LandmarkExpenses

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5/15/2014

[edit] notes

  • landmark is now being rented out at P33k/month. tenant pays for the p2.8k assoc dues. the tenant is a chinese family - 3 sisters and their 91 year old mother. 2 of the sisters teach english online. i profile them as very stable tenants. hardworking family. i also think they are financially very stable because they offered to buy landmark at p8.5m cash. it would have been a good idea to sell 2 years ago but now, there is no place to put the money so it's best not to sell at that price (unless someone offers signficantly above market value).
  • tenant contact number: betty 0917-820-3091
  • be aware that the p66k is a deposit so make sure there is p66k in the bank around may next year in case the tenant does not renew the contract. however they are sure they will renew they just made the contract 1 year to give them flexibility.
  • i learned the biggest selling point for renting out landmark is the distance from the parking slot to the door. this is very important especially to elderly tenants. make sure to stress this if ever you try to rent out landmark in the future.
  • manila is over saturated with condos - so many condos now sell for just 1 million in quezon city i looked at some of them they look decent. so many of them rent for just p8k. that is why when renting or selling landmark you need to stress that it is low rise, first floor, and just a few yards walk from parking to the front door.
  • the nissan sentra shipment hasn't been paid yet. it will arrive between today and monday. i will be the one to follow up and pick it up (0917-710-3346)
  • i will give the p53.3k, receipts, and postdated checks to papa

[edit] statement

  • 132k (2 months advance, 2 months deposit)
  • minus expenses:
    • 33k agent
    • 9k - assoc dues and water
    • notary 300
    • buknoy 1000
    • electric bill
    • 7k replace screens
    • replace rollers 1320
    • curtain rods, wax, sosa declogger, vulca seal (maid's roof) 1200
    • car registration 3k
    • plumber (maids sink declog, install 2 faucets) 1200
    • ace 2 faucets wac epoxy 680
    • 1 week electric to tenant 1000 (may 6 - 15)
    • buknoy 1500
    • ship nissan sentra - 18500
  • total: 53,300
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