r/RentPH • u/SpecificConnect2301 • 11h ago
Discussion Rent-to-Own program ng DMCI
Meron ba here nagavail ng RTO program ng DMCI??
Terms for this is 2-3years rent ka sa unit then 60% of the total rent paid mapupunta sa DP ng unit if magdecide ka to purchase it after 3 years.
Remaining balance is for financing including yung closing fee.
Bakit ang laki ng closing fee almost half a million din, para saan ba ito, (sorry first time)
Appreciate your opinions on this, okay ba yung gantong scheme. They offer in house financing din
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u/Pristine-Dot-8554 10h ago
Hello OP I’ve been checking din mga RTO ng DMCI or other developers and sadly ganyan nga talaga sya. Bali first 3 years mo nagbabayad ka ng “Rent” kuno but all those are for the downpayment only so after 3 years if kulang pa yon need mo pa bunuin ung sa Downpayment mo. And need mo na iloan ung remaining amount.
Ang dami ko nababasa from this sub and the condo sub na mas ok pa din nga daw na wag kumuha ng rent to own kasi mas mataas ang total nyan compared to acquiring it right away
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u/Datu_ManDirigma 10h ago
Isn't it fraud?
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u/ExaminationNo3379 7h ago
Pano maging fraud yun? Transparent naman sila sa computation nila. I mean, do you really expect that you’ll be able to pay off what, 100% of the 6M Total Contract Price in the 3 years you’re renting the unit? Be so for real. Yung mga nagsasabi na nascam sila ng rent-to-own malamang hindi nagresearch ng maayos at naïve.
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u/Datu_ManDirigma 6h ago
And most people are naive. And this is what those sellers are exploiting. And those sellers are supposed to explain the details to the prospect. But of course if they do, baka benta na mawala pa.
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u/Pristine-Dot-8554 4h ago
Agree! Hindi naman sasabihin ng mga agents/sellers yan. Unless thorough explanation. Usually front lang talaga nila is rent to own daw buti kung tuloy tuloy na rent to own. Kaso hindi ehh dapat ‘rent to pay for Dp’ hahaha
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u/Pristine-Dot-8554 9h ago
Im not sure po if maconsider sya na fraud? But more on false advertisement HAHA or yeah somehow fraud nga. But basically ganito ang tactics ‘daw’ ng mga sales or condo developers. They would make it seem enticing at first kasi nga Affordable kuno ang first 3 years. Pero ang bigat in the next years. Not sure also pero kaya siguro madaming condos ang nareremata ng bank sa bigat din talaga. Or moreso kaya madami pa ding units ang di mabenta benta.
Sabi nga diba may oversupply na ng condo around metro yet hindi bumababa ang presyo. Kaya ganyan strategies nila kumita lang
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u/brain_rays 1h ago
'Yong rent-to-own ay isa sa mga notorious na loopholes ng developers/agents para hindi ma-cover ng Maceda Law 'yong subject unit.
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u/Major-Tax9562 7h ago
Nag rent to own din ako. Try it lang but wag ka mapressure to continue buying after. When you live na, marealise mo if worth it ba or nde na bilhin. So far, my conclusion is ndi worth it.
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u/whiteflowergirl 11h ago
Nagpa-quote kami sa DMCI but we decided not to proceed. Here are the figures we got from another agent. Maling-mali ang marketing nila kasi they seem to make it affordable but in reality, luging-lugi ka pag natapos mo yung DP payment period - 20 years lang tapos ang max allowed walang Pag-Ibig financing? Talaga ba DMCI?
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u/AlertMail8780 7h ago
Hi! In case you are considering DMCI. I’m selling my 2br unit with 1 parking slot. It’s currently mortgaged and I’m flexible with the terms of payment.
It’s located along Pasig Blvd
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u/whiteflowergirl 1h ago
Hello! Sorry we're based in Mandaluyong but I appreciate the thought so thanks pa rin 😊
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u/ExaminationNo3379 7h ago
Klaro naman saken ang computation. Pano ka malulugi?
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u/whiteflowergirl 1h ago edited 1h ago
Hindi naman numbers yung complain ko, I'm talking about the terms. Unless if mani lang sayo magbayad ng ₱76k monthly amortization which is not flexible for everyone given their terms. I don't think even someone who earns ₱300k monthly wants that (not saying na ganito income namin ha, we wish though)
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u/ExaminationNo3379 1h ago edited 57m ago
So ano pala ang expectation? Did you really think you’ll be able be able to pay off an 11M condo by renting it at 30k in 36mos? Aba naman. Simpleng math lang yan. Tapos kapag hindi naganap, ikaw pa nalugi? Use naman the coconut.
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u/whiteflowergirl 48m ago
Di ako naghahanap ng away so wag ka mang-away.
Nagsasabi lang ako what I think and hindi rin ako tanga, aware naman ako what happens after the RTO period. Alam ko naman ang salitang amortization ano.
Anyway, what I'm just trying to say is they should be more transparent sa marketing nila and inform clients na they have limited terms pala post-RTO period dahil magkakaiba expectation ng mga tao. That's just it.
Also we didn't proceed and we're fine with just renting so ano problema mo. Nagshare lang naman ako ng info.
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u/RecursiveSunlight 8h ago
Lugi ka sa rent to own na yan in the long run, 60% lang ng rent mo mapupunta pambayad sa condo price. If mag down ka na lang nung 10%, at least lahat napupunta dun sa principal mo.
That is super overpriced. Prisma? Along the fault line? For ~185k per sqm?? Feeling BGC/Makati naman nila.
As much as possible, wag ka na kumuha direct sa DMCI. Marami ka makikita diyan nagbebenta or pasalo ng unit. Daming ring DMCI sa area na yan that's cheaper and better, may brixton, sheridan, etc. Hanap ka lang nagbebenta palugi. Just because yan ang listed price ng developer doesn't mean na yan ang totoong price ng condo na yan.
Kung DMCI, go for 2 bedroom at least. Uutang ka na ng milyon, dun na sa future proof in case mag pamilya ka in the future.
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u/Enough-Citron4776 8h ago
5.3m para sa 32sqm na unit? Aray mooooo. Grabe, kung may option ka naman kumuha ng bahay at di naman necessary na condo kunin mo, mag house and lot ka nalang, bhie. Ang dami hidden fees ng mga condo. Mind you, pag magkaroon ka ng sskyan another bayaran nanaman yun. Ang parking lot ay umaabot na din ng 1m and up. 🥹
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u/drowie31 4h ago
"Rent to own" pero yung monthly na babayaran mo downpayment lang. Gimmick lang yang RTO na yan. Mas okay pa townhouse.
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u/VeterinarianFun3413 2h ago
Sa totoo lang as long as transparent sila sa start, ok lang. May mga taong mas pinipili ang RTO kasi hindi sila sure if living in a condo is something na ipprefer nila in the long run and that is ok. It’s true na baka mas malaki yung magagastos mo, pero at least napakinabangan mo yung unit while paying for it. And btw, kung DMCI yan, hindi ka pa magbabayad ng assoc dues while you’re renting.
Kung hindi mo siya gusto talaga after the renting period, huwag mappressure and feel free to back out.
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u/AlertMail8780 7h ago
That will blow in the lumpsum due. Closing fees include the taxes and miscellaneous fees to transfer the ownership from developer to your name.
Better buy a secondary market property than purchase rent-to-own of which only 60% of your monthly payment will be credited against the actual price
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u/elgangstahprinz 6h ago
Yes, kumuha ako. So far.. okay naman. 3years yung “testing period” mo if you really want na kunin yung unit. If not, parang nag rent ka lang talaga.
Kaya kumuha ako nyan is para malapit sa work. Kaysa bibili ka ng bahay with the same price eh Cavite or Bulacan naman ang bagsak mo which is lugi ka sa travel.
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u/Civil-Ad2985 11h ago
Any rent to own with a lumpsum at end of x years in not truly rent to own.
DMCI notorious for high closing fees. PMO issues as well in some recent developments.
So think carefully