Condominium Act of the Philippines (from section 8)

Condominium Act of the Philippines (from section 8)


SECTION 8. Where several persons own condominium in a condominium project, an action may be brought by one or more such person for partition thereof, by sale of the entire project, as if the owners of all the condominium in such project were co-owners of the entire project in the same proportion as their interests in the common areas; Provided, however, that a partition shall be made only upon a showing:

a) That three years after damage or destruction to the project which renders a material part thereof unfit for its use prior thereto, the project had not been rebuilt or repaired substantially to its state prior to its damage or destruction; or

b) That damage or destruction to the project has rendered one half or more of the units therein untenantable and that condominium owners holding in aggregate more than 30 percent interest in the common areas are opposed to the repair or restoration of the projects; or

c) That project has been in existence in excess of 50 years, that it is obsolete and uneconomical, and that condominium owners holding in aggregate more than 50 percent interest in the common areas are opposed to repair or restoration or remodeling or modernizing of the project; or

d) That the project or a material part thereof has been condemned or expropriated and that the project is no longer viable, or that the condominium owners holding in aggregate more than 70 percent interest in the common areas are opposed to the continuation of the condominium regime after expropriation or condemnation of a material proportion thereof; or

e) That the condition for such partition by sale set forth in the declaration of restrictions duly registered in accordance with the terms of this Act, have been met.

SECTION 9. The owner of a project shall, prior to the conveyance of any condominium therein, register a declaration or restrictions, relating to such project, which restrictions shall ensure to a bind all condominium owners in the project , such liens, unless otherwise, provided, may be enforced by any condominium owner in the project or by the management body of such project. The Register of Deeds shall enter and annotate the declaration of restrictions, upon the Certificate of Title covering the land included within the proper, if the land is patented or registered under the Land Registration or Cadastral Acts.

Such declaration of restrictions, among the other things, may also provide:

a) As to management body

For the power thereof, including power to enforce the provisions of the declarations of restrictions;
For the maintenance of insurance policies insuring condominium owners against loss by the, casualty, liability, workmen’s compensation and other insurable risks and for bonding of the members of any management body;
Provisions for maintenance, utility, gardening and other services benefiting the common areas for the operations of the building, and legal, accounting and other professional and technical services;
For purchase of materials, supplies and the like needed by the common areas;
For payment of taxes and special assessment which would be a lien upon the entire project or common areas, for discharge of my encumbrance levied against the entire project of the common areas;
The manner for delegation of its powers;
For reconstruction of any portion or portions of any damage to or destruction of the project;
For entry by its officers and agents into any unit when necessary in connection with the maintenance or construction for which such body is responsible;
For a power of attorney to the management body to sell the entire project for the benefit of all of the owners thereof when partition of the project may be authorized under Section 8 of this Act, which said power shall be binding upon all of the condominium owners regardless or whether they assume the obligations of the restrictions or not
b) The manner and procedure for amending such restrictions, provided, that the vote of not less than a majority in interest of the owners is obtained;

c) For independent audit of the accounts of the management body;

d) For reasonable assessments to meet authorized expenditures, each condominium unit to be assessed separately for its share of such expenses in proportion (unless otherwise provided) to its owner’s fractional interest in any common areas;

e) For the subordination of the liens securing such assessments to other lien either generally or specifically described;

f) For conditions, other than those provided for in Section 8 and 13 of this Act, upon which partition of the project and dissolution of the condominium corporation may be made. Such right to partition or dissolution may be conditioned upon failure of the condominium owners to rebuild within a certain period or upon specified percentage of damage to the building, or upon a decision of an arbitration, or upon any other reasonable condition.

SECTION 10. Whenever the common areas in a condominium project are held by a condominium corporation, such corporation shall constitute the management body of the project. The corporate purposes of such a corporation shall be limited to the holding of the common areas; either the ownership of any other interest in real property recognized by the law, to the management of the project, and to such other purposes as maybe necessary, incidental or convenient to the accomplishment of said purposes. The articles of incorporation or by laws of the corporation shall not contain any provision contrary to or inconsistent with the provision of this Act, the enabling or master deed, or the declaration of restrictions of the project, membership in a condominium corporation regarding of whether it is stock or non-stock corporation, shall not be transferable separately from the condominium unit of which it is an appurtenance. When a member or a stockholder ceases to own a unit in the project in which the condominium corporation owns or holds the common area, he shall automatically cease to be a member or stockholder of the condominium corporation.

SECTION 11. The registration and regulation of a condominium corporation shall be vested with the Housing And Land Use Regulatory Board (HLURB) and the term of the said corporation shall be coterminous with the duration of the subdivision projects, the provision of the corporation law to the contrary notwithstanding.

SECTION 12. The dissolution of the condominium corporation in any manner and any of the causes provided by law shall be governed by the provisions of the Title XIV of the Corporation Code.

SECTION 13. Until the enabling or the master deed of the project in which the condominium corporation owns or holds the common areas is revoked the corporation shall not be voluntarily dissolved through an action for dissolution under Rule 104 of the Rules of Court except upon a showing:

a) The three years after damage or destruction to the project in which damage or destruction renders a materials part thereof unfit for its use prior thereto, the project has not been rebuilt or repaired substantially to its state prior to its damage or destruction; or

b) The damage or destruction to the project has rendered one half or more of the units therein untenantable and that more than 30 percent of the member of the corporation entitled to vote, if a stock corporation, are opposed to the repair or reconstruction of the project; or

c) That the project has been in existence excess of 50 years, that it is obsolete and uneconomical and that more than 50 percent of the members of the corporation if non-stock or stockholders representing more than 50 percent of the capital stock entitled to vote, if a stock corporation, are opposed to the repair or restoration or remodeling or modernizing of the project; or

d) That project or material part thereof has been condemned or expropriated and that the project is no longer viable or that the members holding in aggregate more than 70 percent interest in the corporation if non-stock, or the stockholders representing more than 70 percent of the capital stock entitled to vote, if a stock corporation, are opposed to the continuation of the condominium regime after expropriation or condemnation of a material portion thereof; or

e) That the conditions for such a dissolution set forth in the declaration of restrictions of the project in which the corporation, are opposed to the continuation of the condominium regime after expropriation or condemnation of a material portion thereof; or

SECTION 14. The condominium corporation may also be dissolved by the affirmative vote of all the stockholders or members thereof at a general or special meeting duly called for such purpose: Provided, that all the requirements of Section 62 of the Corporation Law are complied with.

SECTION 15. Unless otherwise provided for in the declaration of restrictions, upon voluntary dissolution of a condominium corporation in accordance with the provisions of Section 13 and 14 of this Act, the corporation shall be deemed to hold a power of attorney from all the members or stockholders to sell and dispose of their separate interests in the project and liquidation of the corporations shall be affected by a sale of the entire project as if the corporation owned the whole thereof, subject to the rights of the corporation and of individual condominium creditors.

SECTION 16. A condominium corporation shall not, during its existence, sell, exchange, lease or otherwise dispose of the common areas owned or held by it in the condominium project unless authorized by the affirmative vote of a simple majority of the registered owners: provided, that prior notification to all registered owners are done and provided further, that the condominium corporation may expand or integrate the project with another upon the affirmative vote of a simple majority of the registered owners, subject only to the final approval of the HLURB.

SECTION 17. Any provisions of the Corporations Law to the contrary not withstanding, the by-laws of a condominium corporation shall provide. That a stockholder or member shall not be entitled to demand payment of his shares or interest in those cases where such right is granted under the Corporation Law unless the consents to sell his separate interest in the project to the corporation or to any purchaser of the corporation’s choice who shall also buy from the corporation the dissenting member or stockholder’s interest. In case of disagreement as to price, the procedure set forth in the appropriate provisions of the Corporation Law for valuation of shares shall be allowed. The corporation shall have two years within which to pay for the shares or furnish a purchaser of its choice from the time of award. All expenses incurred in the liquidation of interest of the dissenting member or stockholder shall be borne by him.

SECTION 18. Upon registration of an instrument conveying a condominium, the Register of Deed shall, upon payment of the proper fees, enter and annotate the conveyance on the certificate of title covering the land included within the project and the transferee shall be entitled to the issuance of a “condominium owners” copy of the pertinent portion of such certificate of title. Said “Condominium Owner’s” copy need not reproduce the ownership status of other condominium in the project. A copy of the description of land, a brief description of condominium conveyed, name and personal circumstances of the condominium owner would be sufficient for purposes of the “condominium owners” copy of the certificate of title. No conveyance of condominium or part thereof, subsequent to the original conveyance thereof from the owner of the project, shall be registered unless accompanied by a certificate of the management body of the project that such conveyance is in accordance with the provisions of the declaration of restrictions of such project.

In case of condominium project registered under the provisions of the Spanish Mortgage Law or Act 3344 as amended, the registration of the deed of conveyance of a condominium shall be sufficient if the Register of Deed shall keep the original or signed copy thereof, together with the certificate of the management body of the project, and return a copy of the deed of conveyance to the condominium owner duly acknowledged and stamped by the Register of Deeds in the same manner as in the case of registration of conveyance is in accordance with the provisions of the declaration of restrictions of such project.

SECTION 19. Where the enabling or master deed provides that the land included within a condominium project are to be owned in common by the condominium owners therein the Register of Deeds may at the request of all the condominium owner and upon surrender of all their condominium owner’s copies, cancel the certificate of title of the property and issue a new one in the name of said condominium owners as pro-indiviso co-owners thereof.

SECTION 20. The assessment upon any condominium made in accordance with a duly registered declaration of restrictions shall be an obligation of the owner thereof at the time the assessment is made. The amount of any such assessment plus any other charges thereon, such as interest, costs (including attorney’s fee) and penalties, as such may be provided for in the declaration of restrictions, shall be and become a lien upon the condominium to be registered with the Register of Deed of the City or province where such condominium project is located. The notice shall state the amount of such assessment and such other charges thereon as may be authorized by the declaration of restrictions, a description of condominium unit against which same has been assessed, and the name of the registered owner thereof. Such notice shall be signed by an authorized representative of the management body or as otherwise provided in the declaration of restrictions. Upon payment of said assessment and charges of other satisfaction thereof, the management body shall cause to be registered a released of the lien.

Such lien shall be superior to all other liens registered subsequent to the registration of said notice of assessment except real property tax liens and except that the declaration of restrictions may provide for the subordination thereof to any other liens and encumbrances, such liens may be enforced in the same manner provided for by law for the judicial or extra-judicial foreclosure of mortgage or real property. Unless otherwise provided for in the declaration of the restrictions, the management body shall have power to bid at foreclosure sale. The condominium owner shall have the right of redemption as in cases of judicial or extra-judicial foreclosure of mortgages.

SECTION 21. No labor performed or services or materials furnished without the consent of or at the required of a condominium owner or his agent or his contractor or sub-contractor, shall be the basis of a lien against the condominium of any other condominium owner, unless such other owner have expressly consented to or requested the performance of such labor or furnishing of such materials or services. Such express consent shall be deemed to have given by the owner of any condominium in the case of emergency repairs of his condominium unit. Labor performed or services or materials furnished for the common areas, if duly authorized by the management body provided for in a declaration of restriction governing the property, shall be deemed to be approved by the condominium owner. The owner of any condominium may remove his condominium from a lien against two of the lien of the fraction of the total sum secured by such lien which is attributable to his condominium unit.

SECTION 22. Unless otherwise provided for by the declaration of restrictions, the management body, provided for herein, may acquire and hold, for the benefit of the condominium owners, tangible personal property and may dispose of the same by sale or otherwise, and the beneficial interest in such personal property shall be owned by the condominium owners in the same proportion as their respective interests in the common areas. A transfer of a condominium shall transfer to the transferee ownership of the transferor’s beneficial interest in such personal property.

SECTION 23. Where, in an action for partition of a condominium corporation on the ground that the project or a material part thereof has been condemned or expropriated, the court finds that the condition provided in this Act or in the declaration have not been met, the court may decree a reorganization of the project declaring which portion or portions of the project shall continue as a condominium project, the owners thereof, and the respective rights of the remaining owners and the just compensation, if any, that a condominium owner may be entitled to due to deprivation of his property. Upon receipt of a copy of the decree, the Register of Deeds shall enter and annotate the same on the pertinent certificate of title.

SECTION 24. Any deed declaration or plan for a condominium project shall be liberally construed to facilitate the operation of the project, and its provisions shall be presumed to be independent and several.

SECTION 25. The building and design standards for condominium projects to be promulgated by HLURB shall provide for, among others, accessibility features for disabled persons pursuant to Batas Pambansa Bilang 344 of 1994.

SECTION 26. Whenever real property has been divided into condominiums, each condominium separately owned shall be separately assessed, for purposes of real property taxation and other tax purposes, to the owners thereof and tax on each such condominium shall constitute a lien solely thereon.

SECTION 27. All acts or parts of Acts in conflict on inconsistent with this Act are hereby amended insofar as condominium and its incidents are concerned.

SECTION 28. This act shall take effect upon its approval.

Approved, June 18, 1966.

Trees Residences at Fairview, Quezon City

Trees Residences at Fairview, Quezon City

Trees Residences with exact location at Brgy. Pasong Putik, Novaliches, Quezon City. It is centrally located in Novaliches, Quezon City, one of the most popular residential communities in Metro Manila. SM City Fairview and La Mesa EcoPark are just a few minutes away while Savemore is right outside your door. It is also readily accessible to ;Quezon City Memorial Circle, major thoroughfares and transportation hubs. It is also nearby proposed MRT 7, which will connect SM North to San Jose Del Monte, Bulacan via Quirino highway. It is the perfect address for those who want everything within easy reach, while maintaining security and privacy in the urban jungle.

Notable Establishments within the Area are:


  • New Era University
  • Ateneo de Manila University
  • Miriam College
  • University of the Philippines
  • Abraham Dumlao Colleges of the Philippines
  • Alejandro Colleges
  • AMA Computer College-Fairview
  • Asia School of Arts and Sciences- The College of Information Technology
  • Bestlink Institute of Information Technology
  • Colegio de Sta. Teresa de Avila Foundation
  • Diliman Computer Technology Institute
  • Dr. Carlos S. Lanting College
  • FEU-Dr. Nicanor Reyes Medical Foundation
  • FEU-FERN College
  • International Graduate School of Leadership
  • Mary the Queen College of Science and Technology
  • Metro Manila College
  • Mother of Life Center
  • National College of Business and Arts-Fairview
  • National Polytechnic College of Science and Technology
  • NOVAGEN College of Quezon City
  • Our Lady of Fatima University (Fatima Medical Science Foundation) -Quezon City
  • Our Lady of Lourdes Technological College
  • Our Lady of the Angels Seminary
  • Saint Bernadette College of Health and Sciences
  • St. Francis Divine College
  • St. John of Beverly School
  • STI College-Fairview
  • STI College-Novaliches
  • Polytechnic University of the Philippines-Commonwealth

Who is Mr. Boss?

Who is Mr. Boss?

Mr. Boss is a fictional character created by Anthony Alde that aims to give buyers of Trees Residences an overview of their life at this sub-urban haven.

Mr. Boss is an entrepreneur supplying cellphone accessories and consumables in the northern part of Metro Manila. Together with her lovely housewife, Mrs. Boss and their very cute and chubby 3 year old son, Boss Jr. is renting a townhouse at Quezon City.

Mr. Boss is satisfied in their home, it is big and has its own parking area however Mrs. Boss, as a plain housewife is getting tired of the usual things she is doing in their home. Everyday she is washing the dishes, cleaning the house, doing the laundry, preparing foods and taking care of their "unico hijo" and going to the mall every weekend for the grocery. Although they are financially stable, Mrs. Boss feels emptiness in her heart.

One weekend, the family went out to SM City Fairview to do groceries, watch movies together and celebrate for the continuous success and expansion of their business.

While walking inside the mall, Mrs. Boss was given a flier of Trees Residences by Anthony. Mrs. Boss then asked "What's this?". Anthony joyfully answered "This is Trees Residences, the newest condominium project of SMDC near SM City Fairview". Anthony then invited Mrs. Boss to see their model unit which is located inside the mall. Through curiosity, Mrs. Boss convinced her husband to come and check the model unit so that they can have a bigger picture about the Trees Residences.

Mr. and Mrs. Boss bought a 2 bedroom unit at Trees Residences and an indoor parking area. In God's grace they were able to make the right decision. Although smaller to a townhouse, they were very happy on their new and own home. 

Mrs. Boss doesn't have hard time cleaning the unit. She also have enough time buying groceries since Savemore Market is just a walk by from their unit. The couple also strengthen their relationship and became more healthy by jogging and doing exercise at the fitness gym together early in the morning. Mrs. Boss also joins the Zumba classes that is being held at the function room twice a week. Because of this, Mrs. Boss were able to make new friends within the community, together they exchange ideas in trying new recipes, exchanging ideas about the current issue, exchanging insights about the latest movies and telenovelas, listening to once problems she encountered everyday. They also watched movies and try new restaurants during their free time at the walking distance SM City Fairview, Nova Market and Fairview Terraces malls. She was also invited to join to a Catholic Community in a nearby Church where she is now actively participating in the organization and parish activities. Mrs. Boss is very fulfilled and very happy. She became more social and more lively with his new found life inside the community village. She feels very relax, and most of her friends keep noticing the inner glow within her. Suddenly, her family and friends became very very happy when she told them that she is already 1 month pregnant to their new child. They have given another wonderful gift by God.

Meanwhile Boss Jr. is now studying in a nearby pre-school. He also loves to play at the children's playground and swim at the kiddie pool inside the secured and community during free time. Because of this, he also gained many friends and almost once a month, he is always invited to his friends' children's birthday party that is being held at the function rooms of Trees Residences. He is now very excited to see, play and take care of his future younger sibling.

On the other hand, Mr. Boss became a more healthy person, and now finds more time with his family. He helps Mrs. Boss in the household chores during weekends and even cook for them his self renowned recipe "Pork Steak". The blessing continuous to pour for the family. Even if he lessen the hours of his work, their income continue to rise. One of the major reason is that he was able to gather new buyers, networks and partners within the community village. 

As a form of thanksgiving, he and Mrs. Boss initiated to help the elderly in the Golden Acres in Quezon City. Together with their friends and partners, they save ample amount of their monthly income and use this to buy clothes, foods and medicines for the elderly in this institution.

Until now, the harmony and goodwill continue to flourish within the community. 

The family found a bigger family within the community.

Did you love this story? If you find this interesting, give me a call @ 0998-5444824. Maybe this story is really intended for you. Maybe, Trees Residences is really the right home for you.

Choose the Right Property for You!

Invest in an SMDC Condominium now!

I had met a lady last night at SM City North EDSA who is attending in the 100th Anniversary Celebration of the Iglesia ni Cristo that will be held in the Philippine Arena in Bocaue, Bulacan. In our conversation she told me that she is from Laguna and she is currently renting a Studio Unit (20sqm) at Grass Residences which is located just at the back of SM City North EDSA. She is paying P 1,600 per day for this fully furnished unit. I've asked her why she opted to stay in an SMDC Condominium rather in a well known hotel nearby, she told me she loved the location of the SMDC Condominium plus it's 5 Star hotel like amenities.

I've also met a man yesterday who is working abroad, he told me that he has already bought 2 house and lots which is over a hundred square meters in area, somewhere in Bulacan. I've asked him what is he doing in his current property and what is his plans? He told me that there is no return of investment yet. He is having problem finding people who will rent or will going to buy his 5 year old property.

The property industry in the Philippines is in a very good position right now. However, people who will buy property should be aware how to use properly the property that they are going to buy.

If you are buying a property that you will use as your home be sure that you have convenient time travelling from your home to your workplace. Don't just buy property because their price is low. As the saying goes, choose quality rather than quantity. Also, take consideration the modes of transportation that is available from your prospect place and through your workplace. If you failed to consider this, your property might end up hanging out there.

Buying a property that is already developed has a costly price. While buying a property in a non developed area is very affordable. So how can we balance this? Try to look or invest in an area that has high potential for development. It would be easy for the buyer to know this if he is actually living or residing within that area. For sure he knows the history and the important establishments within that area. However, if you are not familiar in the place, try to do research about that area, it's history, the developer who is behind it, the future developments around it and it's time frame.

Buying an SMDC Condominiums gives you an edge since it is located at a well developed area that is priced competitively and has a very flexible payment terms.

SMDC right now offers a "Early Occupancy Program" similar to rent to own program. In this program you just need to pay atleast 5% of the total price of the condo unit before you can move in.

For young professionals who are working in the metro, why not choose a studio unit at an SMDC Condominium that is very near in your workplace. This will give you ample time to rest and enjoy the amenities and cut transportation costs.

For people who want to make money working for them, Try investing in SMDC Condominiums. SMDC Condominiums are located strategically near to key establishments within Metro Manila. Gatherings and International events such as the 100 years of Iglesia ni Cristo Anniversary and the FIBA Asia 2013 had benefited a boom in the renting business at the Grass Residences (SM North EDSA) and Sea Residences (SM Mall of Asia) respectively. Also, SMDC Condominiums are linked or a walking distance away from SM Malls that adds convenient to tenants and guests. The SM group of companies is a dominant force in Malls, Retails and Banking operations in the Philippines. Slowly but surely, SMDC is also becoming a dominate name in the country in residential property development.

Have you try riding an airplane at NAIA? As the airplane started to glide up through the air, try to look outside the window and you will see tall white and blue sky scrapers within metro manila, that is the trademark SMDC Condominiums.

When you buy an SMDC Condonimnium, you can be sure you will have high potential income primarily because SMDC invest billions pesos marketing their projects. As all Filipino people have known SM Malls, they will also recognized SMDC in a very near future. For your condominium renting business to become successful, all you have to do is add finishing touches and interiors within your unit. Remember that there are also many SMDC condo units being rented out there. Be sure that your unit will stand out.

Anthony Alde is a Property Specialist of SMDC, everything expressed in here is based on his experience and should not be considered as an official statement from SMDC.

Sub-Urban Sanctuaries

Sub-Urban Sanctuaries

A sub-urban sanctuary is typically a Medium rise condominium village which has plenty of green spaces such as landscaped gardens. It has many amenities such as grand lobby, club house, function rooms, adult pools, kiddie pools, children's playground, jogging path, meditation areas and outdoor basketball court. Optional are the fitness gym, other indoor sports like billiards, table tennis and drying cages.

Living in a condo village or sub-urban sanctuary has many benefits. In my case, I get to participate to our annual basketball and volleyball league held at the basketball court. I could also attend to our Zumba class that is held once a week in the club house. I also start the day with a 30 minutes ride in a bicycle or 20 minutes run in a treadmill found inside the fitness gym. During our rest day, my wife and I spend time relaxing and enjoying the company of each other at the swimming pool. After a very productive day, I can sit down, relax and meditate in the gazebos which is surrounded by greenery and beautiful landscaped gardens where you can watch beautiful butterflies flying. There is also an annual swimming sports clinic especially for children during summer.  My neighbor also gained peace of mind especially when they're children is safely playing at the children's playground. Also, many of our neighbors hold their special events in our club house such as birthday party, reception for baptism, garden wedding and many more.

When you live in a sub-urban sanctuary, you will feel very close to nature. At night when I come home from a tiredly day, smooth breeze of air and a wonderful smile with a salute from the security guard will welcome me at the gated entrance or our condo village. Every morning, I am awaken by the beautiful chirps of the birds and the warmth ray from the sun.

I'm very blessed I was able to experience this and where to able to share this with you. 

SM Development Corporation or SMDC also offers Sub-Urban Sanctuaries in the following location:
  • Trees Residences at Novaliches, Quezon City near SM City Fairview
  • Chateau Elysee at Bicutan, Paranaque City near SM City Bicutan
  • Field Residences at Sucat, Paranaque City near SM City Sucat
  • Grace Residences at Taguig City near SM Aura and Bonifacio Global City

Anthony Alde is a Property Specialist of SMDC, everything expressed in here is based on his experience and should not be considered as an official statement from SMDC.

A Guide to the Condo-buying Process

A Guide to the Condo-buying Process

Thinking of buying a condo? The idea of owning your very own luxury condo unit is incredibly appealing. That is, until you get to the actual buying process. Suddenly, it gets pretty intimidating.

Buying a condo appears daunting, but then again, buying any type of real estate usually is. But if you have a solid idea of what the process is, you’ll know what to expect and you can prepare accordingly. Preparing what you can ahead of time already eliminates any additional stress.

The condo-buying process is actually pretty simple once you have everything you need prepared. Here are the basic steps in the condo-buying process to guide you:

1. Prepare your documents.

When you reserve a unit, it’s best that you have the necessary documents already prepared. You’ll be needing at least (2) valid Ids, a checking account, a utility or credit card bill in your name, a recent Income Tax Return, to start with. For special circumstances, you may need other documents like a Special Power of Attorney, and so on. To be sure, ask your broker for the requirements you need.

2. Reserve the unit.

Make sure that you’ve clearly communicated with your broker regarding your preferred unit location, orientation, and other specifics. Also, make sure that you’re up to speed on the necessary computations. You’ll be asked to fill up a reservation form, a registration fee, and pay the reservation fee.

3. Submit requirements for the processing of the Notice of Approval.

For the processing of the Notice of Approval (NOA), you’ll need the documents mentioned in Step 1, plus the reservation form, a copy of the provisional receipt for the reservation fee, as well as the computation sheet signed by you and your broker.

4. Submit requirements for contract preparation.

After the NOA is released, the contract is ready to be prepared. For this process, you’ll need the reservation forms, valid Ids, proof of billing, a copy of the signed computation sheet, proof of TIN, and a copy of your marriage certificate if you’re married.

5. Submit all documents within 30 days from your reservation date.

For this step, you’ll need the signed contract, as well as the complete post dated checks.

Be sure to work with your buyer on the requirements you need. Don’t hesitate to ask questions, especially if something is unclear to you. This way, you’ll be able to purchase your condo unit without the unnecessary stress!

source :

Should You Buy A Condo?

Should You Buy A Condo?

The decision to buy a condo does not come easily. After all, relocating is a major life event, not to mention the amount of money to be shelled out in buying one.

When you’re relocating to a new city or area, you’re faced with a big decision on where to live. There are plenty of options, like buying a single-family dwelling or buying condo unit. Each option has its advantages, disadvantages, and risks.

So, should you buy a condo? Here are some points to consider so you can make an informed decision:

1. Budget

As with any major decision, you should always consider your finances. Condos are typically more affordable than a house, but you should also think about whether your monthly budget can handle the possibility of homeowners’ association fees, and the like.

2. Location

Of course, the basic question is where you want to live. In choosing an area, plenty of factors can come into play, like your daily commute to work or school, or even your lifestyle and hobbies. From there, check out the options for condos and single-family homes. If you’re looking for a place in the heart of the city, you’re more likely to find a suitable condo.

3. Privacy

A single-family home affords you privacy. Some people value their privacy more than others, so living in a condo might not be an ideal setup because of the close proximity of the units. The condo association typically sets up rules and regulations that address this concern, but you may want to look closely into this when you’re considering a condo.

4. Maintenance

If maintaining a lawn or cleaning out gutters isn’t really your thing, then condo living might just be for you. Unlike living in a single-family home, condo life usually means that the admin is taking care of exterior maintenance and other similar concerns.

5. Security and safety

Living in a single-family home in a gated community can definitely give you peace of mind. Condos also offer that kind of security, with guard services or buzzer systems. You can also work with the building admin if you want additional security systems in your unit.

Ultimately, it’s about buying well to suit your lifestyle. If you carefully consider the points above, you should be able to benefit from a good investment, whether you choose a condo or a single-family home.

source :

Tips for Buying a Condo in the Philippines

Tips for Buying a Condo in the Philippines

Looking to purchase a home? A sky high lifestyle in a condominium could be for you.

For those looking to find a new home, purchasing a condo is one of the options you can consider. Condos are a popular choice in real estate in the Philippines. Having a condo not only provides you with a good home, you also enjoy the luxuries that come with it. With condos strategically located in or near business districts, it’s definitely advantageous to residents.

However, it’s understandable that buying a condo can be intimidating, especially if you’re buying one for the first time. While condos are generally less expensive than house and lots, it’s still a major purchase decision.

Here are some tips for you to consider, if you’re looking to purchase a condo:

1. Analyze your financial capacity.

Before you start your search, you have to know what you can afford. Evaluate your funds and where these will come from. Visit your trusted bank, and they can give you the details you’ll need before you purchase a condo. They will also work with you on setting a reasonable budget for your income.

2. Check the developer’s track record.

If you already have properties in mind, do research first. Are the projects finished on time? When is the turnover date for your prospective condo?

3. Consider your location.

Aside from the general location, pay attention to the neighbourhood. Consider things like your daily commute, the proximity to grocery stores, malls, and other factors that could be appealing or unappealing.

4. Attend open houses for your preferred condo.

Typically there are scheduled open houses for different properties. If not, you can get in touch with your seller to set up a schedule for viewing. It’s best to really take your time in going through the condo and take note of things you like and don’t like. Don’t forget to take note of these on a notebook or on your smartphone. This way, you’ll be able to compare notes when you’re trying to narrow down your choices.

5. Ask questions.

If something is not clear to you, don’t hesitate to ask your seller. Ask about details like fees associated with the property. Are there association fees you need to pay? What comes with these fees? Know what benefits come with what you’re paying for.

It can be pretty scary for a first-time buyer, but keep these tips in mind and you’ll be able to approach the condo-buying process with confidence.

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Tips for People Who Want to Invest in a Condo

Tips for People Who Want to Invest in a Condo

Keeping your money tucked away is good, but investing it can help generate more money for you in the future. One great investment option you can explore is investing in a condominium.

Luxury condominiums are on the rise in all the key locations. These condos are a great investment, not just as a place to live in, but also as an instrument that you can profit from.

Do condos make sound investments? Absolutely. High-rise living in a condo is an extremely attractive offer. For one, these condos are typically located in prime locations, allowing them easy access to business districts, schools, and their favorite establishments. Luxury condos also have amenities like pools, gyms, gardens, and common areas, so residents enjoy resort-like living without having to leave the city.

Thinking of investing in a condo to make a profit out of it? Here are some helpful tips:

1. Check your finances.

Before you look into condos, make sure you have a steady flow of income, or at least a solid source of finances to make the downpayment and other fees for the property.

2. Treat the property as a business.

If you’re going to profit from renting the condo out, treat it like a business. This means you have to really understand the property and its features. Knowing the property from the inside-out is key in figuring out how to sell it.

3. Know your market.

Taking your cue from #2, you have to identify your market so you know how to communicate with them. For example, if it’s a condo near a school, your potential tenants would be students. If it’s in the business district, your prospects would be yuppies and businessmen.

4. Know how to talk to your market.

Your unit be nice, but other condos could be as well. This is where the knowledge of your property and market comes in. You’ll know what features appeal to your target tenants, and you’ll be able to communicate that to them. Like if you’re targeting students, you can highlight the easy commute to their school, the communal area where they can work quietly, and so on.

5. Be prepared to market your property.

You’ll need to get word out that you’re renting out your unit. You can do this through classified ads, or online.

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Why You Should Invest in a Condo

Why You Should Invest in a Condo

If you’re looking for a good investment opportunity, you may want to consider investing in a condo.

With properties currently being built and still lined up, the Philippines is definitely enjoying a major surge in the real estate market. After all, condo living is an attractive offer. Living in a condo lets residents enjoy five-star living in key locations that allow them easy access to their favorite establishments.

A condo also makes for a sound investment. Here are just some of the reasons why you should consider investing:

If your condo is situated in a prime location, it can bring a premium resell price or monthly rental.
Condos can help you rent out your unit through their rental services, ensuring that the unit is occupied and the cash keeps flowing.

The purchase price is lower compared to a single family home. Renting it out tends to be cheaper than a typical home because the maintenance costs are shared, even if the property value is high.
Because condos have restrictions when it comes to maintaining the property, its value is maintained as well, which is great for when you’re renting it out.

Condos offer great amenities like pools, gyms, gardens, and so on. These are great perks for renting or reselling.

Reselling or renting out a condo is a great way to benefit from the property boom. Because of shortages in housing, it can be said that there is a demand for property rentals. Plus, your market is not limited to locals. Recently, it has also been observed that tourists consider condos as alternatives to hotels because they are cheaper.

Given that there is a market for rentals and reselling, investing your money in a condo is definitely worth considering.

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Frequently Asked Questions about SMDC Condominiums

Frequently Asked Questions to SMDC Condominiums

For the past 4 years as a Property Specialist in SMDC, I've encountered the following frequently asked questions by prospective buyers.

Is it safe to live in SMDC Condominiums?
Absolutely Yes, because the government through HLURB has granted SMDC to sell its condo units to the public because it follows and abides to the rules and requirements set by the government.

Are SMDC condominiums safe in Earthquake?
Yes, because all of SMDC condominium projects have followed the building code set by the government.

What are the advantages of having an SMDC Condo Unit?
SMDC Condominium Projects have high potential rental income since most of it's projects are located in a prime location or transport oriented location.

Do SMDC condominiums have title?
Yes, it's called CCT or Condominium Certificate Title.

Do I own the condominium unit forever?
Yes. It's called Perpetual Property.

Why are units at SMDC small compare to other developers?
Because we are targeting young professionals and students. Most of our projects can be found near universities and commercial centers and business districts.

Why are there many units per floor at SMDC?
Because the buildings and areas that is being developed or has been developed is big.

Who is the contractor of SMDC projects?
SMDC has different contractors per project. SMDC teams up with the country's elite and most trusted construction company such as EEI, DDT Konstruct Inc, Megawide Inc. etc.

What is CTS?
CTS or Contract To Sell

When is the turnover of my unit?
The turnover of your unit/s can be found in your CTS

How much is the discount if I will pay the unit cash?
It differs. Most of our projects offers 10% discount on the list price for Spot Cash Payments.

How much is the association or condominium dues?
It differs from the location of the project and the features and amenities it maintains.

Are pets allowed in SMDC condominiums?

What is Other Charges?
Other Charges or Legal Miscellaneous Fees is composed of witholding tax, documentary stamps, transfer of title tax, electric and water meter connection.

What is the deliverable of SMDC condo unit?
It differs. Most of our project offers Basic Finished (Liveable) meaning there is no appliances and furniture included.

Why are the turnover of SMDC condo units are late?
Turnover Date refers to the turnover of the project by the developer while Move-In Date refers to the turnover of the unit by the developer to the unit owner.

What is punch listing?
The date and time set by the property management for the unit owner to inspect and accept the unit.

What is move in fees?
Move-in fees is a start up fund for the Condominium Corporation or Property Management. It is a 1 time payment which is equals to 6 months of Monthly Association Dues.

What are the requirements for reservation?

Photocopy of 2 valid ID's, sign the Reservation Agreement (RA), Buyer's Information Sheet (BIS) and Schedule of Payment (SOP) and prepare the reservation fee. For Dated Check, it should be payable to SMDC.

How can I reserve a unit at SMDC?
Talked to an Authorized SMDC Property Specialist, select a unit, present photocopy of 2 valid ID's, sign the Reservation Agreement (RA), Buyer's Information Sheet (BIS) and Schedule of Payment (SOP) and prepare the reservation fee. For Dated Check, it should be payable to SMDC.

Can I hold the unit with an initial reservation?
No. Initial reservation or earnest money is prohibited in SMDC. Local and International Agents and Brokers are not allowed to accept cash payment for reservation, partial or full.

Do SMDC accepts PAGIBIG Financing?
Most of the projects of SMDC only accepts Bank Financing.

Is it true that the lifespan of SMDC Condominiums is only 50 years?
No. This term lifespan here may refer to the condominium corporation. Corporations in the Philippines have a lifespan of 50 years. The physical building, however, doesn't follow that same concept. In effect, your condominium corporation ends after 50 years of incorporation, but that doesn't mean that your condo unit would be taken away from you. The unit is still yours after 50 years, this simply means that you will not lose your property. If your corporation, however, decides to sell the entire building after 50 years due to the conditions stated in Section 8c of the Condominium Act, then physically the unit would be taken from you, but you are entitled to your share of the income from the sale.

Anthony Alde is a Property Specialist of SMDC, everything expressed in here is based on his experience and should not be considered as an official statement from SMDC.

Join us and experience the soulful voice of Ms. Lani Misalucha live at the SMDC Grand Showroom this July 24, 2014, 6PM

Join us and experience the soulful voice of Ms. Lani Misalucha live at the SMDC Grand Showroom this July 24, 2014, 6PM

Join us and experience the soulful voice of Ms. Lani Misalucha live at the SMDC Grand Showroom this July 24, 2014, 6PM

Anthony  Alde

Join us for cocktails and a private screening of She’s Dating the Gangster this July 17, 2014 at Rack’s, SM City Fairview.

Join us for cocktails and a private screening of She’s Dating the Gangster this July 17, 2014 at Rack’s, SM City Fairview.

Join us for cocktails and a private screening of She’s Dating the Gangster this July 17, 2014 at Rack’s, SM City Fairview.

See you there!

Anthony  Alde

SMDC Weekend Open House

SMDC Weekend Open House

Got a sweet tooth? Swing by our showrooms! Sips, bites and sweets are on us! It's gonna be a sweet weekend with the good guys

Jazz Residences Weekend Open House

Jazz Residences Weekend Open House

July 27 & 28, 2013 | 2PM-6PM

Jazz Residences Showroom
2/F Crown Center Jupiter cor. N. Garcia St., Bel-Air, Makati City (BDO Jupiter Branch)

Make your reservations and enjoy promotional promo packages!

London Barrio Fiesta 2013

London Barrio Fiesta 2013

Hi Guys! SMDC The Good Guys will be at the United Kingdom for the London Barrio Fiesta 2013!
Visit us at the Apps Court Farm near Hampton Court on July 20-21!

Life Twice As Radiant

Life Twice As Radiant

Life Twice As Radiant

SMDC Weekend Open House

SMDC Weekend Open House

Spend your weekend with the good guys! Sips, bites and sweets are on us. Visit our showrooms for our weekend open house activities!

SMDC The Good Guys with the Eat Bulaga DA'BARKADS!

SMDC The Good Guys with the Eat Bulaga DA'BARKADS!

SMDC The Good Guys with the Eat Bulaga DA'BARKADS!
JUNE 30, 2013 (Sunday) at the HIBIYA KOKAIDO HALL, JAPAN!
show starts at 3PM!

Twice as Bright

Twice as Bright

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