FREQUENTLY ASKED QUESTIONS
1. I purchased a unit in one of the SMDC projects; can I have this leased out? Additionally, here is a quick definition of the different types of units (bare,
Yes. As an owner of the unit, you may lease these units out. You can do this semi furnished, fully furnished) as dictated by the market:
directly between you and the tenant, or through a leasing broker.
TERM DEFINITION
2. Can I hire SMDC as my leasing broker for my purchased unit? Bare In the same condition as accepted from SMDC
Yes. You may hire SMDC to be your leasing broker for your purchased
unit. SMDC Leasing & Tenancy Department will be able to assist you in Semi Furnished With Air Conditioning Unit, Bed/s, Refrigerator and Single
leasing out your unit after the unit is formally turned over to you. Point Wall Mounted Water Heater in the Bathroom)
3. What is the current leasing practice in terms of rate and broker’s
Fully Furnished With Air Conditioning Unit, Bed/s, Refrigerator and Single
commission?
Point Wall Mounted Water Heater in the Bathroom),
Living and Dining Room Set, Television Set, Microwave,
Here is a summary of the current leasing practice.
Single Induction Burner, Range Hood, Vanity Mirror in the
Bathroom
DESCRIPTION RESIDENTIAL PARKING Nice to have Monthly cable and internet subscription (inclusive of
rent) & washing machine
Condominium Dues Inclusive of monthly rental rate
Security Deposit 2 months 1 month
Here is the rate card of SMDC’s broker commission. Please note that the rates
Advance Rent
are VAT inclusive.
(applied on the 1st 1 month 1 month
month of the lease)
Security Deposit and Advance Rent to be RATE CARD
covered by a dated check or cash.
Payment Terms For the rent throughout the lease term, Term Amount
tenant to issue 11 post-dated checks for the Less than 6 Months Php 3,000.00
duration of the lease term.
6 months to 11 month lease 1/2 Month Rent
Other Covenants Tenants must adhere to the building’s house
rules 12 month lease 1 Month Rent
4. What are the requirements for me to place my unit with SMDC’s rental f. Once both potential tenant and unit owner verbally agree on the terms and
pool? conditions, the SMDC Leasing team member will then draft the lease contract
g. This lease contract is then sent to the unit owner for final approval prior to
Here are the enclosed requirements for your unit to be placed in SMDC’s sending to the potential tenant
rental pool: h. Once both unit owner and potential tenant agree on the lease contract, a
contract signing date is scheduled by the SMDC Leasing team member
a. One (1) valid government identification card, preferably with signature, i. At the contract signing date here is what occurs:
picture, and address
o Lease contract is signed by both parties
b. Signed Service Agreement (SA) o All payments are surrendered by the potential tenant to the unit owner
o Unit owner briefs the potential tenant on the residential building’s house
5. What is the process on any potential tenant? rules and regulations
o Any and all admin forms are completed
a. The SMDC Leasing Team will talk to the potential tenant and find out
their unit requirements, questions that are asked are: o Unit inspection & building tour
o Turn-over of keys (unit and mailbox)
• Contact Information (Full name, phone number, etc.)
• What is the reason for renting?
6. I am not in the Philippines, how can I transact?
• Unit preference o floor – mid, low, high o view – north, south, east, west o
You may appoint an attorney-in-fact to act on your behalf. This may be done
kind of unit - Bare, semi furnished, full furnished o type of unit - One
through a notarized Special Power of Attorney. A copy of which must be sent
bedroom, two bedroom, studio
to the SMDC Leasing Department.
• When do you plan to start your lease? When do you plan to end your lease?
• How many will stay in the unit? (____ # of adults? ___ # of children?) 7. Can SMDC, as the leasing broker collect the rent on behalf of the lessor
• Parking requirements and deposit it to the account of the lessor?
• What is your monthly budget (inclusive of dues)? It would still be strongly suggested that all payments be directly forwarded
• Client availability for viewing from the lessee to the lessor or from the lessee to the attorney-in-fact of the
lessor (please provide the SMDC Leasing Department a copy of the notarized
b. After the above are asked, the SMDC Leasing team member checks the Special Power of Attorney).
inventory to see how many unit/(s) fit the potential tenant’s requirement, to
create a short list 8. Does SMDC need to inspect the unit prior to placing it in the rental pool
c. The unit owners on this short list will be notified through SMS, with the and finding a potential tenant?
cellular phone number that is on file, on the details of the potential tenant If you opt to have your unit inspected, an inspection schedule can be arranged
d. A viewing schedule is confirmed that will be amenable to both potential between you and an SMDC Leasing Department team member. In lieu of an
tenant and owner. The unit viewing proper occurs inspection, you may also send pictures of your unit to
[email protected].
e. The SMDC Leasing team member negotiates to both potential tenant and
unit owner and finds a win-win scenario
FREQUENTLY ASKED QUESTIONS
