For property buyers who cannot get a Condominium financing plan due to lack of requirements, prior loans, or bad credit scores, a rent to own or lease to purchase arrangement is an ideal solution. Getting a rent to own Condominium is an ideal alternative if you are not financially ready to take on the burden of purchasing a Condominium but want to begin investing.
A rent-to-own agreement requires a tenant to pay a monthly rent that is quite higher than the property's market value. Owners offer fixed rates, with a portion of the monthly payment for rent and the remainder for the house down payment. The renter can also buy the house during the rental term or pay the down payment and then apply for house financing for the remaining sum.
If you are planning to move to a new location to look for more career and business opportunities, Manila in Metro Manila might be an ideal location for you. As Manila becomes more urbanized, the demand for real estate properties such as a Condominium continues to grow, increasing their market value. If you desire to invest in a property as early as now but do not have huge savings for an outright payment, a rent to own Condominium in Manila, Metro Manila is perfect for you.
Aside from the 43007 rent to own Condominium in Manila listings in Lamudi, you can also find various rent to own Condominium in other areas in Metro Manila.
Manila in Metro Manila houses various urban developments and business districts, making it a convenient place to get a rent to own Condominium. Commercial establishments and recreational facilities such as malls are also in Manila, allowing residents to relax and have easy access to their necessities.
Within mixed-use developments and business districts in Manila are several corporate buildings for different industries, making it easier for residents to find a job in their respective fields.
Also in Manila are hospitals and public and private schools, suitable for families with children and elderly members. You can also find a rent to own Condominium near public transportation terminals and major thoroughfares in Manila, allowing residents to easily reach their destinations around and beyond Metro Manila.
If you're looking for a rent to own Condominium in Manila, take note that the average price is ₱ 33,053 . Due to the higher market value of such properties, a rent to own Condominium with recreational amenities can be more expensive. Furthermore, rent to own Condominium in upscale developments such as exclusive subdivisions are expected to cost more as compared to a normal rent to own Condominium in the area.
If you're buying a rent to own Condominium in Manila, you'll need a one-month deposit and one-month advance before moving in and renting the property. Payment terms for the said property are almost similar to a standard rent, except for the rates. The rental rate for a rent to own Condominium in Manila is slightly higher because it includes the property's downpayment if the tenant decides to purchase the property.
In addition, a rent to own Condominium is eligible for home loans such as a bank loan and a Pag-IBIG loan. You can apply for a house loan while you are still in the renting period.