The Government Service Insurance System (GSIS) is now offering its housing units for lease, the state-run pension fund announced on Wednesday, July 21.
Under the program "Lease With Option to Buy" (LWOB), 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.
"Under the program, GSIS will prioritize the current residents of GSIS residential properties so that they will have the opportunity to legitimately stay there and finally buy their place of residents. We will not allow them to lose their homes forever especially now that they are in the middle of a pandemic," GSIS President and General Manager Rolando Ledesma Macasaet said.
GSIS offers a lease agreement that will be valid for one year with a renewable option.
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.
Meanwhile, if a lessee opts to buy the property, they must submit an option-to-buy proposal for approval of GSIS.
"Prospective lessees only need to submit a properly accomplished application form and two valid government-issued identification (ID) cards," Macasaet added.