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Goetz1965

Need your opinion about Alicia Development Corp. - Peace Valley Subd. Cebu

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Goetz1965

I found a nice prived townhouse to rent, but as the contract has some "issues" I like to know from you if you know Alicia Development Corp. and can give me some information on their reliability.
The subdivision is located at Corner of Charity and Friendship Streets, Peacy Valley Subd. Lahug Cebu-City.

What makes me curious is that the monthly rent is stated without VAT - never had this before an now wonder how much I have to pay in the end.
Will the BIR send me an additional bill ? Is that usual to pay rent excluding VAT (never had contract like that before)
Rent is 23k ex VAT but they told me I have to pay 25.760 each month. 
Theres a guard, but the contract doesnt tell anything about the cost of them and how to pay that.
So how does that add up ?

Also the contract says that all repairs and alterations in the utility system shall be made by the Lessor and for account of the Lessee.
That means they choose their workers and bill me - even they have to repair their own construction faults. 
I guess that is not lawfull even in the Philippines. As the lessee I usually only pay for regular wear and tear.

Also the contract has to be signed at a notary public - and sure all those costs have to be paid by the lessee. 
I can be ok with that but the overall contract makes me a bit uncomfortable.

Thats why I need your guys opinions and knowledge about said Alicia Development Corp. 

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Woolf
30 minutes ago, Goetz1965 said:

Rent is 23k ex VAT but they told me I have to pay 25.760 each month. 

23 k + 12% is 25,760

why would YOU pay  BIR

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Goetz1965

Thats why I'm curious.

I see the scam they try to pull of now - rent is advertised low at 23k - and then the stupids sign the contract and get the TAX and associated duties for guards added - ending with a rent around 29k ... and then its not much cheaper than what I pay now ... 

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Davaoeno
1 hour ago, Goetz1965 said:

I see the scam they try to pull of

 they told me I have to pay 25.760 each month. 

 

Its not much of a scam when they told you right up front what you would pay 

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SkyMan

Did you ask about a HOA dues? That's usually how guards and other common expenses are covered. Usually it's paid by the owners, not  renters. 

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Salty Dog

When I rented a condo, I had to pay some monthly fees in addition to the condo rental. They were outlined in the rental contract though and I knew about them going in.

I paid the owner of the condo the monthly rent.

 I had to pay condo dues and water each month directly to the condo management.

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SkyMan

Is VAT paid on rent?  I thought that was just on retail sales. Nobody ever asked me to pay it but it's been a long time since I rented. 

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Woolf
Posted (edited)
3 minutes ago, SkyMan said:

Is VAT paid on rent?  I thought that was just on retail sales. Nobody ever asked me to pay it but it's been a long time since I rented. 

it is hang on a bit

http://myfinancialcoach.ph/article/rental-income-tax

Quote

Under existing VAT regulations, rental payments exceeding PHP10,000 (US$216) per unit received by landlords whose gross annual rental income exceed PHP1,500,000 (US$32,427) are subject to 12% VAT. If the gross annual rental income is less than PHP1,500,000 (US$32,427), the applicable tax rate is 3%.

 

Edited by Woolf

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lamoe

When I negotiated my rental contract I stipulated he pays all HOA fees - as the reduction for signing 12 mo contract - I do pay water

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SkyMan
2 minutes ago, Woolf said:

it is hang on a bit

Then I would demand an official receipt so you know the VAT isn't going in someone's pocket. 

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Woolf
7 minutes ago, SkyMan said:

Then I would demand an official receipt so you know the VAT isn't going in someone's pocket. 

Yes

There is a difference renting from a private person and renting from a company, apparently 

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Goetz1965

When I visited the townhouse I could only talk on the phone to someone at the office.
They told the rent is 25.760 per month, and when I asked about additional costs they only told me "you have to pay the guards".
I live here 4 years now and I already know all the pits a lessee can fall in.
I also told them that I would rent from jun1 onwards and like to have a 2 or even 3 year contract.

Now they send me the contract, standart 1 year, only 23000 ex VAT and a sentence telling "lessee pays all additional cost occuring". But those are not stated explicitly.

I just thought that the guards will sure be around 3K a month - that way I would end not much cheaper than IM now - and that makes this townhouse uninteresting.

I will send them another email asking explicit for the HOA dues and  a longer contract - lets see if they are willing to move a bit.

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