Finding a Rental

Well I got some additional information about rental through Real Estate Agencies. I was hesitant on going through a real estate agency until I knew more facts. In New York, Long Island to be more specific, charges the potential renter, not the property owner, a fee equivalent to 2 months rent. Ex. if you find a rental through a real estate agency for $1000, you have to have $2000 fee for real estate, 2 months security, and one month of advance. So you have to have $5000 to start to rent. I understand the security and advance but 2 month fee is a little steep.
Having said that, according to Island Properties in Cebu, the fee is paid by the owner who is renting. OHHHH what a relief.

In regards to buying, Island Properties said there is no Title company in Phillipines, quote “They have good lawyers”. Not to step on anyone’s toes, I never trusted any of the lawyers in my experience in buying and selling houses, I read and modified the contracts myself.

So here is a potential business, which is very lucrative in the States. I always took title insurance when buying a house in States. Best investment you will ever make, insures you against some ones screw up when researching the title and hidden leans against the house.

A title company would be a good business, may take a little while to catch on, but after a while you will have too much business. Than offer title insurance for the search that was done for the buyer. yes would require some capital initially for backing of the insurance, but if you do a good job in research, the risk is low.

By the way, the reason I picked Island Properties, is because they have extensive listings on the internet. Of course everything looks better in photos, but at least you get an idea of location and prices.

Charles you have a great looking house, if I was ready to buy, I would be very interested. You are so correct about the concrete made with sand with salt. It never really cures correctly, and will crumble. I know a guy on Long Island, New York who made a patio using beach sand in the concrete because he got cheap and cut corners. The patio after 2 years was a real mess.

I hope you are not leaving Cebu province, not after your site convinced me of moving to Cebu,.LOL
I read on FB you are looking to send your wife to be a doctor now, and was thinking about moving back to Texas for a while to make some hard cash to send your wife to school again.

I am going to be in Cebu approximately April 3rd to look around for areas to live. Unfortunately I need 3 bedrooms, my GF has two children, 8 and 13, boy and girl, so they are getting to old to share a room. No condominiums for me, it’s an apartment you can own, and i don’t want to live in a building with 500 other people. So I am looking for a townhouse or house to rent for starters before I buy. Well Charles, the best of luck to you and your family on further ventures to the medical field.

UPDATE: Foster arrived 4/8/2012 in Cebu and after stopping and checking in at the Raddison Blu in Cebu City he and his significant other took a taxi over to Tumulak Village where we live. Then we contacted one of the apartment owners in the compound and went to look at two apartments she has available. They decided on a nice roomy 3 bedroom 2 story townhouse for ₱ 8,000. This apartment is roomy and has a huge master bedroom another room about 1 and 1/2 larger than our bedrooms. They spent the day buying Bamboo furniture and fans. In the evening we all went over there to help put the fans, a table, chairs, TV and TV stand together. Foster is heading back home but once he sells his house and belongings he will be back to live in the apartment and I will have a new neighbor. Foster is an Electrical Engineer, had some electronics training in the military. Since I went through Keesler Radar Technician School we could talk about electronics speaking the same language is nice. I was ground precision radar and he worked on aircraft on board radar.  Foster and I are the same age.

Foster mentioned above that we were thinking of going back to the US and putting her through college there. This likely will not happen due to the present condition of the economy. And her green card is no longer valid as she has been out site the United states for more than one calender year. It takes about 8 months to get this re-instated, we basically have to go through the entire Spousal Visa process again including he medical exam and interview.

UPDATE 2: We still have at least 3 apartments available in Tumulak Village, the nice thing about living here is the area is secure, You won’t find beggers or peddlers in here security will not allow them in. In the new apartment complex we have 2 efficiency one room with a kitchen small apartments still available for Php 4,000 each. There is another large apartment 3 bedrooms master is quite large. living room is also large for Php 8,000.

Photos coming

One comment

  1. Hi–I am retiring to the Philippines after many trips there. I have an apartment in Dumaguete to use as a “base of operations”, but come to Cebu City/Lapu-Lapu frequently enough that it may make sense to have an apartment there also, rather than pay hotel fees, especially ikf the monthly rental fees are in the 4,000p to 8,000p range. My interest is in an efficiency or 1 bedroom, preferable furnished, if possible. I will be returning in March of 2013.
    Thank you in advance for your help in this matter.

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