How to Earn from your Condo UnitApril 30, 2018
Prices of properties in the city are sky high. The scarcity of land is very evident because every piece of available land is being utilized for something useful. However, owning an address in the city is possible thru buying condominium units. A condominium is also a very good investment for those who have extra cash. But the question is, how will you get your money back in this kind of investment? How can this create income for you? Is it really possible to earn from owning a condo?The answer is Yes! It is possible to earn thru reselling or flipping, however, if you are not into it, the BEST answer is thru RENTAL. You get to own the unit and still earn. Let me enlighten you on the different ways on how you can make extra moolah from condo rental. I will also list down things you can consider before jumping on the condo rental bandwagon.The demand for city living is very high. With this up in the air, you may choose for a property rental to bring home the bacon. Now, you have to decide if you will have the whole place rented out or will you be sharing space with your renter? From here, you will be able to figure out your next step.Before anything else, you need to check your condominium certificate of title and condominium guidelines regarding rental (for the unit and for the parking). Is this allowed, are there certain rules that need to be followed, do you need to register this as a tenant and will your renter be allowed to use the amenities. All these should be checked to make sure you are not breaching any rules.Now that you have the clarification to rent out your unit, it is time to make your own rules and regulations that should be followed by your renters. Also, consider your neighbors when it comes to noise and cleanliness. If you will be needing legal assistance or need help from a broker leasing agent, seek one to make sure all is covered, clear and in black and white.As part of you getting ready, open a separate bank account that will hold all your earnings from your rental business. Make sure to keep track of this to ensure you are earning and not gaining additional expense. If you will be choosing the monthly, weekly or vacation rental, be able to also do the math. Compute for the monthly amortization, association dues, utilities, future renovation, cleaning expense and additional services such as breakfast or snack. This is done to identify your rental fee.Here comes the fun part. You need to fix up your place to attract the right clients. Be able to make a homey place to stay for travelers, a cozy weekend getaway for families and friends, a home away from home for yuppies and students, and a convenient place to go to and use the amenities in your condominium. Make sure there will be enough sleeping space, a nook to mingle and catch up with your tenants and a clean bathroom to freshen up after a day of going around and shopping.The next fun part is advertising your place. You may post on Social Media sites such as Fn’t want to find out your unit is being used for illegal purposes.Now you are ready to earn extra revenue from your condominium unit. Rental is indeed the key to making your condo a source of passive income.Let us help you. Make us your choice when you buy your condo. Register your interest with us today. Call or send us an SMS at +63 926 679 8277. Send us an email and we would be happy to assist you email@example.com. Visit our website to see all the projects we offer www.megaworldmnl.com.
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