GSIS offers 'lease with option to buy' housing units to members, non-members

The Government Service Insurance System (GSIS) is offering its housing units for "lease with option to buy" to members, as well as non-members, valid for one year amid the COVID-19 pandemic.

Interviewed at the Laging Handa briefing on Tuesday, GSIS Real Estate Asset Disposition and Management Office (READMO) vice president Apollo Escarez said the “Lease With Option to Buy” (LWOB) program is initially offered to those residing in GSIS properties but failed to pay their housing loan.

"Sa ilalim ng programang ito, magiging lehitimo ang kanilang paninirahan sa properties ng GSIS (Under this program, occupants who are behind their payments will be able to legitimize their stay at the properties of GSIS)," he said.

Escarez said the properties include those previously foreclosed by the agency and those subject to housing loan on installments.

"Sa halip na padalahan namin sila ng notice o sampahan ng ejectment case, bibigyan natin sila ng pagkakataon na mag-lease with option to buy (Instead of issuing them notice or file an ejectment case against them, we will give them a chance to lease the property with an option to buy)," he said.

Non-members could also apply for the program, Escarez said.

"Kung hindi miyembro ng GSIS tapos may nakita at nagustuhan sila na bakanteng property na residential ng GSIS, pwede sila lumapit sa aming tanggapan, mag-alok na i-avail 'yung lease with option to buy," he said.

(If they are not GSIS members and they find a vacant residential property of GSIS that they like, they can go to our office and offer to avail of the lease with option to buy program.)

Any Filipino citizen who has a regular source of income can avail of the program.

While the lease agreement is valid for only one year, Escarez said this is renewable depending on the performance of the lessee.

Those intending to renew should inform the GSIS three months before the expiry of the contract.

Occupants have an option to buy the property as long as the contract is in effect, said Escarez.—AOL, GMA News