How I Learned the Hard Way About Rent-to-Own Condos: My DMCI Homes Orabella Story

How I Learned the Hard Way About Rent-to-Own Condos: My DMCI Homes Orabella Story

A “Rent-to-Own” or “Lease with Option to Purchase” deal sounded like the perfect shortcut to owning real estate—until it wasn’t. Here’s the saga of how I dove headfirst into DMCI Homes’ Home Ready™ program, spent nearly ₱87,000 in up-front fees and deposits, and ended up locked out of my own unit.  

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1. The Tempting Pitch (2020)

It all began in 2020, when my agent showed me The Celandine in Balintawak. Her spiel was irresistible:  

- Move in for less than ₱100,000  

- Pay “rental” that later converts to equity  

- Own the unit outright at a locked-in price  

Pandemic panic set in, and I backed out. No regrets—yet.  

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2. Round Two: Fairlane…No, Orabella (April 2024)

Fast-forward to April 2024. I wanted a second property for Airbnb income, ideally on an “assume balance” scheme. Fairlane Residences in Pasig? Too pricey and too far. Then came Orabella Project 4 in QC:  

- 32 sqm with 1 bedroom, spacious living area, wide balcony, kitchenette space, roomy bath  

- Resort-inspired amenities: pool, gym, roof deck, entertainment room  

- Optional parking slot  

A video tour sealed the deal. I committed, paid the ₱22,000 unit reservation fee, ₱7,000 for parking, and ₱58,000 advance deposit—a total of ₱87,000.  

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3. Home Ready™ by DMCI Homes: The Fine Print

Here’s what the program promised:  

- 60% of your lease payments go toward your 10% down payment  

- Price Protect: your purchase price is locked in, no future increases  

- Instant move-in, free property evaluation  

Sounds fair. But I skimmed the default clauses, which read:  

- 7th day late: Utilities disconnected, amenities suspended  

- 8th day: Notice to vacate  

- 15th day: Unit padlocked, account cancelled  

- 30th day: Your assets can be removed or disposed  

No grace periods. No extensions.  

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4. When It All Came Crashing Down

After turnover, I rushed to renovate and furnish for Airbnb. The first few months were stable—but come September, bookings slumped and my payment due date arrived.  

I submitted a check for September rent—but my staff used the wrong date format. Two weeks later, I learned the check bounced. The leasing department:  

1. Refused my partial payment  

2. Disconnected water and electricity  

3. Padlocked the unit with a Notice to Vacate  

They wouldn’t let me retrieve my belongings. They demanded ₱56,000 (late fees plus October’s rent) before reconnecting utilities or unlocking the door. Every day my items stayed inside, penalties piled up.  

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5. Why I Feel Cheated

- No mercy clause: A simple date error snowballed into lock-out.  

- Belongings held hostage: My furniture and appliances became collateral.  

- Sky-high penalties: Every passing day inflated my debt.  

If this was my personal residence, I’d be living on the street—literally.  

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6. What I Should Have Done

1. Read every clause—especially “default” and “penalties.”  

2. Compare real costs: RTO premium vs. Pag-IBIG or bank financing.  

3. Ask about grace periods: Never assume they exist.  

4. Confirm Airbnb rules: Check if short-term leasing is even allowed.  

5. Get everything in writing: Email proof of deposit terms, cancellation policy, utilities-reconnection policy.  

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7. Next Steps & Legal Advice Needed

I’m ready to forfeit my ₱87,000 if it means walking away clean. But I refuse to let them squeeze more penalties out of me while my stuff sits behind a padlock.  

> Lawyers and property experts: Is withholding personal belongings legal under a signed, notarized RTO contract? What recourse do I have?  

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8. Final Thoughts

This isn’t an attack on DMCI Homes—they’ve been solid on my other property at The Celandine. But this experience taught me:  

> Impulsive real estate decisions can cost you more than money—they can cost your peace of mind.  

If you’re considering any rent-to-own scheme, read the fine print, crunch the numbers, and don’t let glossy marketing blind you. Your hard-earned money deserves better protection.  

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What about you? Have you navigated an RTO deal—good or bad? Share your story, and let’s learn from each other’s wins and missteps.