Owning a condominium property in the Philippines can be one of the better investments out there for those who are looking to grow their passive income. With the rental property market on the upswing, one can enjoy a good return of investment from short or long-term leasing. However, it can be a challenge to manage a rental property or a future retirement home if the owner is overseas or too busy to handle all the legwork personally.
Learning about the urgent need of its condo owners for professional asset and leasing management services, the listed Philippine real estate developer Century Properties Group established Siglo Suites in 2015. The goal of extending the after-sales service is to help Century clients realize the value of their investments by helping them lease out their units, handle day-to-day maintenance, and give the proper advice on what needs to be done to keep their units in excellent condition.
Siglo Suites can take care one’s unit from the point of turnover. This includes setting up and furnishing the home, managing bills, and handling of unit repairs and other maintenance works. Further, Siglo Suites acts as a reliable partner of unit owners by offering effective marketing strategies for short-term, medium-term and long-term serviced stays for them.
“Century Properties’ commitment to its clients doesn’t end after the turnover of units. It is a long-term service that works to preserve the value of their homes and give good returns through Siglo Suites,” said Jaime Navarro, Siglo Suite’s head of Sales, Unit Management, and Marketing.
Siglo Suites currently handles over 1,500 units in Makati City (The Milano Residences, The Gramercy Residences, The Knightsbridge Residences); Mandaluyong City (Acqua Private Residences); Paranaque City (Azure Urban Resort Residences); and Quezon City (The Residences at Commonwealth).
Century received an overwhelming response from unit owners who availed of the asset and leasing management services. In 2019, Navarro reported that Siglo Suites has generated and remitted Php448 million in rental income to condominium unit owners, a 23% increase compared to Php365 million in 2018. Of the total generated rental income, Php78 million came from short and mid-term leases of units, while Php370 million was generated through long-term lease of units (12 months and up).
Couple Caesar and Julieta Manacsa, unit owners of Century’s the Knightsbridge Residences and Siglo partners since 2015, said they have had a wonderful six years of experience with Century and three years with Siglo Suites: “The income created and managed by Siglo Suites is very satisfying. Repairs to my unit were done immediately and minimized lost time. My unit was back in the market to generate income for me and my family. Very dependable company.”
Raymond Mendez and Aileen Jamoralin, unit owners of Century’s Azure Urban Resort Residences and Siglo Suites partners since 2017, said Siglo Suites’ services perfectly fit their needs as professionals working overseas. “My husband and I live overseas and tend to rely heavily on property management. We needed an efficient and cost-effective property manager to handle our properties 100 percent from unit preparations, maintenance, documentations and law compliance. This company has eliminated all our stress and worries. Staff professionalism and reliability have been outstanding from day 1. This gave us confidence that our property is really in great hands,” Jamoralin said in her customer testimonial.
Francisco Vytingco, unit owner of Century’s Acqua Private Residences and partner since 2017, said: “Siglo relieved me from the stress of worrying about whether or not my unit will be rented out. From day 1 of signing up with them, I can vouch that it is worth it. That experience of easily reaching out to your accounts specialist or anyone who is willing to answer your query with regards to your unit, and the fact that your unit is earning – these are some of the things that make me a very satisfied unit owner. I love Siglo!”