GSIS Now Rents Out Housing Units With Lessee Given Option To Buy

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The Government Service Insurance System (GSIS) is now offering its housing units for lease. Under the scheme, GSIS will rent out its housing units to interested parties who will be given the priority to purchase it any time during the lease agreement.

“Sa ilalim ng programang ito, prioridad ng GSIS ang mga kasalukuyang naninirahan sa residential properties ng GSIS upang magkaroon sila ng pagkakataong maging lehitimo ang pamamalagi doon at tuluyang mabili ang kanilang tinitirhan. Hindi natin hahayaang tuluyan silang mawalan ng tahanang mauuwian lalo na ngayong nasa gitna pa rin tayo ng pandemya,” GSIS President and General Manager Rolando Ledesma Macasaet said.

The program, dubbed “Lease With Option to Buy” (LWOB) Program, offers a lease agreement that will be valid for one year, renewable at the option of GSIS. If the unit is occupied, the occupant will be given the priority to lease with an option to buy the property. If the property is unoccupied, it will be open for rental to anyone who will qualify for the program. To qualify for the program, an interested lessee must be a Filipino citizen who is legally authorized to enter into a lease agreement and financially capable to pay rental obligations.

If lessees will opt to buy the property, they must submit an option-to-buy proposal for approval of GSIS. The purchase amount is equivalent to the current market value of the property at the time of approval or any offer received for same property, whichever is higher.

“Prospective lessees only need to submit a properly accomplished application form and two valid government-issued identification (ID) cards,” Macasaet added.

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