Understand These Terms to Find the Condo Rental in Philippines

1. Understand These Terms to Find the Condo Rental in Philippines Finding a residential space in a foreign country often seems a challenge! Whether you are going with your family for the trip or going alone due to office work, you would need safe, trusted, and affordable shelter to live comfortably. In this post, we are going to discuss condo rental in Philippines and what to know before selecting a condo. Apartment or Rental Condos in the Philippines: When you book a condo rental in Philippines, what you are getting is basically an apartment. The condo or apartment refers to condo apartments units that

2. are usually available for rent while the condo refers to a group of condo apartments owned by one company. These units are rented out to people on a monthly basis and can be occupied for a short or long time period. The condo rental in the Philippines is more or less similar to an apartment complex as both are residential spaces meant for living. The condo rental differs from a hotel's one-room occupancy, which does not provide any privacy, unlike condo renting in the Philippines. Important Terms: Let's know these terms, so the search of condos become easier: Lease: This is the period of duration one rents a condo or condo apartment. It can be from a week to more than 30 years, depending upon the owner's agreement. The monthly condo rent also depends on this lease term. Landlord: The condo owner is called the landlord. The condo must be rented to a tenant who has signed a condo rental contract with the condo owner or his/her representative. Leasing agent: A condo agent is a person who help the condo owner in getting the condo rented out. The

3. leasing agency also manages the condo, collects rent and repairs, etc. Leasing agreement: This condo rental agreement is made between the condo owner and condo tenant. It includes information like description of the condo, amounts to be paid as rent, duration of the lease, amount of deposit to be paid by the condo lessee along with many other important points related to the condo rental in the Philippines. Conclusion: Whether you are buying or renting a condo in the Philippines the above terms would help you with a better understanding. When you visit a website to search for a condo or talk to a real estate agent to buy an apartment, you'll have to be familiar with the above terms to get interact with the real estate providers in the Philippines or any other country.