I’m reviewing the rent on a Manila townhouse after 64 days of weighing the options. Comparable asking rent appears to be around PHP 348,300, while the current tenant pays about PHP 290,600 for the same rental period.
The gap is significant, but this tenant pays reliably and takes good care of the property. A change of tenant could mean vacancy, refurbishment and other turnover costs, so I’m leaning toward a modest adjustment rather than trying to reach the full asking level. I also realise asking rent is not necessarily the rent a new tenant would actually pay.
The first discussion was straightforward, but the follow-up produced detailed questions about notice and documentation. Under the applicable local rules, who should formally issue the rent-review or increase document, what form should it take, and by what deadline should it be given? How should deposit handling be recorded if the rent changes?
I’d also appreciate views on which facts should drive the amount: payment reliability, maintenance history, likely vacancy time, turnover cost, or current market listings. I want the review to be fair and preserve the relationship, not surprise a good tenant.
The gap is significant, but this tenant pays reliably and takes good care of the property. A change of tenant could mean vacancy, refurbishment and other turnover costs, so I’m leaning toward a modest adjustment rather than trying to reach the full asking level. I also realise asking rent is not necessarily the rent a new tenant would actually pay.
The first discussion was straightforward, but the follow-up produced detailed questions about notice and documentation. Under the applicable local rules, who should formally issue the rent-review or increase document, what form should it take, and by what deadline should it be given? How should deposit handling be recorded if the rent changes?
I’d also appreciate views on which facts should drive the amount: payment reliability, maintenance history, likely vacancy time, turnover cost, or current market listings. I want the review to be fair and preserve the relationship, not surprise a good tenant.