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Barriers encountered by apartment rental business in manila

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Phamay Nocillado
Phamay Nocillado

This document discusses barriers encountered by apartment rental businesses in Manila. It provides background on the rental business and significance of studying its barriers. Key barriers include competition in the locale and necessity of the area. The document also reviews related foreign and local literature on topics like population impacts on rental rates, investing in rent-stabilized apartments, finding a new rental, and landlord/tenant rights and responsibilities. The scope is confined to Manila and focuses on identifying business problems and strategies for rental management.

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Barriers encountered by apartment rental business in ManilaPresented by:Donna dale RegidorLizel NipazAlpha May Nocilladosubmitted to:Dr. Teope
CHAPTER 1BACKGROUND STUDY SIGNIFICANCE OF THE STUDYSCOPE AND LIMITATIONSDEFINITIONS OF TERMS
BACKGROUND OF THE STUDY The rental apartment business itself continues to adapt and re-shape as different players enter the market and national boundaries become less significant. Rental business have long been a popular moneymaker. The objective of rental business is to help the consumers by renting instead of buying in times of financial hardship .Paying rent to the owner of the property may help it gain an high profit to become the business successful. Aside from creating an effective business plan owners should also make a marketing plan. This kind of business can generate more profit because more people seek the rental services instead of buying.
The key point in opening a rental house business is the competition and necessity of the locale. The foundations of the apartment rental business comes in two forms, one apartment building is refitted to become separate apartments for rent.Two, an apartment building is raised on anempty block of land. Renting an apartment or a house is one of the profitable business these departmentalize and house owners are looking for real state agents who can manage theirproperty for them.
SIGNIFICANCE OF THE STUDYThe study will help the firms profit and the consumers welfare and its benefit. The study can also be used as references to the owners and anyone interested in rental business. The study will enable the owners more effectively in rental business and to the consumers to know the possible reasons why renting is important instead of buying .The study was anticipated to contribute information to serve the following rental business owners and individuals. This will be an effective tool for the consumers who would intend to rent and to the owners particularly in rental business. The study will help the owners to know what are the problems and barriers that a rental business encountered . The study focuses on identifying the business problems and strategy can used a rental management .
Scope and LimitationsThe scope of the study was confined mainly in the Manila. The study focuses its attention on the barriers of the apartment rental business and its functions. The study aims to know what are the barriers that being encountered of an apartment rental business. Too study also the responsibilities of the owners and the renters right.
DEFINITIONS OF TERMSRENTAL BUSINESSit can be operated at home or in a commercial space.BARRIERS-the factor that serves a barocade .TENANT-it is the one who rent the property of the landlord.LANDLORD -the person who owns the property and the one managed the apartmentCONTRACT-the agreement that specify the terms of rentals.LEASE-this is the rental agreement for real state.
Chapter IIRelated review of literature studiesForeign studies Local studiesLocal literatureForeign literature
FOREIGN STUDIESFOREIGN STUDIES In a study published in the journal of marriage and the family ,John Model and Tamara assessed the nineteenth century heyday of lodging in both domestic and commercial establishments ,nothing that two categories ( from point of view of the lodger)essentially competed within a single market. Model found that the nineteenth century prevalence of rooming and boarding can be associated with rapid industrialization, urbanization, and population growth, coupled with increases in the number of manufacturing employees of young ,unmarried working man and women in the cities and of foreign born urban residents- although the authors stressed that lodging was far more characteristic of American and migrant cultures than of foreign cultures, who generally turned to lodging only as an expedient. Model proposed that in an industrializing rapidly urbanizing society, rooming and boarding was so widespread as to be reasonably considered indispensable.
Mark Peel, in an article published in the winter 1992 Journal of American history, focused on the lodging house in the Boston in the second half of the nineteenth century. Peel elaborated on the cultural distinctions between the often boarding house and the generally working or lower-class rooming house, which was less socially structured and less supervised by landlords and hosts. Peel included that the rooming house was not just a place where thousands of migrants and immigrants first met the American city, but a potentially radical housing alternative where some urban dwellers explored a very different social trajectory from those entered through the boarding house ,the tenement ,or the suburban home.Lisa Fine, in a study published in the Journal of Social History ,described five particular boarding houses in Chicago that catered to women .These boarding houses ,in the first three decades of the twentieth century, provided safe, respectable, home like, low cost housing, and a vast array of social services that allowed white-collar women to lead relatively independent lives.
Wilson and Few (2007) are strong supporters of population rates having an impact on rental rates within cities. Gall in (2008) noted that housing prices can be an indicator o rental rates since they are related in many aspects. Economist such as Gilder bloom and Appeal Baum even attributed changes in climate to rental rate fluctuation. The variables pertaining to rental rate fluctuations are vast ,but have rarely been evaluated on a national scale. This aims to enhance the understanding in the real estate rental market by furthering the studies performed by Marco(2008) so that the model used can be adapted to cities of different sizes within the United States. By using United States census bureau data from 2005 ,cities with populations over 100,000inhabitants will be analyzed in this study ,which gives a decent representation of the country as whole . The focus of this paper will be on average monthly apartment rental rates and how crime rates ,average apartment size, household income ,number of units within city, poverty rates ,population density, and real estate purchase value impact the fluctuations that occur in the real state rental market.
FOREIGN LITERATUREThis chapter presentation of literature and studies on renting an apartment which the researches reviewed to provide a clearer view of the problem researches on the relevant writings in the different country.According to COOK(2009)investing in rent stabilized apartments present good opportunity to invest cash flowing apartments buildings with upside potential.Several states enacted legislation over the past 50+years to stabilize rents in the multifamily investment space. These rent stabilized apartments typically rent for significantly less than market rates and required owners to follow a set of guidelines around raising rents and apartments maintenance.
Before investing in a rent stabilized or rent controlled building ,an investor should do specific research around how much rent can be charged and when and how units can be de-stabilized or de-controlled .Investors should consider when investing in rent stabilized apartment buildings.First ,consider the basic cash flow strategy. Simply holding the properties guarantees an investor a set amount of cash flow every month. Additionally, the set rent increase allow for an investor to benefit despite changes in the market rate rent.
According to WASHL(2009)finding and moving to new apartment can be stressful process. Fortunately ,some advance planning can help make rental housing choices easier. Renters searching for a new apartment should first decide on what they are looking for. When looking for an apartment it is important to remember that amenities like swimming pools, exercise rooms and dishwasher are luxuries that can drive up the prices of an apartment. Every renter wants to save much money possible on their rental accommodation.
According to WALLCE(2009)in her article the landlord rights and responsibilities. It is important to protect your rights and your duties when renting a property to a tenant. In order for both parties to succeed in a rental arrangement ,the agreement should be well thought out and understood by both parties. Most disputes in rental relationship arise when there is a misunderstanding regarding the rights and responsibilities of both the landlord and the tenant. A landlord has aright to a expect a tenant to keep the apartment clean and in good repair, and to leave it in the same condition in which they moved in. The landlord can also expect a tenant to notify him of any damage to the apartment. The landlord has the right to expect that the rent upon be paid in full and on time. The landlord has the right to name price, but cannot change the amount of rent during the term of the lease. The tenant has the right to expect that the procedures for paying rent be clear ,and that any changes in the policies be announced clearly and with enough notice to comply
LOCAL STUDIESAccording to Marine Ballesteros , Rental housing ,opening doors for low- income households . Owning a house has always been associated to affluence ,security and stability. Many people would delay buying but would really save in their lifetime just to have a place that they can call their own . Especially for a family , homeownership is very important resource given the economic ,psychological and social benefits it offers.
FOREIGN STUDIESAccording to Katrina Wallace(2009) in her article the landlords rights and responsibilities ,it is important to protect your rights and understanding your duties when renting a property to a tenant. In order for both parties to succeed in a rental arrangement ,the agreement should be well thought out and understood by both parties. Most disputes in rental relationships arise when there is a misunderstanding regarding the rights and responsibilities of both the landlord and tenants. A landlord has a right to expect a tenant to keep the apartment clean and in good repair ,and to leave it in the same condition in which they moved in. The landlord can also expect a tenant to notify him of any damage to the apartment ,to repair any minor damage ,and to keep the apartment in good repair . If tenant damages the apartment ,or leaves it dirty at the end of the lease ,the landlord has the right to deduct from the tenants security deposit the cost of cleaning and repairing the apartment to bring it up to its original condition.
STATEMENT OF THE PROBLEMThis study aimed determine what are the barriers and problems that are been encountered by the rental business and what are the things to be consider and preparations need before you own a rental property.
GENERAL PROBLEMThe researchers study the problems that been encountered by the rental business. This study anticipated to contribute additional information to the individuals and business taking rental business.
SPECIFIC PROBLEMSPECIFIC PROBLEMWhat is the demographic profile of the respondents in terms of the following variables. 1.0name 2.0gender 3.0status 4.0estimated monthly income 5.0background of the study

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Barriers encountered by apartment rental business in manila

  • 1. Barriers encountered by apartment rental business in ManilaPresented by:Donna dale RegidorLizel NipazAlpha May Nocilladosubmitted to:Dr. Teope
  • 2. CHAPTER 1BACKGROUND STUDY SIGNIFICANCE OF THE STUDYSCOPE AND LIMITATIONSDEFINITIONS OF TERMS
  • 3. BACKGROUND OF THE STUDY The rental apartment business itself continues to adapt and re-shape as different players enter the market and national boundaries become less significant. Rental business have long been a popular moneymaker. The objective of rental business is to help the consumers by renting instead of buying in times of financial hardship .Paying rent to the owner of the property may help it gain an high profit to become the business successful. Aside from creating an effective business plan owners should also make a marketing plan. This kind of business can generate more profit because more people seek the rental services instead of buying.
  • 4. The key point in opening a rental house business is the competition and necessity of the locale. The foundations of the apartment rental business comes in two forms, one apartment building is refitted to become separate apartments for rent.Two, an apartment building is raised on anempty block of land. Renting an apartment or a house is one of the profitable business these departmentalize and house owners are looking for real state agents who can manage theirproperty for them.
  • 5. SIGNIFICANCE OF THE STUDYThe study will help the firms profit and the consumers welfare and its benefit. The study can also be used as references to the owners and anyone interested in rental business. The study will enable the owners more effectively in rental business and to the consumers to know the possible reasons why renting is important instead of buying .The study was anticipated to contribute information to serve the following rental business owners and individuals. This will be an effective tool for the consumers who would intend to rent and to the owners particularly in rental business. The study will help the owners to know what are the problems and barriers that a rental business encountered . The study focuses on identifying the business problems and strategy can used a rental management .
  • 6. Scope and LimitationsThe scope of the study was confined mainly in the Manila. The study focuses its attention on the barriers of the apartment rental business and its functions. The study aims to know what are the barriers that being encountered of an apartment rental business. Too study also the responsibilities of the owners and the renters right.
  • 7. DEFINITIONS OF TERMSRENTAL BUSINESSit can be operated at home or in a commercial space.BARRIERS-the factor that serves a barocade .TENANT-it is the one who rent the property of the landlord.LANDLORD -the person who owns the property and the one managed the apartmentCONTRACT-the agreement that specify the terms of rentals.LEASE-this is the rental agreement for real state.
  • 8. Chapter IIRelated review of literature studiesForeign studies Local studiesLocal literatureForeign literature
  • 9. FOREIGN STUDIESFOREIGN STUDIES In a study published in the journal of marriage and the family ,John Model and Tamara assessed the nineteenth century heyday of lodging in both domestic and commercial establishments ,nothing that two categories ( from point of view of the lodger)essentially competed within a single market. Model found that the nineteenth century prevalence of rooming and boarding can be associated with rapid industrialization, urbanization, and population growth, coupled with increases in the number of manufacturing employees of young ,unmarried working man and women in the cities and of foreign born urban residents- although the authors stressed that lodging was far more characteristic of American and migrant cultures than of foreign cultures, who generally turned to lodging only as an expedient. Model proposed that in an industrializing rapidly urbanizing society, rooming and boarding was so widespread as to be reasonably considered indispensable.
  • 10. Mark Peel, in an article published in the winter 1992 Journal of American history, focused on the lodging house in the Boston in the second half of the nineteenth century. Peel elaborated on the cultural distinctions between the often boarding house and the generally working or lower-class rooming house, which was less socially structured and less supervised by landlords and hosts. Peel included that the rooming house was not just a place where thousands of migrants and immigrants first met the American city, but a potentially radical housing alternative where some urban dwellers explored a very different social trajectory from those entered through the boarding house ,the tenement ,or the suburban home.Lisa Fine, in a study published in the Journal of Social History ,described five particular boarding houses in Chicago that catered to women .These boarding houses ,in the first three decades of the twentieth century, provided safe, respectable, home like, low cost housing, and a vast array of social services that allowed white-collar women to lead relatively independent lives.
  • 11. Wilson and Few (2007) are strong supporters of population rates having an impact on rental rates within cities. Gall in (2008) noted that housing prices can be an indicator o rental rates since they are related in many aspects. Economist such as Gilder bloom and Appeal Baum even attributed changes in climate to rental rate fluctuation. The variables pertaining to rental rate fluctuations are vast ,but have rarely been evaluated on a national scale. This aims to enhance the understanding in the real estate rental market by furthering the studies performed by Marco(2008) so that the model used can be adapted to cities of different sizes within the United States. By using United States census bureau data from 2005 ,cities with populations over 100,000inhabitants will be analyzed in this study ,which gives a decent representation of the country as whole . The focus of this paper will be on average monthly apartment rental rates and how crime rates ,average apartment size, household income ,number of units within city, poverty rates ,population density, and real estate purchase value impact the fluctuations that occur in the real state rental market.
  • 12. FOREIGN LITERATUREThis chapter presentation of literature and studies on renting an apartment which the researches reviewed to provide a clearer view of the problem researches on the relevant writings in the different country.According to COOK(2009)investing in rent stabilized apartments present good opportunity to invest cash flowing apartments buildings with upside potential.Several states enacted legislation over the past 50+years to stabilize rents in the multifamily investment space. These rent stabilized apartments typically rent for significantly less than market rates and required owners to follow a set of guidelines around raising rents and apartments maintenance.
  • 13. Before investing in a rent stabilized or rent controlled building ,an investor should do specific research around how much rent can be charged and when and how units can be de-stabilized or de-controlled .Investors should consider when investing in rent stabilized apartment buildings.First ,consider the basic cash flow strategy. Simply holding the properties guarantees an investor a set amount of cash flow every month. Additionally, the set rent increase allow for an investor to benefit despite changes in the market rate rent.
  • 14. According to WASHL(2009)finding and moving to new apartment can be stressful process. Fortunately ,some advance planning can help make rental housing choices easier. Renters searching for a new apartment should first decide on what they are looking for. When looking for an apartment it is important to remember that amenities like swimming pools, exercise rooms and dishwasher are luxuries that can drive up the prices of an apartment. Every renter wants to save much money possible on their rental accommodation.
  • 15. According to WALLCE(2009)in her article the landlord rights and responsibilities. It is important to protect your rights and your duties when renting a property to a tenant. In order for both parties to succeed in a rental arrangement ,the agreement should be well thought out and understood by both parties. Most disputes in rental relationship arise when there is a misunderstanding regarding the rights and responsibilities of both the landlord and the tenant. A landlord has aright to a expect a tenant to keep the apartment clean and in good repair, and to leave it in the same condition in which they moved in. The landlord can also expect a tenant to notify him of any damage to the apartment. The landlord has the right to expect that the rent upon be paid in full and on time. The landlord has the right to name price, but cannot change the amount of rent during the term of the lease. The tenant has the right to expect that the procedures for paying rent be clear ,and that any changes in the policies be announced clearly and with enough notice to comply
  • 16. LOCAL STUDIESAccording to Marine Ballesteros , Rental housing ,opening doors for low- income households . Owning a house has always been associated to affluence ,security and stability. Many people would delay buying but would really save in their lifetime just to have a place that they can call their own . Especially for a family , homeownership is very important resource given the economic ,psychological and social benefits it offers.
  • 17. FOREIGN STUDIESAccording to Katrina Wallace(2009) in her article the landlords rights and responsibilities ,it is important to protect your rights and understanding your duties when renting a property to a tenant. In order for both parties to succeed in a rental arrangement ,the agreement should be well thought out and understood by both parties. Most disputes in rental relationships arise when there is a misunderstanding regarding the rights and responsibilities of both the landlord and tenants. A landlord has a right to expect a tenant to keep the apartment clean and in good repair ,and to leave it in the same condition in which they moved in. The landlord can also expect a tenant to notify him of any damage to the apartment ,to repair any minor damage ,and to keep the apartment in good repair . If tenant damages the apartment ,or leaves it dirty at the end of the lease ,the landlord has the right to deduct from the tenants security deposit the cost of cleaning and repairing the apartment to bring it up to its original condition.
  • 18. STATEMENT OF THE PROBLEMThis study aimed determine what are the barriers and problems that are been encountered by the rental business and what are the things to be consider and preparations need before you own a rental property.
  • 19. GENERAL PROBLEMThe researchers study the problems that been encountered by the rental business. This study anticipated to contribute additional information to the individuals and business taking rental business.
  • 20. SPECIFIC PROBLEMSPECIFIC PROBLEMWhat is the demographic profile of the respondents in terms of the following variables. 1.0name 2.0gender 3.0status 4.0estimated monthly income 5.0background of the study