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Best Apartments in Makati for BPO and Call Center Workers (Near Offices)

By MakatiApartments.com  |  Updated 2025  |  Category: BPO Worker Guide, Makati Rentals, Apartment Near Call Center Makati

If you work a BPO or call center job in Makati, your apartment location is not just a lifestyle preference — it is a financial and health decision that compounds every single month you make the wrong call.

Here is the situation most Makati BPO workers find themselves in: the job is in Ayala, RCBC Plaza, or the Buendia corridor. The apartment is in Paranaque, Quezon City, or Pasig because the rent is cheaper. The math looks good on paper until you calculate the round-trip jeepney and Grab costs, the midnight rides home after overtime, the energy lost to a three-hour daily commute, and the reality of sleeping until noon after a graveyard shift because you got home at 8 AM after fighting traffic.

This article is the definitive guide for BPO and call center workers searching for the right apartment in Makati. We cover which barangays are closest to which BPO office clusters, what apartment features actually matter for shift workers, how much you save per month by living near your office, and which MakatiApartments.com buildings are best positioned for each part of the Makati BPO corridor.

If you are a call center agent, team lead, QA analyst, trainer, or anyone working irregular shifts at a Makati office — this is written for you.

Quick answer: The best areas in Makati for BPO workers are Brgy. Sta. Cruz (near RCBC Plaza and Pasong Tamo), Brgy. Poblacion (near Ayala Ave and Buendia), and Brgy. Guadalupe Nuevo (for BGC-based BPOs). Furnished studios in these areas start at ₱9,995/month at MakatiApartments.com.

What This Article Covers

1. Why Makati BPO Workers Struggle Most with Bad Housing Decisions
2. The Makati BPO Office Corridor Map: Where the Jobs Are
3. How Your Shift Type Determines What Apartment Features You Need
4. The Real Monthly Cost of Commuting as a BPO Worker in Makati
5. Apartment Features Every BPO / Call Center Worker Should Non-Negotiate
6. Best Barangays in Makati for BPO Workers: Ranked and Explained
7. Salary Reality Check: Can a Call Center Agent Afford Makati Rent?
8. Furnished vs Unfurnished for BPO Workers: Why Furnished Always Wins
9. MakatiApartments.com: The Best-Matched Buildings Per BPO Corridor
10. How to Move to Makati for a BPO Job: 30-Day Plan
11. Common Mistakes BPO Workers Make When Renting in Makati
12. Frequently Asked Questions

1. Why Makati BPO Workers Struggle Most with Bad Housing Decisions

BPO work has a feature that most other employment does not: irregular hours that make every aspect of daily life harder. The morning shift worker competes with rush-hour traffic at 6 AM. The mid-shift worker gets off at 11 PM when public transport is sparse or gone. The graveyard worker comes home at 7 AM exhausted — and then has to sleep through the noisiest part of the city’s day.

In all three scenarios, the person who lives close to the office wins. Not just financially — physically. The BPO worker who walks ten minutes to a job that starts at 7 AM is not fighting EDSA at 6 AM. The one who ends a mid shift and walks home at 11 PM is not spending ₱380 on Grab because there are no jeepneys left. The graveyard agent who finishes at 7 AM and is in bed by 7:30 AM actually recovers before the next shift.

This is why apartment location is, for BPO workers specifically, a tier above what it is for typical 9-to-5 employees. Irregular hours amplify every transport problem. Living close to work does not just save money — it saves your health, your sleep, and your mental capacity to keep performing at work.

The Numbers BPO Workers Rarely Add Up

• Average Grab fare from Paranaque to Makati at 11 PM: ₱300 – ₱450
• Frequency of late-night rides for mid and graveyard shift workers: 8–12 per month minimum
• Monthly Grab spend on post-shift rides alone: ₱2,400 – ₱5,400
• Hours lost to commute per month for a worker traveling 45 min each way: 33 hours
• That is 33 hours per month that could be sleep, study, a side hustle, or family time

Add the daytime commute costs, the food premium from eating out due to exhaustion, and the irregular Grab surges during typhoons or EDSA gridlock — and the “cheaper rent” in a far location becomes significantly more expensive than a well-located unit closer to work.

2. The Makati BPO Office Corridor Map: Where the Jobs Are

Makati’s BPO and corporate offices cluster into distinct corridors. Knowing which corridor your office sits in is the first step to picking the right barangay and building.

This table is the core navigation tool for this article. Find your office corridor in the left column, then trace it to the recommended MakatiApartments.com building. Every recommendation in that column puts you within walking distance or a single short jeepney ride from your office building.

The RCBC Plaza Cluster Is the Most Underserved

One of the densest BPO clusters in Makati sits around RCBC Plaza at the Ayala-Buendia corner — Atos, Infosys, IBM, Concentrix, and others. Workers at these offices are often unaware that Brgy. Sta. Cruz is a ten-minute walk north of RCBC Plaza. Macy Mansion, Tim Building, and Trixie Tower all sit in Sta. Cruz at ₱9,995/month — making them among the best-positioned affordable properties for RCBC Plaza workers in the entire Makati rental market.

The BGC-Side Workers Stuck in the Middle

A large number of Makati’s BPO workforce actually reports to buildings in BGC — Accenture Tower, JP Morgan’s BGC office, Bonifacio Stopover, and others in the High Street corridor. These workers often rent in Taguig, which is expensive, or in distant Pasig and Marikina. The overlooked option is Guadalupe Nuevo in Makati. The Kalayaan flyover connects Guadalupe directly to BGC — ten minutes on foot or five by jeepney. Fortview Tower and Fort Dow Place in Guadalupe Nuevo price at ₱10,000/month for furnished studios. That is Makati-side pricing with BGC-level access.

3. How Your Shift Type Determines What Apartment Features You Need

Not all BPO work is the same, and not all BPO workers need the same things from an apartment. Your shift schedule changes what features matter most.

The Graveyard Shift Is Its Own Category

Graveyard shift workers — typically those servicing US accounts from 10 PM to 7 AM Philippine time — have the most specific housing needs of any worker group in Makati. They need to sleep from roughly 8 AM to 4 PM. This means they need an apartment that blocks daylight effectively, has low daytime noise from hallways and street, and is in a building where the daytime activity of other tenants does not bleed through thin walls.

When viewing a unit as a graveyard worker, visit it at 10 AM on a weekday — the noisiest part of the day for most residential buildings. Sit in silence for five minutes. Listen to street noise, hallway activity, and adjacent units. This is the environment you will be sleeping in every day.

Also check which direction the windows face. East-facing windows bring direct morning sunlight from 6 AM. West-facing ones are fine for daytime sleepers. Confirm whether blackout curtains are installed or whether you can install your own.

PRO TIP: If you work graveyard and view a unit during evening hours, ask the property manager to let you visit again at 10 AM to assess daytime noise. Any reputable manager will say yes. One who refuses is hiding something about the daytime environment.

4. The Real Monthly Cost of Commuting as a BPO Worker in Makati

The table below compares the monthly housing-and-transport cost for a BPO worker living far from the Makati office versus one who lives near it. The scenario uses a mid-shift worker (2 PM – 11 PM) whose office is near RCBC Plaza.

The ₱11,840 to ₱12,040 in monthly savings is not theoretical. It is what happens when you eliminate nightly Grab rides, reduce commute-driven food spending, and cut your daily transport from ₱260 per day to ₱70 per day.

Here is the reframe that matters: a furnished studio at MakatiApartments.com costs ₱9,995 per month. The commute savings alone — before food savings — pay for that rent and leave money over. The net cost of living near the office is negative. You save more than the rent costs.

A BPO worker in a far apartment paying ₱7,000/month in rent but spending ₱12,000/month on transport and extra food has a true housing cost of ₱19,000. A worker in a nearby ₱9,995 apartment with ₱2,500 in transport and food premium has a true housing cost of ₱12,495. The math is not close.

5. Apartment Features Every BPO / Call Center Worker Should Non-Negotiate

When searching for an apartment as a BPO or call center worker, some features are preferences and some are operational necessities. Here is the full list of what actually matters — and why.

WiFi Is Not Optional

Most BPO companies now have protocols that allow or require occasional work-from-home days, especially for agents on APAC or US accounts during typhoons or national holidays. If your office issues a WFH directive and your apartment WiFi is spotty or non-existent, you have a serious problem. All MakatiApartments.com units include high-speed WiFi in the rent. This is not an add-on — it is standard.

The 24-Hour Security Requirement

Coming home at 7 AM after a graveyard shift or 11 PM after a mid shift is a daily reality for BPO workers. A building without 24-hour front desk security means arriving at an unstaffed entrance in the dark. All MakatiApartments.com buildings maintain 24-hour security. There is no gate curfew. You come and go at any hour without restriction.

No Cooking Restrictions

Some Makati buildings restrict cooking to induction cookers only — no gas stoves, sometimes no cooking at all. For BPO workers who eat at non-standard hours and need to cook a meal at 7:30 AM or midnight, this matters. Check the building rules before signing. A unit that prevents you from cooking forces you to buy out every meal, which adds ₱2,000 to ₱4,000 to your monthly food bill.

AVOID: Apartments that prohibit all cooking or have strict quiet-hour policies starting at 9 PM or 10 PM are incompatible with BPO shift schedules. These policies are common in older private-owner buildings. Read the lease rules carefully.

6. Best Barangays in Makati for BPO Workers: Ranked and Explained

Rank 1: Brgy. Sta. Cruz — Best Overall for RCBC and Pasong Tamo Workers

Sta. Cruz is Makati’s most practical residential barangay for BPO workers whose offices cluster around RCBC Plaza, Pasong Tamo Extension, and the Chino Roces corridor. The area has three MakatiApartments.com buildings — Macy Mansion, Tim Building, and Trixie Tower — all starting at ₱9,995/month. The barangay is quieter than Poblacion (less nightlife noise) and has Circuit Mall for groceries and dining, multiple 24-hour convenience stores, and direct jeepney access to Ayala and Buendia.

For graveyard workers, Sta. Cruz is particularly good because the residential character of the area means less daytime street noise than in Poblacion. Upper-floor units in Macy Mansion and Trixie Tower are especially suitable for day sleepers.

Rank 2: Brgy. Poblacion — Best for Ayala Ave and Buendia Corridor Workers

Poblacion is Makati’s most central barangay — equidistant from Rockwell, the Ayala-Buendia corner, Century Mall, and JP Rizal Ave. Workers whose offices sit along Ayala Avenue, Dela Rosa, Paseo de Roxas, or the Makati Ave strip will find Poblacion the closest residential address to their buildings.

The barangay also has the densest concentration of 24-hour restaurants, convenience stores, and delivery options in Makati — ideal for shift workers who eat at irregular hours. Roma Plaza and Osmena Manor both sit in Poblacion at ₱9,995/month.

The one caveat: Poblacion’s nightlife strip (on P. Burgos and the surrounding streets) generates noise into the early morning hours on Fridays and Saturdays. For graveyard workers who sleep on weekend mornings, request a unit facing away from the nightlife streets, or ask for upper-floor units with better sound isolation.

Rank 3: Brgy. Guadalupe Nuevo — Best for BGC-Based BPO Workers

For workers whose offices are in BGC — Accenture, JP Morgan, and the growing cluster of tech and BPO firms in Bonifacio Global City — Guadalupe Nuevo in Makati is the most strategic rental location in Metro Manila. You get Makati-side rent (₱10,000/month for a furnished studio at Fortview Tower or Fort Dow Place) with a ten-minute walk or jeepney ride to your BGC office via the Kalayaan flyover.

Guadalupe Nuevo is also walking distance from EDSA-Guadalupe MRT station — useful on days when you need to travel elsewhere in the metro. The Shangri-La Fort BGC, St. Luke’s Medical Center, and the Guadalupe wet market and commercial strip are all within reach.

Rank 4: Brgy. Pio del Pilar — Best for Greenbelt and Pasay Road Workers

Pio del Pilar sits south of the CBD, near SLEX and the Pasay Road commercial strip. Workers at offices near Greenbelt, Makati Cinema Square, Waltermart, and the southern edge of the Legaspi Village cluster are best served by TRP Building in this barangay. It is quieter than Poblacion and Sta. Cruz — a positive for daytime sleepers — with practical access to SLEX for workers who occasionally travel south.

7. Salary Reality Check: Can a Call Center Agent Afford Makati Rent?

The honest answer is: yes, if you pick the right unit and do the full financial math.

Entry-Level BPO Salaries in Makati (2025)

• Customer service / inbound agent (voice): ₱18,000 – ₱24,000 gross
• Non-voice / back-office / email support: ₱16,000 – ₱21,000 gross
• Technical support agent: ₱22,000 – ₱32,000 gross
• Team leader / supervisor: ₱30,000 – ₱45,000 gross
• Trainer / QA analyst: ₱28,000 – ₱40,000 gross

The 30% Rent Rule and How BPO Workers Can Work Around It

Standard financial advice says spend no more than 30% of take-home pay on rent. For an agent earning ₱20,000 gross (roughly ₱17,000 to ₱18,500 take-home after deductions), 30% is ₱5,100 to ₱5,550. A studio at ₱9,995 is 54% to 59% of take-home — too high by the standard rule.

But the standard rule does not account for commute savings. Let’s run the corrected math:

• Monthly rent near office: ₱9,995
• Monthly transport (short routes only): ₱1,200
• Monthly food (can cook more, buy out less): ₱3,500
• Total monthly housing-transport-food cost: ₱14,695

Now compare the agent who rents far at ₱7,000 but commutes:

• Monthly rent far from office: ₱7,000
• Monthly transport (long commute + night Grabs): ₱8,500
• Monthly food (eating out, convenience food from fatigue): ₱5,500
• Total monthly housing-transport-food cost: ₱21,000

The agent living near the office spends ₱6,305 less per month on the combination of housing, transport, and food — despite paying ₱2,995 more in rent. The total cost of living is dramatically lower when you live close.

The Co-Sharing Option for Lower-Salary Agents

For entry-level agents earning ₱18,000 to ₱20,000 gross, co-sharing a studio or 1-bedroom with a colleague or friend cuts the rent burden in half. At ₱9,995 split between two people, each person pays ₱4,998/month in rent — well within any reasonable budget. Two BPO workers on adjacent or opposite shifts can share a unit comfortably with minimal overlap in sleeping and living schedules.

PRO TIP: Colleagues on the same account team often share apartments in Makati. Talk to your team before signing a solo lease — a shared unit near the office may be available for less than you would pay alone on a cheaper unit far away.

8. Furnished vs. Unfurnished for BPO Workers: Why Furnished Always Wins

For BPO workers specifically, furnished apartments are the correct choice for reasons beyond just cost. Here is why.

You Are Starting a New Chapter

Most people who take a BPO job in Makati are making a significant life move — coming from the province, relocating from another city, or just starting their first professional job. The last thing you need when you are navigating a new shift schedule, a new workplace, and a new city is also managing the logistics of buying and assembling furniture. A furnished unit removes that entire category of stress from your first month.

BPO Contracts Are Not Always Permanent

BPO employment includes probationary periods, contract renewals, account changes, and occasional site transfers. A furnished apartment with a flexible lease term means that if your account gets migrated to a different building or a different company recruits you to a different Makati location, you can move without having to deal with selling or transporting furniture. Flexibility is worth paying for when your employment situation has inherent variability.

The Setup Cost Comparison

An unfurnished studio at ₱8,000/month sounds cheaper than a furnished one at ₱9,995. But furnishing a bare unit to minimum livability — bed, cabinet, ref, AC, basic kitchen — costs ₱40,000 to ₱75,000. At the ₱1,995 monthly difference, you would need to stay 20 to 37 months before the unfurnished option saves you money net. Most BPO workers’ first Makati lease is six to twelve months. The math is clear.

• Furnished unit at ₱9,995: Ready to live in on move-in day
• Unfurnished unit at ₱8,000 + ₱50,000 setup: ₱8,000/month but ₱50,000 out of pocket upfront
• Break-even point for unfurnished: 25 months
• For anyone planning to stay under 2 years: furnished wins financially

9. MakatiApartments.com: Best-Matched Buildings Per BPO Corridor

Here is the complete match between MakatiApartments.com properties and the BPO office corridors they serve. Every building listed below is professionally managed, fully furnished, flood-free, with 24-hour security and no gate curfew.

What Every MakatiApartments.com Unit Includes

• Full furniture: bed, mattress, wardrobe, dining table and chairs
• Air conditioning unit — installed and operational
• High-speed WiFi — included in rent, ready on move-in day
• Flat-screen television
• Refrigerator and basic kitchen setup
• Modern bathroom with water heater in most units
• 24-hour security — guards on duty at all hours, no gate curfew
• Weekly housekeeping for common areas

Rent starts at ₱9,995 per month. Short-term and long-term leases are both available — important for workers on probationary contracts or those waiting to confirm permanent placement. Inquire via Messenger, call 0998-595-2341, or email info@MakatiApartments.com. Messenger response time is typically under five minutes during business hours.

Every MakatiApartments.com building was specifically located to serve the Makati and BGC employment corridors. The positioning is not accidental — it is built around putting workers within walking distance of the offices where they spend eight to ten hours a day.

10. How to Move to Makati for a BPO Job: 30-Day Plan

Moving to Makati for a BPO job is one of the most common transitions in the Philippine labor market. Here is a practical timeline that works.

2 to 4 Weeks Before Start Date: Secure the Apartment

• Confirm your office address and which corridor it falls in (use the table in Section 2)
• Browse available units at MakatiApartments.com — identify which building matches your corridor
• Prepare your documents: valid ID, job offer letter or COE, TIN, emergency contact info
• Schedule a viewing via Messenger — units can be seen in person or via live video call
• Have your move-in budget ready: first month rent + 1–2 months deposit + advance
• Sign the lease and confirm your move-in date

Move-In Week: Get Settled Fast

• Arrive on move-in day with your cash, IDs, and signed requirements
• Do a full unit inspection on day one — photograph everything, share to Messenger with the property manager
• Connect to building WiFi immediately — get your WFH setup ready even if the office is close
• Register your Meralco account if the unit uses a direct meter
• Buy initial groceries — stock for two weeks, cook at home for the first pay period
• Do a dry run of your office commute at the actual time you would leave for your shift

First Month: Financial Discipline

• Track every expense for 30 days — transport, food, utilities, miscellaneous
• Open a bank account near your building if you don’t have one (BDO, BPI, Metrobank all have Makati branches)
• Set up GCash or Maya for cashless payments and Grab top-up
• Build a ₱5,000 to ₱10,000 emergency fund before your first major purchase
• Review your first month’s total spending — adjust the second month based on what you actually spent vs budgeted

11. Common Mistakes BPO Workers Make When Renting in Makati

Mistake 1: Choosing Rent Price Over Location

The cheapest rent in Makati is not always in a bad area — but when a very low price comes with a far location, workers pay for it every month in transport. A ₱7,500 unit in Bangkal versus a ₱9,995 unit in Sta. Cruz sounds like a ₱2,495 monthly saving. Add ₱5,000 in extra transport for a worker who goes to RCBC Plaza and the Bangkal unit costs ₱5,000 more per month in reality.

Mistake 2: Not Checking the Gate Policy Before Signing

Some private residential buildings in Makati have gate curfews — the front door locks at 10 PM or 11 PM and requires buzzing the guard to enter. For a mid-shift or graveyard worker, this is a daily friction point that compounds over months. Always ask explicitly: is there a gate curfew? Can I enter the building at 7 AM or 2 AM without calling someone? Managed buildings like MakatiApartments.com have 24-hour staffed entry with no curfew.

Mistake 3: Signing a Long Lease During Probation

BPO probationary periods in the Philippines are typically three to six months. Signing a twelve-month lease before you pass probation is a financial risk. If the account is cancelled, the company downsizes, or you do not pass regularization, you are locked into a lease. Either negotiate a six-month initial lease, or ensure the early termination clause is not punishingly expensive.

Mistake 4: Not Verifying WiFi Speed Before Move-In

“WiFi included” means different things in different buildings. Some include a 5 Mbps plan that is fine for browsing but unable to support a Teams or Zoom call if you get a WFH day. Before signing, ask the property manager for the internet plan details — provider, speed tier, and whether it is a shared building connection or a dedicated unit plan. For BPO work, you need at least 25 Mbps dedicated, or a plan you can upgrade if needed.

Mistake 5: Viewing Units Only on Weekends

Weekend viewing does not tell you what the unit is like on a Tuesday at 3 PM when the building is full of day-sleeping night shift workers and the garbage truck idles outside. For the most accurate read on noise, ventilation, and livability, view on a weekday during business hours — or ask to come back for a weekday visit after an initial weekend showing.

IMPORTANT: The biggest recurring regret from BPO workers who rent in Makati is not being close enough to their office. Almost no one regrets choosing a closer unit that costs slightly more. Many regret choosing the cheaper one that costs them sleep, health, and thousands in transport every month.

12. Frequently Asked Questions

Direct answers to the most common questions from BPO and call center workers looking for apartments in Makati.

What is the best apartment for a BPO worker on a ₱20,000 salary in Makati?

A furnished studio at ₱9,995 to ₱10,500 per month is the right fit. At that price, rent is under 50% of take-home pay — and the commute savings from living near your Makati office bring your total housing-transport cost well below what you would pay in a cheaper-but-farther unit. MakatiApartments.com has studios at that starting price across multiple buildings near the major BPO corridors.

Is it safe to walk home late at night in Makati near BPO offices?

The areas around Makati’s major BPO corridors — Ayala-Buendia, Sta. Cruz, and Guadalupe Nuevo — are among the most well-lit and patrolled parts of Metro Manila at night. 24-hour convenience stores, security guards from neighboring buildings, and active foot traffic from shift workers make the main streets reasonably safe. Standard precautions apply: stay on lit streets, be aware of your surroundings, and keep valuables out of sight. The walk from RCBC Plaza to Sta. Cruz at midnight is a route many thousands of Makati BPO workers make regularly without incident.

Do MakatiApartments.com buildings allow roommates?

Most units accommodate two occupants, which is the standard co-sharing arrangement for BPO workers who want to split rent. Confirm the specific occupancy limit for the unit you are viewing — some studios have single-occupancy rules. For pairs, a 1-bedroom unit starting at ₱14,000 split two ways gives each person a ₱7,000 monthly rent burden and a dedicated sleeping area for day sleepers on different shifts.

How long is the minimum lease at MakatiApartments.com?

MakatiApartments.com accommodates both short-term and long-term leases. For BPO workers on probationary contracts, a six-month initial lease reduces your risk significantly. Contact the property via Messenger or call 0998-595-2341 to confirm current minimum terms for specific buildings and units — this varies by property and availability.

Can I use the apartment address for official documents like SSS and Pag-IBIG?

Yes. Your lease contract and a valid ID are sufficient to update your address on government records. SSS, PhilHealth, and Pag-IBIG all accept a lease contract as proof of address. Your HR department will guide you through the formal enrollment process for your new employer. Having a stable, verifiable Makati address also simplifies any future credit applications or government transactions.

What happens if I need to leave Makati before my lease ends due to a job change?

Your lease contract’s early termination clause governs this. Most Makati apartments require 30 to 60 days written notice and a penalty equivalent to one to two months’ rent, or forfeiture of the deposit. If you are on a six-month lease and leave after three months with one month’s notice, you typically forfeit one month’s deposit. Always read this clause before signing. MakatiApartments.com’s staff can walk you through the specific terms before you commit.

Final Word: The Best Decision a Makati BPO Worker Can Make

The BPO and call center industry in Makati is one of the most demanding work environments in the country — not because the work itself is necessarily hard, but because the hours, the shifts, and the pace of the industry leave very little room for wasted time and energy. Every hour you spend on a jeepney or in a Grab at midnight is an hour you are not sleeping, not resting, not building a life outside work.

The apartment decision is the one variable in your daily life that you control completely. Choose a unit that is close to your office, in a building that works with your shift schedule, managed by a team that is accountable, at a price that leaves you room to save.

MakatiApartments.com has eight buildings positioned across the four most strategically useful barangays in Makati for BPO workers — Poblacion, Sta. Cruz, Pio del Pilar, and Guadalupe Nuevo. Studios start at ₱9,995. All units are fully furnished with WiFi, AC, and 24-hour security. No gate curfew. Flexible lease terms.

If you work a BPO or call center job in Makati and are still commuting more than forty-five minutes each way, this month is the right time to do the math and make the move.

Contact MakatiApartments.com via Facebook Messenger for a response in under 5 minutes. Or call 0998-595-2341. Schedule a viewing, ask about availability for your specific start date, and get your documents ready. Your commute ends the day you sign the lease.

MakatiApartments.com  |  Poblacion • Sta. Cruz • Pio del Pilar • Guadalupe Nuevo, Makati City, Philippines

info@MakatiApartments.com  |  0998-595-2341  |  (02) 8896-33-65  |  (02) 8897-08-60

Rent from ₱9,995/month. Fully furnished. Flood-free. 24-hour security. No gate curfew. Short & long-term leases.