The luxury real estate market, especially luxury condominium units and house and lot properties for sale, is in demand. Rental rates may have increased in Metro Manila and nearby provinces. You may find luxury condo units for rent in these areas, but they are not affordable if you will be living alone. That’s why the concept of condo sharing became a trend for property seekers.
Condo sharing is a rental setup where two or more renters share one condo unit for rent. Similar to shared apartments, the rent and utility bills are equally split among tenants to make rent more affordable.
Luxury condo sharing is one of the practical ways to live in a condominium unit at an affordable cost. Most condo units offer multiple bedrooms and larger living spaces that can be shared by several persons. If you are an entry-level salary earner who wants to live conveniently in a condo, condo sharing is the one for you!
Here are some things you need to more about the benefits of condo sharing:
The first advantage you can get with condo sharing is by having the potential to save money. You can split the rent and utilities with your roommates instead of paying for the entire condo unit.
This benefit is the primary justification for sharing spaces. You get to pay an equal share of the rent, which lowers your monthly expenses.
If you are living alone, chances are you will be needing to buy furniture on your own. But if you are in a shared condo, you won’t be stressing about it anymore. Another benefit of condo sharing is that condo units are already nearly completely furnished. Since renters switch or transfer residences from time to time, most tenants in a condo-sharing setup do not own furniture.
Various luxury real estate companies, such as Brittany Corporation, offers fully furnished units with new furniture that property seekers don’t need to bring upon moving in.
The horrors of moving into a new city are that you’re all alone and have no one to talk to. But if you are sharing space with someone in a condo unit, you have a greater chance of meeting new people and having new-found friendships! In your shared condo, your roommate and other people within the unit can help you in getting settled and show you around the area.
Having a roommate means you have company, especially in times when you feel lonely. Sometimes living alone in a small luxury condominium unit feels too big. You can also share some of your things with your roommate, especially during emergencies, such as lending outfits if you don’t have anything to wear for an important event for your work, or even in the simple ones like running out of shampoo or soap.
To have a hassle- and stress-free living experience, here are some tips you can follow:
While having a roommate lessens the burden of paying the rent and other expenses, it can also be stressful if you or your roommate don’t turn in their share on time. Splitting the cost of payment has a dangerous con – if your roommate can’t pay their share, you have no choice but to shoulder the balance, messing up your monthly budget.
Make sure you pay your share on time by setting an internal due date for the rent and bills among yourselves before the actual due date. This way, your bills will be paid on time and everyone has already made their share before the actual due date.
Here’s another pro tip to save up on your utility bills: If you’re not using any utility in your space, turn it off. This will help prevent your utility bills from spiking up and you will have an idea and control of how much you spend on it monthly.
Another important tip in condo sharing is to exchange each others’ contact information within the first few days of living together. This tip is crucial so that you can stay in touch and also help you create a line of communication in case emergencies happen during your stay.
You can also exchange emergency contact with your tenants if you’re comfortable with the idea. So that in case an emergency happens to you or them, you can contact your tenant’s emergency contacts and have a secure living experience.
Sharing almost everything with someone in the unit comes with a disadvantage as well. When you’re in a shared luxury condo unit with a roommate, expect that you will have little to no privacy. There will be times when your roommate has a visitor over your unit for dinner or just hanging out. And this will leave you no choice but to have very limited movement inside the unit and wait until they are done for the day.
But condo sharing doesn’t necessarily mean you can’t have your visitors over aside from your renters. Discuss this with your roommate on which days or times you can invite your friends or family members over to your unit.
Create boundaries between you and your roommates on your utilities as well, like electricity, water use, and even cleanliness. Make an assignment of chores by creating a schedule for who will take out the trash each week and who will have visitors.
Unfair usage of common areas is one of the common reasons for arguments among tenants. Set some household rules among yourselves on using the common areas, so that everyone’s privacy is respected and that everyone can have their fair share of usage. Shared areas bring the most convenience to each tenant, so you have to make them accessible all the time.
Ensure that everyone agrees on the household rules and you’re all on the same page to prevent disagreements and misunderstandings in the future.
Living with someone in a shared luxury condominium unit also splits the share of responsibilities of maintaining the cleanliness of the unit. You also help each other in finishing other chores, like cooking, doing the laundry, and others.
However, sharing a unit can be all fun and games until one of your roommates is a trainwreck. You may be even more unfortunate if you end up with a roommate who isn’t responsible enough to handle household chores.
Each tenant is required to have responsibilities in their area. Practice good hygiene habits and ensure that shared areas are clean after use. For common areas like the kitchen, living room, and bathroom, there must be a person responsible for each area. And of course, you must also be responsible for your own area, too. You don’t want your personal space to be the cause of pest infestation in your condo unit, right?
Renting a unit with someone else means instant friendships will be formed. But it also means you need to compromise with their various lifestyles. Talk to them if you share the same pet peeves and ideals inside the unit. If you do, then living together will be a breeze.
For instance, if you work at night but it’s their time to sleep, lower your voice or minimize your noise to prevent waking up your other roommates.
This may be the least of your priorities, especially when you don’t know anyone from your area. But in case you do, consider living with someone you really know — be it your family member or close friend. This way, understanding each other won’t be difficult and you can avoid possible disagreements with any potential roommate.
Now that you get an idea of what condo sharing and its responsibilities are like, it’s time to look for the best condominium unit out there! If you think renting in a shared condominium is for you and you haven’t found one yet, why not check Brittany’s list of luxury condo for sale?
Brittany Corporation offers luxury condominium in Tagaytay, so you can enjoy the cool breeze while living the luxurious condo life. You can also check out our luxury condominium in Davao if you live in the southern part of the Philippines. All of these units for sale are priced reasonably and suitable for your budget!
To know more about us, you can check a previous article or two on our website, Youtube, and LinkedIn from your browser. You may also discuss other terms with us, such as co-owning or buying a luxury real estate property, by contacting us today!
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