Plenty of DMCI Homes buyers purchase with an end-user mindset and only later consider renting the unit out — a job change, a move abroad, or simply a shift in plans. Whatever the reason, turning your condo into a rental is a genuinely manageable process once you understand three things: how to price it correctly, how to screen tenants properly, and what paperwork actually protects you.
Pricing Your Unit Correctly
Current gross rental yields in Metro Manila vary meaningfully by district:
- Core CBDs (BGC, Makati): 4.5%–6.0% gross yield
- Secondary CBDs (Ortigas, Quezon City, Alabang): 5.5%–7.0% gross yield
These ranges exist for a reason — core CBD units command higher absolute rents but at a lower yield relative to their (also higher) purchase price, while secondary CBD locations often deliver better proportional returns even at lower absolute rent figures.
To price your specific unit:
- Check comparable listings in your building or nearby comparable properties — not just the asking price, but how quickly similar units are actually getting rented, which tells you if the asking price is realistic.
- Factor in your full cost stack — association dues, real property tax, insurance — so you understand your actual net yield, not just gross rent collected.
- Price slightly competitively rather than optimistically if you want to minimize vacancy time. An empty unit earning zero rent for two extra months often costs you more than a modest price reduction would have.
Screening Tenants Properly
Verify employment and income. A tenant's monthly rent should typically be comfortably within their income — ask for proof of employment or income documentation as standard practice, not an imposition.
Check references from a previous landlord if available. A quick call to a prior landlord can surface payment history and behavior patterns that application forms alone won't reveal.
Meet in person (or via video call) before finalizing. This isn't just about verification — it's a basic gut check on whether this is someone you want to have an ongoing landlord-tenant relationship with.
Require a security deposit and advance rent, typically one to two months of each, as standard practice — this protects you against damage and non-payment risk without being unreasonable to prospective tenants.
Getting the Paperwork Right
A proper lease agreement is non-negotiable. At minimum, it should specify the lease term, monthly rent and due date, security deposit terms and conditions for its return, house rules the tenant must follow, and conditions under which either party can terminate the lease.
Register the lease with your condo corporation. Most buildings require landlords to register tenant information with property management — skipping this can create access and security issues for your tenant later, and puts you out of compliance with your own condo's house rules.
Keep photographic documentation of the unit's condition before the tenant moves in, mirroring the inspection process you'd have done at your own turnover — this protects both parties if a dispute arises over the security deposit at lease end.
Listing Your Unit for Rent
If you'd rather not manage the search for tenants yourself, Kris's For Rent listing service is built specifically to help DMCI unit owners find qualified tenants faster — worth considering if you want the reach of an established network without doing the legwork solo.
Frequently Asked Questions
What is a good rental yield for a Metro Manila condo? Core CBD units (BGC, Makati) typically see gross yields of 4.5%–6.0%, while secondary CBDs like Ortigas, Quezon City, and Alabang often deliver 5.5%–7.0%.
How much security deposit should I ask for as a landlord? One to two months' rent as a security deposit, plus advance rent, is standard practice in most Metro Manila condominium rentals.
Do I need to register my tenant with the condo corporation? Yes — most buildings require landlords to register tenant information with property management for access and security purposes, and it's typically outlined in your condo's house rules.
Ready to list your unit? Explore Kris's For Rent service to reach qualified tenants faster.
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