Floor Area: 120 sq. m.

Rental: Php350/sq. m.

Ready for occupancy

offices spaces in other locations or sizes are also available.

For inquiries and viewing appointment:

Call Weng/Cashflow Realty

Telephone: +632.577.0935

Mobile: +63.917.850.5681

Incoming search terms:

• office unit for rent in ortigas
• PEZA Ortigas

Related posts:

1. JOLLIBEE PLAZA Emerald Ave. Ortigas OFFICE CONDO UNIT For RENT or SALE
2. PRESTIGE TOWER Office Condo in EMERALD AVENUE ORTIGAS
3. PRESTIGE TOWER Office Condo in EMERALD AVENUE ORTIGAS

Writing a Purchase Contract or Letter of Intent (LOI) to buy an apartment building or commercial property can be an exciting experience. It can also be a bit intimidating. This is especially true for beginning investors.

There are a lot of very important items in these documents and you do not want to make a mistake here. This begs the question, “What is the most important clause to include in a purchase agreement or letter of intent?”

One of the most important things you can build into these documents is a clause that allows you to perform proper “due diligence” on the property. Basically you want to make sure that you have time to review all of the necessary financial information, management documents, and fully inspect the property itself BEFORE you finalize the purchase of the property. If things are not what they appear to be on the surface, it is better to find out now – before you own the property than 6 months down the road.

What should I include in a “Due Diligence” Clause when purchasing a property?

Quick Legal Disclaimer: I am not an attorney. This is not legal advice, nor should be construed as such. This is for informational purposes only. Laws vary from state to state and you should seek professional legal advice when necessary. OK, I think we have made our lawyers happy now.

Here is an example of a good “Due Diligence Clause” you can use:

“Seller to provide the following for buyers examination and approval in the next 30 days:

1) All leases

2) All property management agreements

3) All vendor contracts

4) Current Rent Roll

5) Property Income and Expense History for the last two years

6) Year to date property income and expense history

7) Last two years tax returns as they pertain to the property

All units, buildings, grounds and mechanical systems.

Buyer may void this contract at any time during this 30 day period if the information found does not meet buyers approval”

Of course you may add or subtract items as needed or change the time limits for your particular transaction. This little contract clause may save you from making a huge mistake down the road, so be sure to save this one for future reference!

Incoming search terms:

• intent to buy real estate
• Letter of Intent to Purchase Real Estate in the philippines
• letter of intent to buy real estate
• letter of intent to purchase real estate property philippines
• letter of intent to buy real estate in philippines
• letter of intent to buy sample
• letter of intent to purchase philippines
• letter of intent to purchase real estate philippines
• letter of intent to rent or lease a property in the philippines
• letter to call center space for rental

Related posts:

1. The 5 Things You Absolutely Must Do In Choosing A Real Estate Developer
2. Apartment Investing – The Biggest Mistake About Property Location
3. Finding the Best Apartment and Commercial Real Estate Deals No Matter What the Economy is Doing

“If you do not conquer self, you will be conquered by self.” — Napoleon Hill

A few folks were upset when they read my last article about finding the best apartment deals…no matter what the economy is doing! I am not saying to bury your head in the sand and ignore some of the great foreclosure deals, short sales, and the like. What I am saying is that in any market you will find some of the best deals because of the following:

1. Dumb Owners.

2. Dumb Realtors

3. Dumb Managers.

In response to some of the comments I received, I would like to take this time to…

NOT APOLOGIZE! Why?? Stay with me…

If you are an owner of an apartment property and you have not raised your rents in 7 years or you have not protested your property tax assessment that is $80,000 too high then you are dumb. You are leaving thousand of dollars on the table when you do not have too…

If you are a Realtor (and I am a licensed Broker by the way) and you put a property up for sale, not knowing what you are doing and under pricing it by as much as $50,000 then you would be dumb…

OR…

If you are a manager that does not do a good job of taking care of your clients property, let it go into disrepair and do not do anything in terms of helping your client raise the cash flow and value of the property then…you are dumb…

The above are not made up stories. I have run into these kinds of things in my business and do so more often than you would think…

Bottom line here ALL of this is avoidable and there are specific check lists that if used prevent all of this from happening TO YOU AND how you can take advantage and find these opportunities. But one person’s stupidity is another opportunity and this is where most of the profitable deals that I (and my top clients) come from…no matter what the economy is doing.

Related posts:

1. Commercial Real Estate, The Financial Crisis, and The Media
2. Apartment Investing – The Biggest Mistake About Property Location
3. Commercial Property Leasing – Pain Points to Lease Negotiation

If you are a retail property manager or retail leasing manager you would know the high value benefit that can be obtained through careful negotiation of lease renewals in a shopping centre. The lease renewal is something you would consider carefully. You have to know what the property is doing and where it is headed. The lease renewal should be looked at in balance to the overall property plans and targets.

Obviously the tenant is also quite focused on the retail lease renewal as it is make or break time for their business. They either get a lease renewal and the business continues, or they vacate and have to move the business elsewhere.

Good planning and communication by the property manager leading up to a retail lease renewal is essential to property stability and control. The retail property or leasing manager is the point of balance between the landlord’s investment plans, the tenants business, the customers, and the property function.

So when a lease comes up for renewal negotiation there are a number of alternatives:

1. Do not renew and let a vacancy occur. It could be that another plan exists for the property or the local area.
2. Refurbish the premises as part of the discussion for a new lease. Retail property ages faster than office property, so it pays to have an ongoing refurbishment plan in motion.
3. Renovate the common areas adjacent to the tenancy. This helps integrate the property into the local community and optimise sales or visitation
4. Relocate the tenant to a better position in the tenant mix. Sometimes a relocation proposal is good for the tenant and for the property. As part of the relocation, the tenant could be offered enticements such as better rent incentives, larger premises, better premises, or better location.
5. Renew on consistent terms with the existing lease arrangements. If keeping the status quo is preferable in the lease negotiation then that is fine; you just need to relate that to the coming years that the lease will remain active.
6. Negotiate fresh occupancy terms that are in keeping with new plans for the tenancy or the property (or both).
7. Demolish the property and build something else. Changes to the local community may indicate that this is a better plan for the future.
8. Offer the tenant a proposal that involves them improving their offering or shop presentation.

So a lease renewal in a retail property or shopping centre is a great opportunity for change. It allows the landlord to help the tenant with their future plans, whilst optimising the property future. Every lease renewal should be looked at across the entire property balance, not individually. Use the lease renewal to improve the tenant mix and offering to the community. The tenants and the landlord both see ultimate benefit.

Incoming search terms:

• condo retail shops for rent
• retail shopping center

Related posts:

1. Commercial Property Leasing – Pain Points to Lease Negotiation
2. Things I Have Learned About Leasing Commercial Office Premises
3. 6 Reasons To Invest in Office Space For Rent In Ortigas

“Always do right – this will gratify some and astonish the rest.” — Mark Twain

I like the media. I watch enough news to keep up to date with what is happening and spend most of my time reading trade journals. But did you know something…

In many areas of the country commercial real estate sales have hit records in recent years? Don’t get me wrong – it is not ALL completely rosy, but it is not completely horrid either. When the media does seem to present good news, they seem to put some spin on it like the following:

“Commercial Real Estate Sales Explode But Trouble Looms!”

OR

“Commercial Real Estate Sales Take Off in 2010 But Will Take A Nose Dive In 2011!”

Etc.

Do yourself a favor and always have your media filter on.

I was brought thinking that the media was about explaining the facts to us NOT about explaining someone’s agenda or what will sell more periodicals…

Am I saying put your head in the sand? No. I am saying always use your media filter OK? Make sure you keep in mind of the FACTS and not the agenda of the publications you are reading.

Anyway, my two rules going forward for the rest of this year is:

1. Use Your Media Filter. What is REALLY Going On Here?

2. Have Your Antenna Up ALL the Time for Opportunity. It will be there for you…

By the way, this ALL spells good news for commercial real estate investors. The panic will have many people thinking they need to get out and many will — prematurely. That spells opportunity.

Related posts:

1. Things I Have Learned About Leasing Commercial Office Premises
2. Commercial Property Leasing – Pain Points to Lease Negotiation
3. Property Reviews – Looking At Real Estate Developers

When leasing commercial or retail premises there are certain points of negotiation that always create pain for the parties concerned. Here are a few of the big and most common ones:

1. The landlord wants a high starting rent
2. The tenant wants a big incentive
3. The tenant wants a huge option term for further potential occupancy
4. The landlord wants a tenant but is not prepared to provide an incentive to attract them to the property
5. The last tenant left the premises in a mess and the landlord will not fix it up until a new tenant is found
6. The landlord will not refurbish the premises before they have a tenant on a signed lease
7. The tenant does not want to give any form of guarantee as security in the case of any default of lease

These are the most common problems for the average lease negotiation. Most landlords also think that their property is better than anything else around and on that basis will not negotiate down on any rent to get the premises let. So often you hear that the landlord is prepared to wait it out and see what the next tenant will offer.

In this market there are limited numbers of active tenants looking to relocate to new premises. In some cases there can be 5 properties available for every tenant to choose from. Urgency in the lease deal is not high from the tenant’s perspective; landlords need to know this. They may only get one tenant to make an offer for the premises.

When it comes to leasing premises it is not where you start your lease and rent, but it is more important to know where you are headed and where you will finish. Rent reviews during the lease term can take care of rent escalation to improve the lease, providing the real estate agent negotiates the lease well.

So what can you do with this list of common leasing problems? The best way is to use the pain of the vacancy (in the case of the landlord), or the pain of the need for new premises (in the case of a tenant) to move the deal forward. You should work with the offer that you have and not hope that another will come again soon to replace a low offer today.

Take today’s lease offer and turn it into a valuable lease over the term. Show the landlord the real value of the lease by doing an analysis of the deal using a net present value approach on the lease cash flow over the lease term. It is remarkable how the landlord will soften their negotiation position when long term lease value is explained in numbers.

Related posts:

1. Things I Have Learned About Leasing Commercial Office Premises
2. Apartment Investing – The Biggest Mistake About Property Location
3. 6 Reasons To Invest in Office Space For Rent In Ortigas

“To aim is not enough, you must hit!” — German Proverb

Optimism. I like it and I have a lot of it. However, foolish optimism can get you into trouble.

In the real estate world I have seen people that think they can take a falling down apartment property in a poverty ridden area and make it into a property that everyone would want to live in. It SOUNDS great BUT won’t work – most of the time. The biggest mistake I have learned over the years about property location is this:

You can change a property but you cannot change the neighborhood.

Read that sentence again because it will save you a bundle of money over your investment life. It makes sense to buy a property based on the numbers and the property itself, but the location also has to be good.

I have 3 quick litmus tests to discover if you are buying in the right location:

1. Visit the property multiple times over multiple days. Do not make the mistake of just going through the property on a Tuesday morning at 9:00 AM. Come back again at night and see how things are as well – even better if you can visit on a Friday or Saturday night.

2. Walk the neighborhood during your visits. Are you comfortable in the neighborhood? you should be because your prospective residents will want to be, as well.

3. Would you buy this property over again in 5, 10, or 15 years? Think about which way the neighborhood is going and “buy the property over again” in your mind in the future. Would you buy it again based on what you see?

The second mistake I see on this is a person that has little in way of money and resources and chooses to buy a really bad property where they are selling guns out of apartment #10 and drugs out of #11 because he or she could get it for low or no money down… This is typically done because after the purchase and gain control – THEN they can change the property.

Sorry folks. It is not going to happen. In “Think and Grow Rich,” author Napoleon Hill talks about being optimistic – BUT being REALISTIC too. In other words not ignoring the elephant in the room and hoping it will go away.

Be positive, be optimistic, be tough and have a great attitude. It is all-important but make sure you are REAL in what a property really holds for you.

Related posts:

1. Turnkey Investment in Ortigas
2. Property Reviews – Looking At Real Estate Developers
3. 6 Reasons To Invest in Office Space For Rent In Ortigas

That is to be expected because the majority is not equipped with the necessary knowledge and experience in commercial property investing. There is also the perception that such an investment requires huge amounts of capital.

That is from the truth. Here are 6 reasons to include commercial property, such as office space for rent in Ortigas, in your property portfolio.

Prime, Strategic Location

Commercial properties are located in prime business locations. The Ortigas center is one such location and is considered the 2nd most important business district in Metro Manila.

It is a highly desirable commercial location with a high density of office space buildings, commercial centers and residential condominiums.

Ortigas Center is home to many of the Philippines biggest corporations such San Miguel, Banco De Oro and IBM Daksh.

Ortigas is also strategically located in the center of Metro Manila making it more accessible than Makati to residents in the North and East of Metro Manila. It is accessible via various public transportation – jeepneys, buses, shuttle services and the MRT.

High Occupancy Rates

Ortigas Center has historically enjoyed high occupancy rates due to its strategic location and available facilities. Companies prefer to locate or have a branch office in Ortigas to have an accessible to employees and executives living in the North and East of Metro Manila.

Some companies also prefer the Ortigas area to be near their clients and customers. Being a commercial hub, there are many potential clients and customers in the Ortigas Center area.

Currently, occupancy rate stands at around 94%. Most of the prime buildings have high occupancy rates and the vacancies are commonly in the older buildings.

In addition, companies normally don’t move unless there is a compelling business reason – either there is a need to expand or the rates have escalated to too high a level compared to prevailing market rates.

Limited Supply

The current high occupancy rate is also driven by the lack of incoming supply. There is a deficiency in the supply of quality office space for rent in Ortigas

The limited supply works in the favor of the investor since it drives the rental rates up and ensures continued high occupancy.

This year, the I-Square building is the only building becoming operational and it will take at least another 3 years before a new building is built.

Available Facilities

Ortigas is a hub of business, commercial and residential facilities.

It is home to big shopping malls and retail commercial centers – SM Megamall, Robinson’s Galleria, Shangri-La, Podium and St. Francis Square.

It is the home of the University of Asia & the Pacific and Lourdes School. It is also near De La Salle University in Taft.

Less Property Management Hassle

Office condominiums in general requires less property management. The tenant is responsible in maintaining the property. Tenants coordinate with the condominium administration for their needs usually without the need of the owner.

For office and commercial buildings, there is usually enough income to hire a property management office.

No Rent Control Headaches

Office space rentals are not subject to rent control laws. It is also easier to just padlock a company that is already in violation of the lease contract. Enforcing the lease contract is generally easier with office space rentals.

With residential rental properties, kicking out a tenant usually requires intervention from the sheriff or other local authority. The legal process usually provides remedies for the tenant to lengthen their stay.

Such is not the case with office spaces. A tenant in default can be padlocked or power can be cut off to the unit effectively stopping company operations. Any office equipment can also be held as chattel mortgage providing additional security for the investor.

In Summary

Office space rentals are a viable addition to any property portfolio. Offices spaces to be held as investments should be located in prime locations, have high occupancy rates, face limited supply and have access to desirable facilities. In addition, investing in offices is desirable because there is less property management hassle and there are no rent control headaches.

These 6 reasons factors combined make office space for rent in Ortigas a compelling alternative for addition to your investment property portfolio.

Incoming search terms:

• como justificar mas espacio de oficina

Related posts:

1. 4 Good Reasons To Get Office Space For Rent In Ortigas
2. THE ORIENT SQUARE Emerald Ave. Ortigas OFFICE CONDO UNITS For Sale
3. THE TAIPAN PLACE Emerald Ave. Ortigas OFFICE CONDO UNIT For Rent/Sale

In this property market the leasing of office premises is a valuable market segment for commissions and listings. When you work as a real estate agent in commercial real estate it pays to focus your prospecting efforts in this market segment as businesses seek to relocate, expand, contract, or change. Property sales may be slower but leasing is still happening.

Markets and economies like this may have some frustrations for many agents, but those that can and do focus on leasing of premises will find some reasonable property activity and churn. In slower economies, the leasing of premises will still happen because businesses want to change their rent or lease structure, taking advantage of the economic situation whilst premises are readily available and in relative abundance.

The big thing I have learned about office leasing is that you have to know the market really well and the tenants throughout. It is remarkable how much commission you can make from leasing if you dedicate your efforts to knowing the local business community thoroughly.

The best way to do this is to pick up the regional and local telephone book and research the businesses to call. Here is what you need to know in planning the process:

1. What is their business focus in service or product?
2. How do they serve their customers?
3. What type of premises do they need to do business?
4. Are they under any pressure to expand or contract?
5. Do they have any sublet or assignment preferences?
6. Who is the business decision maker locally and how can you reach them?
7. What are the ideal space requirements in any tenancy?
8. What improvements must they have in premises they occupy?
9. Do they need to be near other businesses and if so what and why?
10. What services and amenities do they need to function at the optimum level?
11. How many staff do they have and are there any special fitout requirements as a result of staff operations?

The list can go on and should drill down substantially into the tenants business. Special businesses will have a very detailed list of tenant and business requirements in leased space occupation. The more questions you ask, the better you can serve the lease enquiry when it happens in the future.

In researching premises and businesses from a leasing point of view, the cycle of contact you create with the business leader is critical to the market share and future lease opportunity. Regular ongoing contact is the way to create attention and the focus of the decision maker. When they are ready to handle their lease decision, they are then more likely to call you before other local agents.

A lease or premises change for a business comes up on a fixed period based on the existing lease duration. To tap into that cycle before the pressure occurs is critical to the market share and lease success you require. Research the existing leases in the local are to find out when the leases expire and then build your prospecting and contact model around those facts. Lease opportunity will then be yours to tap into.

Incoming search terms:

• cashflow realty business

Related posts:

1. Property Reviews – Looking At Real Estate Developers
2. The 5 Things You Absolutely Must Do In Choosing A Real Estate Developer
3. 4 Good Reasons To Get Office Space For Rent In Ortigas

Here are 4 factors that make office space for rent in Ortigas a better alternative.

Better Rates

Ortigas offer better office space rental rates than either Makati or the Fort. It is not surprising to find lease rates at 30-45% below the rates of comparable office buildings in Makati. By virtue of location, even older buildings charge a higher rate in Makati while you can already get a better office space in Ortigas for the same price.

For many companies that provide corporate housing for their local and expatriate employees, the lower lease rates also apply to residential leases, saving companies thousands of pesos every month. This translates to huge monthly cost savings for companies that relocate to Ortigas making it easy to justify the move.

Accessibility

Ortigas is in the middle of Metro Manila making it more accessible to residents in the North and East of Metro Manila such as Quezon City, Caloocan, Pasig, Marikina and Rizal.

This central location cuts down travel time for employees living in the north and eastern parts of Metro Manila. Companies relocating to Ortigas find favorable feedback from their employees living in these areas.

Traffic in Makati already adds 30 minutes to an hour of one-way travel time. Employees can surely appreciate the extra hour or two that they save on travel time. This is not saying that Ortigas does not have traffic, it also does especially during rush hour.

Employees are not the only ones that benefit from the central location. Potential clients and customers will also appreciate the accessibility of the company. Customers will definitely be looking for businesses that can conveniently provide goods and services to their customers.

Therefore, accessibility is a very important consideration in choosing an office space to rent.

Available Facilities

There are similar business and commercial facilities available in Ortigas center. It has plenty of PEZA-accredited office space for rent for BPOs and Call Centers. Major commercial banks and financial institutions have offices in Ortigas.

Major commercial centers and malls operate in Ortigas – SM Megamall, Robinsons, Shangri-La and Podium.

Office spaces for rent in Ortigas have the same features – high-speed fiber optic networks, backup power, reliable security, low-crime and access to many conveniences.

Access to Talent

Companies have access to similar talent level as that of Makati. For the BPO and Call Center industries, Ortigas has an even higher concentration of talent available since Ortigas is considered the call center capital of the country.

Put out a hiring sign in Emerald Avenue and you can easily get a long line of candidates checking your job opening ad. There is no shortage of talent in Ortigas.

Because of its central location and accessibility, Ortigas attracts top talent just as well as Makati. In fact, top corporations have head offices or major subsidiaries in Ortigas – San Miguel, BDO, Emerson Network Power, IBM, Sykes and Pacific Hub to name a few.

In Summary

The 4 factors mentioned above – better rates, centrally-accessible location, available facilities and access to talent – make Ortigas center a highly desirable location for businesses and companies seeking to setup an office in Metro Manila.

These factors combined make office space for rent in Ortigas a great alternative for companies looking for better options.

Incoming search terms:

• reasons to make space

Related posts:

1. THE ORIENT SQUARE Emerald Ave. Ortigas OFFICE CONDO UNITS For Sale
2. THE ORIENT SQUARE Emerald Ave. Ortigas OFFICE UNIT For Rent/Sale
3. Taipan Place Ortigas