Rent.ph partners with Land Traders-A A +A
Thursday, September 5, 2013
IN AN effort to offer its investors better property management service, real estate developer Land Traders World Inc. signed a partnership with homegrown online portal Rent.ph last Tuesday.
Land Traders World Inc. president and chief executive officer Michelle Yu said the partnership will help unit owners, most of them investors, better market their spaces and have them rented out.
Yu said most of the unit owners in one of Land Traders World’s properties, the San Marino Residences at the North Reclamation Area, are overseas Filipino workers who want to invest on condominiums and have them rented out.
Yu said 65 percent of the total number of rooms in San Marino Residences has been sold out mostly to OFWs, said Yu.
San Marino Residences is a 20-story condominium with 420 rooms, each having a floor area of 22 square meters worth P1.4 million.
Yu said construction of San Marino Residences is expected to finish in October next year.
Land Traders World Properties Corp is also the developer of Corinthians, Royal Gardens and Soligrande. Yu said unit owners in these properties will also have access to the services of Rent.ph.
According to Rent.ph managing partner Chris Malazarte, there is an inventory shortage of rental residential spaces in Cebu. He said Rent.ph partnered with developers to increase its inventory.
With business activities and opportunities thriving in Cebu, Malazarte said many of those living in the provinces opt to stay in the area.
“They do not know where to find a place fit to their needs and location, and so Rent.ph provides them an avenue where they can see a list of rentable spaces,” Malazarte said.
Rent.ph president and chief executive officer Anthony Leuterio said most condominium investors who own a unit in the Philippines are out of the country and have no time to attend to their properties and market them for rental.
According to Leuterio, investors comprise 70 percent of the property buyers.
He said these investors depend on caretakers or family members to manage the units but are not professionally equipped to handle rentals and other related concerns.
With Rent.ph, Leuterio said investors will have their own rent managers who will market and manage their rental concerns.
Rent.ph was established in 2012 and has already partnered with seven developers. It has a listing of 2,000 rentable spaces. In 2017, it is expected to list 18,000 units.
Published in the Sun.Star Cebu newspaper on September 06, 2013.