These days, not everyone who buys a condo unit intends to live in it. There are those who have seen the advantages of using these units as future investments. You can offer these residences for rent to workers, employees, students, vacationers, retirees, and even families. The best part is that you can choose to either offer your condo unit in Pasig City as a long-term lease or a daily rental. If you intend to cash in on this new profitable business, then you will have to consider the marketability of the properties you intend to purchase.
These are now a standard in most modern construction projects, and that includes residential high-rises. However, you will need to research on how sustainable and green your choices are. Are they using LED lights, energy-saving appliances, and water-efficient taps and shower heads? Do they integrate nature—trees, grass, plants, rocks, soil, and even sunlight—into their overall design? How adequate and efficient is their waste management system? What other green features do they offer? The more sustainable and energy-efficient a condo is, the easier it is to offer.
Let’s face it, the idea of having a gym, swimming pool, restaurants, lounge, park, and other nearby facilities mean accessibility and convenience for all residents. Of course, you’ll need to identify the specific demographic that you intend to offer your properties to. There are the young professionals, pensioners, businessmen, travelers, and small families. Upon making your choice, it would be easier to identify what amenities can make your units more appealing to your target market.
Any property’s location is always one of the main selling points for any prospective buyer or renter. The condo units that you intend to invest in should be in a convenient location for your said clientele. Most businessmen, executives, students, and small families would prefer residential addresses within the city center or, at the very least, near urban districts. You can choose to invest in condominium units within tourist spots if you intend to house backpackers and vacationers. Pensioners, on the other hand, prefer suburban properties.
Security and Safety
One of the most important factors for any renter is how safe and secure your property is. Most condo buildings now have their own safety features that are legally required before their units are put on the market. They also hire their own security staff to supervise the protection of the building and the residents. Other than these, check the other security add-ons that are available with your acquisition, such as heavy-duty locks, security cameras, and burglar alarms. Finally, check for emergency exits, fire extinguishers, and other available safety features.
There are those who have seen the advantages of using these units as future investments since there is a ready market for them. However, you should be very careful with your final choices if you want to maximize your earnings. Check the reputation of the builders involved in the construction and the real estate property in charge of the sale of your selected property. Study these factors carefully, and you won’t regret your decision.