Introduction: Renting in Makati – What You Need to Know
Makati City remains one of the most sought-after locations for renters in the Philippines. As the country’s financial hub, it offers prime residential options, proximity to business districts, and access to top-tier amenities. Whether you’re a young professional, an expat, or a family looking for a home, renting in Makati requires careful preparation, especially when it comes to documentation.
Landlords and property managers have strict requirements to ensure tenants are financially capable and trustworthy. Without the right documents, you might face delays or even lose your preferred unit to another applicant. Understanding what you need ahead of time will make your apartment hunt more efficient and stress-free.
This guide will cover all the essential documents you need to rent an apartment in Makati, why they matter, and how to prepare them properly.
Why Makati’s Rental Market Has Strict Requirements
Makati’s real estate market is highly competitive. With high demand for residential spaces, landlords often implement strict screening procedures to select reliable tenants. Property owners want to ensure they rent out their units to individuals who can consistently pay rent, abide by house rules, and maintain the property’s condition.
Another reason for stringent documentation is security. Some condominiums and residential buildings in Makati have tight security policies requiring proper tenant identification. These measures protect both property owners and tenants, ensuring a safe and orderly living environment.
Primary Documents Needed for Renting an Apartment in Makati
Valid Government-Issued Identification (ID)
A valid government-issued ID is required to verify your identity. Most landlords and property managers will ask for at least one or two IDs before finalizing a lease agreement.
Accepted IDs include:
- Passport (for foreign tenants and expats)
- Philippine Driver’s License
- Social Security System (SSS) or Unified Multi-Purpose ID (UMID)
- Professional Regulation Commission (PRC) License
- Postal ID
- Voter’s ID
- PhilSys National ID
A photocopy of your ID is typically submitted along with your rental application, but landlords may also ask to see the original for verification.
Proof of Income or Financial Capacity
One of the most critical documents landlords require is proof of income. This assures them that you can afford the rent and pay on time. If you’re renting a high-end condominium in Makati, you may need to prove a stable and sufficient income source.
Common proof of income documents include:
- Latest payslips (usually the last three months)
- Certificate of Employment (COE) stating your position, length of employment, and monthly salary
- Bank statements (last six months)
- Income Tax Return (ITR) for self-employed individuals and freelancers
- Business registration and financial statements (for business owners)
For expats, some landlords may request a contract from your employer or a work permit from the Philippine government.
Letter of Guarantee or Sponsorship (For Expats and Students)
If you are a foreigner renting in Makati, some landlords may require a letter of guarantee from your employer or sponsor. This letter confirms that your company or sponsor will ensure timely rent payments. Students renting an apartment may also need a financial guarantor, usually a parent or guardian.
Proof of Employment or Business Registration
Landlords may ask for additional proof of your employment or business, particularly for tenants who are self-employed, freelancers, or business owners. This can be in the form of:
- A business permit or DTI registration (for sole proprietors)
- SEC registration documents (for corporations and partnerships)
- Audited financial statements
- Work contracts or service agreements (for freelancers)
These documents provide further assurance that you have a stable income and can meet rental obligations.
Rental History and References
Some landlords or property managers request information about your previous rental history, especially if you’ve rented in Metro Manila before. A rental history report or references from past landlords can demonstrate that you have a good track record as a tenant.
Documents that may be required include:
- Rental payment receipts from your previous apartment
- A reference letter from your previous landlord stating that you paid rent on time and maintained the unit well
Having good references can make a strong impression, particularly if you’re competing for a highly sought-after unit.
Lease Agreement and Contract Signing
Once a landlord approves your rental application, you will need to sign a lease agreement. This legally binding contract outlines the terms and conditions of your tenancy. It is crucial to read and understand the lease before signing to avoid future misunderstandings.
Key details in a lease agreement include:
- Rental price and payment terms
- Duration of lease (e.g., 6 months, 1 year, or more)
- Security deposit and advance rental payment
- House rules and restrictions
- Termination and renewal clauses
Ensure you receive a copy of the signed lease agreement for your records. If you have concerns about any clauses, discuss them with the landlord before signing.
Security Deposit and Advance Rent Payment
Most landlords in Makati require a security deposit and at least one to two months’ advance rent before moving in. The security deposit serves as a financial safeguard against property damage or unpaid rent.
Typical payment terms include:
- 1-month advance rent + 2 months security deposit (1+2 scheme)
- 2-months advance rent + 2-months security deposit (2+2 scheme for high-end properties)
The security deposit is refundable at the end of your lease, provided there are no outstanding bills, damages, or violations. Always ask for an official receipt when making any payment.
Proof of Billing Address
Some landlords request a proof of billing to verify your current address. Acceptable documents include:
- Utility bills (electricity, water, internet)
- Bank statements with your address
- Barangay certificate of residence
If you’re moving from another city or province and don’t have a local billing address, you may need to provide an affidavit of residence or a co-tenant’s proof of billing.
Tenant Information Form (For Condominium Rentals)
If you’re renting a condo in Makati, the property management office may require a tenant information form. This document contains your personal details, emergency contacts, and vehicle information (if applicable).
Some condos also require tenants to submit an ID photo and a copy of the lease agreement to grant access to building amenities.
Additional Tips for a Smooth Rental Process in Makati
- Prepare all documents in advance to speed up your application process.
- Request copies of receipts for all payments (security deposit, advance rent, and monthly payments).
- Read and understand your lease agreement before signing to avoid disputes.
- Negotiate rental terms if possible, especially for long-term leases.
- Confirm building policies regarding guests, pets, and maintenance fees.
Renting an apartment in Makati can be a seamless experience with proper preparation. By gathering the necessary documents, understanding lease agreements, and ensuring financial readiness, you can secure your ideal home with confidence.
Whether you’re moving for work, business, or lifestyle reasons, being informed about the rental process will help you find the perfect apartment while avoiding unnecessary hassles.
