Contempo Property inks partnership with Rent.ph

CEBU, Philippines - Property developer Contempo Property Holdings Inc. yesterday officially inked partnership with rental site Rent.ph in an attempt to introduce a new twist in owning condominium units here in Cebu.

The two partner companies simultaneously signed a memorandum of understanding which gives the online portal the muscle to undertake rental management should condo owners later on decide to have their property rented out.

“Most owners, after they buy their units, they are usually left on their own. There’s nobody there to help them maintain their property. We are going to take care of the property management if they wish to enroll to our property management program,” said Anthony Leuterio, founder and president of Rent.ph site.

Contempo, after its entry to the property industry last year, is currently working on a project called Bamboo Bay Community located at corner F. Cabahug and Hernan Cortes Streets in Mandaue City which boasts of its Asian resort-community concept.

“In Cebu, condos here are usually stand-alone with little facilities. Now we’re trying to go beyond the usual package of a basic unit with typical amenities by shaping a community of good neighbors in an Asian resort ambience,” said Contempo president and CEO Beverly Dayanan.

The first tower, which consists of 229 units, is expected to be completed towards the end of 2015 within the one-hectare property. They are also laying down plans for the establishment of the second and third towers which will house 226 and 300 plus units, respectively.

Dayanan said that aside from the usual amenities, Bamboo Bay will feature a grand clubhouse with Asian contemporary theme, an open pavilion for community events, a pool deck with trellised roof, a prayer and meditation room as well as a community store, coffee shop and kitchen pantry.

The community store is said to be unique since aside from the goods being sold at reasonable rates, occupants may also get a sort of reward points which could then be used to pay up their monthly dues.

Initially, Contempo offered introductory rates of P1.5 to P1.7 million but in order to keep true to their theme, they had to incur more costs thus bringing the rates to P1.8 million for finished units and P1.9 million for furnished units.

The developer intends to cater to the middle-income segment and said they offer a friendly payment scheme for prospective owners who will pay P4,999 or P6,999 per month on finished or furnished type of units, respectively.

Contempo marketing manager Glenda Tupaz said that the residential units feature floor-length glass window with sliding panels with the unit’s entrance hallway being roomier.

She said the three residential towers offer two-level parking floors, a reception lobby with counter and mail boxes, lobby powder room, two 11-passenger elevators, fire escape and a standby generator, among others.

Meanwhile, Rent.ph managing partner Chris Malazarte revealed that the reason why they have partnered with Contempo is to promote as much investment value as customers can get.

The Philippines, Malazarte said, not only has a good investment climate, following the two investment upgrade ratings, but also it is set to be the next rental hub in Asia.

“Most condos are for buy-and-sell. It’s about time that owners leverage on the rental side. That way, their investment is not wasted should they come to a decision not to occupy the place anymore,” he said. /JOB (FREEMAN)