Apartment for Rent in Paranaque for 5K
The Popular and Well-Developed City of Paranaque
Paranaque is a city rich in history, culture, and ecological endowment. It is bordered by the cities of Pasay, Taguig, Muntinlupa, Las Piñas, and the ever-important waterway, Manila Bay. Initially a port town, it was frequented by traders from China, Japan, Dutch Indonesia, and British India and Malaysia during the Spanish times. By the American period, the town became a suburb of Manila. In the 1970s, it shortly became a town of Rizal, but was later reinstated as part of the National Capital Region in the mid-1970s.
Now, Paranaque has a population of 665,000 within its 17 barangays. Still an important trading center, it rivals the neighboring Pasay City in attracting businesses, hotel and entertainment developers, and tourists. As a shopping destination, the city has three SM malls: SM City Sucat, SM City Bicutan, and SM City BF Parañaque. As a tourist spot, it hosts Asiaworld City, Elorde Sports Center, Speedworld Motorcross Park, and many old Spanish churches. The Tambo Mangroves Avian Reserve, the only nationally protected landscape in the Metro, is found along the coast of the city. As a known entertainment hub, it has several world-class hotel and gambling locations like the City of Dreams Manila, Solaire Resort & Casino, Okada Manila, and Entertainment City. The city, like Pasay, also enjoys a massive infrastructure system that includes the Ninoy Aquino International Airport, LRT-1, the Philippine National Railway, the South Luzon Expressway, the Manila-Cavite Expressway, and the Metro Manila Skyway.
Paranaque has a very diverse economy, making it a viable place to set up businesses and/or reside in. Its strategic location only magnifies its rich history and evolution as a city of trade, entertainment, and tourism. For those looking to move to a city that is very comprehensive, Paranaque does not disappoint. One can set out etching a life in this vibrant city by renting one of its numerous apartments.
Understanding the Legal Components of Renting
To rent an apartment in Paranaque, future residents should take a look at specific laws that will guide them to a trouble-less apartment hunt. There are two important laws that cover rental policies in the Philippines: Republic Act No. 9161 or Rental Reform Act of 2002, and Republic Act No. 9653 or Rent Control Act of 2009.
Rules on rental fees are both covered by the laws, but in RA 9161 the standard is already set. There, it is provided that the rental fee “shall be paid in advance within the first five (5) days of every current month or the beginning of the lease agreement unless the contract of lease provides for a later date of payment.” There should be no more than one-month advance rental and two-month deposit to be required when paying for the initial rent. The lessee is not allowed to assign a lease or to sublease the whole or any portion of the unit being rented. Renting out to boarders or bedspacers without the lessor's written consent is one of them. Under RA 9653, it is required that the rent and deposit coverage should rule on concerns like failure to pay rent and other fees. It provides that “any and all interest that shall accrue therein shall be returned to the lessee at the expiration of the lease contract.” Further, if the lessee could not pay the rent, could not pay the utility bills, such a water and electricity, or damages parts of the units and its accessories, the deposits and interests will be “forfeited in favor of the latter in the amount commensurate to the pecuniary damage done by the former.”
For annual increases in rent, RA 9653, suggests that, after December 31, 2013, the increase should be not more than 7% of the rent, provided that the unit is still being occupied by the same lessee. The moment the residential unit becomes vacant, the lessor can set the initial rent for the next lessee.
A Cheap Apartment for Rent in Paranaque: 5K Is Affordable
Paranaque is just as fast in the development of its real estate industry just like other major cities are. It similarly offers a wide range of choices when it comes to renting an apartment, including some that are available for merely PHP 5,000 per month. These tend to be one-bedroom units, a bedspace room, or studio type units.
One example is a one-bedroom apartment in Sucat, which is available for PHP 5,500 a month. At 35 square meters in size, it can be good for up to six people. It is fully furnished and features a tiled ground floor, a toilet and bath, a kitchen, a dining area, a living room, a laundry area, and a garage. The property is also double-gated. Air conditioning is available for an additional fee of PHP 500. The apartment is near WalterMart and SM City Sucat. The lease contract only requires a one-month deposit.
Another flat with similar features is located in Sun Valley. Also for PHP 5,500 per month, the one-bedroom comes with a bathroom, a toilet, and a kitchen sink. It is near SM City Bicutan and is easily accessible via 24-hour public transportation. The contract runs for the space for one year with a required two-month deposit and a one-month advance.
Studio type units for rent in Paranaque are very typical in the market. One that can be rented at PHP 5,500 per month includes an attached toilet and bath and a kitchen. The unit is newly painted, has an available pressure-powered water tank, and an electric sub-meter. Its lease only requires a one-month deposit. An even more affordable studio type unit at PHP 5,000 per month can be found in Barangay San Isidro. Amenities included with the space are an alarm system and 24-hour security. The 15-storey building it is located in is close to Liana’s, Mercury Drugstore, WalterMart, and SM City Sucat. Its lease requires a three-month deposit inclusive of an advance.
Bedspace-type rooms for rent (i.e. flat sharing) are also becoming more common in the city. In Barangay Don Bosco, one bedspace room can be rented for PHP 5,000 per month per person. Units available are two-bedroom types with two toilet and baths. Spacious and furnished, rooms include fast internet connection and free use of the building’s amenities (swimming pool, gym, basketball court, and barbecue area). Payment terms include a one-month advance and a one-month deposit.
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