CENTURY PROPERTIES Group, Inc. (CPG) said it has helped its condominium unit owners generate over P448 million in rental income last year through its professional asset and leasing management service.
The listed property developer said it had established Siglo Suites after seeing the need of its condominium owners for a service to help them lease their units and handle day-to-day maintenance.
“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,” Jaime Navarro, Siglo Suites’ head of sales, unit management and marketing, said in a statement.
Mr. Navarro said Siglo Suites generated and remitted P448 million in rental income to condominium unit owners, 23% higher than the P365 million posted in 2018.
Broken down, P78 million came from short and mid-term leases of units and P370 million was generated through long-term lease of units (12 months and up).
Siglo Suites can take over the unit from the point of turnover, including furnishing the unit, managing bills and handling maintenance work. It helps craft marketing strategies for short-term, medium-term and long-term serviced stays for unit owners.
At present, Siglo Suites handles over 1,500 units in Makati City (The Milano Residences, The Gramercy Residences, The Knightsbridge Residences); Mandaluyong City (Acqua Private Residences); Parañaque City (Azure Urban Resort Residences); and Quezon City (The Residences at Commonwealth).