a higher deposit than is needed (more on this below). There is a great deal of Filipino law around this subject, but landlords try to manipulate the rule on some occasions. According to the PSA regarding data gathered a few years ago, there are at least 1.5 million renters in the Philippines, and these laws are created to protect these residents.
4. Pay The Deposit
When exploring how to rent a condo in the Philippines as a foreigner, the deposit is often a talked-about topic. This is because, in the Philippines, you will be required to pay two monthly deposits and one month in advance in most situations.
This is now standard practice across the Philippines, but landlords have been known to lower this and require one month deposit and one month advance, but this often puts them at a higher risk and is not common.
As mentioned, on some occasions, landlords will try to increase the amount of money required, and there have been reports of landlords asking for two months’ rent and two months in advance, and there have even been other reports of landlords requesting a higher amount. If you are in this situation, it is often recommended to walk away as there are usually plenty of other opportunities.
Paying the deposit will often happen during the same time the contract is signed. So if you are paying in cash, it’s imperative to gain a receipt from your landlord or some other form of physical evidence. Electronic transfers are often recorded, but still, it’s advisable to obtain some acknowledgment from your landlord.
When renting a condo in the Philippines as a foreigner, the most exciting stage is moving in. Therefore, I often recommend finding a hotel or nice Airbnb for 5-10 days when moving to the Philippines as a foreigner as this will give you enough time to find a nice place and finalize all the finer detail.
Landlords put many things into a house or a condo that we renters don’t like! You most likely know these objects. They tend to be old antiques, plastic flowers, or something that may seem nice for a few days but often gets in the way. If they are broken or damaged, there is often a cost, so it’s best to ensure that these are placed somewhere out of the way safely.
How Much Is The Deposit To Rent A Condo In The Philippines?
The official deposit amount renters need to pay to rent a condominium in the Philippines is two months’ rent (used for the deposit) and one-month advance rental. This is what is referred to as the two monthly deposits and a one-month advance agreement. So, for example, if the condominium in the Philippines has a rental price of 10,000 Pesos, the total amount you will need to pay before moving in will be 30,000 Pesos (two months deposit 20K + one month advance 10k).
At this moment in time, It’s illegal for landlords to charge a higher amount than this as per Filipino law. Still, there have been reports of landlords asking for a higher amount. Still, I could not find any official arrests or prosecution for those who broke this regulation during the investigation.
When looking at how much is the deposit to rent in a condominium in the Philippines, it’s essential to add that even though commonly two months deposit and a one-month advance (total of 3 months rent) is the standard, on occasions, some landlords do lower this. Still, many do not, as it puts the property owner at financial risk.
How Much Is A Condo To Rent In Manila?
One of the benefits of living in Manila is the number of options for condominiums and apartments. But what can you expect to pay, and how much is a condo to rent in Manila?
The average cost of renting a condominium in Manila will depend on the location in Manila and the facilities included. A small studio in Manila can range between 15,000 – 18,000 Pesos. A larger one-bedroom unit stretches between 18,000 – 24,000 Pesos, while a two-bedroom unit can start around 24,000 and can go as high as 40,000 Pesos or more.
Suppose you are planning to live in the metropolitan areas of Manila or a popular condo. In that case, prices will likely be at least 10 to 15% higher than those stated above, but this is a general rule, and even in the most popular areas, there are sometimes deals to be had.
You will often find a fantastic condominiums in Manila for a reasonable price. Still, if you plan to live in other areas such as Davao city, you will often find you can get more for your money in the South.
What Is The Average Rent In The Philippines?
There is no official average for rental prices in the Philippines. Some sources are suggesting average rental prices, but these differ depending on the location. The major cities often have higher than average rental costs nonetheless.
The other challenging aspect of this question is that landlords continuously change the rent price, so there’s no way that we can officially state the average rental cost for the Philippines.
How Much Is A Property To Rent In The Philippines (Excluding Condos)?
The total price a property will cost to rent in the Philippines will depend on the property type and area. Statistically, there is no average price, and from feedback from renters, it’s clear that there is a great deal of price fluctuation that is due to the geographical location and the property’s facilities. Nonetheless, apartments can often be found much cheaper than condominiums.
As an example, a condominium for a standard small studio can be priced around 14,000 – 17,000 Pesos in the South (maybe much higher in other areas). But an apartment in a similar area can be as low as 5000 Pesos (and even lower). So the question is, why is there a significant change in rental costs?
Well, the answer is it’s all down to what’s included. And this is very important to consider when looking at how to rent a condo in the Philippines as a foreigner as you may need to make some decisions between convenience and price.
What To Check When Renting A Condo In The Philippines
To make things straightforward, the following areas you will need to check when renting a condo in the Philippines have been added in bullet point form.
- Any Damages To The Interior Or Exterior Of The Property
- Any Keys Or Key Cards Needed
- Any Noise During Different Parts Of The Day And Night
- If You Can Or Cannot Upgrade Furniture
- Rules And Regulations Of The Condominium
- Security Facilities
- The Internet Strength And Connection For Your Area
- The Official Deposit That The Landlord Is Requesting
- The Rules Of The Contract
- Where The Electrical Boxes Are Located (If Applicable)
As you can see, there are many different areas to check when renting a condo in the Philippines as a foreigner. It is often recommended to visit the condo several times before officially moving in. This will give you a feel of what the condominium will be like for you when you move in officially.
Tips & Advice For Renting In The Philippines
So now we know how to rent a condo in the Philippines as a foreigner, and we have discussed how much is a condo to rent in Manila and a few other topics. Hence, the most critical question you may be asking is, are there any tips and advice for renting in the Philippines?
- Be in touch with several real estate agents at the same time. Renting a condominium is not personal; it’s business. You need to find the best condominium for you, and thus, you may need to talk to a few people before you find that perfect property.
- Always visit the condominium at different points of the day before moving in, as this will give you a feel of what the atmosphere is like and a glimpse into living at this condominium.
- Most condominium developers in the Philippines have rules and regulations sometimes; these regulations benefit the residents, such as high security, but they can sometimes be too strict and over the top, so bear this in mind when renting a condominium in the Philippines as a foreigner.
- If you need the Internet, it’s recommended to speak to several providers to check the local strength of the connection before purchasing, as some Internet providers are better than others, depending on the location.
- Negotiating. Negotiation is essential in the Philippines, especially when renting a condo in the Philippines as a foreigner. Remember, you are the one with the cash, and you are in control.
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