Over 12,000 GSIS Acquired Assets For Lease With Option To Buy (Rent To Own) available as of February 26, 2025. This is a huge list but only 2,850 are unoccupied. Details below.
All GSIS LWOB or Lease With Option to Buy List of Properties (Database)
For easy searching and filtering, I have uploaded all the GSIS properties that are for Lease With Option to Buy into my database. To view the list, click on the button/link below.
This includes both occupied and unoccupied properties.
How to exclude “Occupied” properties
I always say you should avoid occupied foreclosed properties, so here’s a link that only includes those that are “Unoccupied”, according to the list from GSIS.
Reminder: When a property is listed as “unoccupied” that only means it was unoccupied when they last inspected it. It is possible for Illegal occupants to enter a property later if it is not secure.
View/download GSIS Acquired Assets For Lease With Option To Buy (PDF)
If you prefer to view/download the listings in PDF format, they are available below, which are 4 separate lists for NCR, Luzon, Visayas, and Mindanao.
Note: If your web browser cannot display the contents of the PDF file below, you can just download the file and use your preferred app to open PDF files like Adobe Acrobat Reader, etc.
NCR
Luzon
Visayas
Mindanao
Reminder: If you download the PDF file, you will need Adobe Acrobat Reader to open it, which is free to download at Adobe.com. You may also use other apps/software to open PDF files.
Is the GSIS LWOB Program the same as Rent To Own?
In summary, the GSIS LWOB program offers a Rent To Own scheme for their acquired assets/foreclosed properties.
This means more manageable payments (less chance of getting foreclosed again).
It also provides a legitimate path to ownership for the occupants of GSIS foreclosed properties, I just hope this isn’t abused.
To learn more about the GSIS LWOB program, check out the following video:
Why Rent When You Can Own? (Testimonial)
Here’s a short video testimonial from Mabel Perez from the UP College of Law. She was able to secure a house through the Lease With Option to Buy(LWOB) program of the GSIS.
Looking for GSIS Foreclosed properties for sale?
GSIS foreclosed properties for retail sale are also available and you can find them on the following page:
https://www.foreclosurephilippines.com/gsis-foreclosed-properties-for-sale
Contact Info for GSIS LWOB properties
Interested parties may contact GSIS directly to get more details through the following:
For leasing inquiries, you may call the Real Property Accounts Management Department (RPAMD) at trunk line numbers (02) 8479-3600, and (02) 7976-4900 local numbers 3374, 3396, and 3425 and mobile number 0939-986-5962 or send an email at gsisrpamdcst@gsis.gov.ph.
Source: General Guidelines
How to avail the GSIS LWOB?
Here is a summary of the steps to avail a foreclosed property from the GSIS through their LWOB program:
Summary of GSIS Lease with Option to Buy (LWOB) Process
- Application Process:
- Submit a properly completed LWOB Application Form
- Provide required identification (GSIS UMID/eCard, Valid Passport, PhilSys ID, or two other government IDs)
- Submit TIN ID or ITR showing Taxpayer ID
- Provide proof of income
- Approval Process:
- GSIS issues a Notice of Approval (NALWOB) to approved applicants
- Lessee must return the signed NALWOB within 30 calendar days
- Initial Payment Requirements:
- Pay two months advance rental
- Pay two months security deposit
- These payments are made simultaneously with lease agreement execution
- Payment Options:
- Cash (payable at GSIS offices)
- Manager’s or Cashier’s checks
- Post-dated checks
- External payment providers (Bayad Center, M Lhuillier, UnionBank Online, USSC)
- Ongoing Responsibilities:
- Pay monthly rent according to schedule (due on 5th or 20th of following month)
- Pay all utility bills and submit proof of payment
- Pay Real Property Tax as beneficial user
- Maintain premises for residential use only
- Cover expenses related to lease agreement execution
- Option to Buy Process:
- Lessee can exercise Option to Buy during lease term (but not in final 30 days)
- Submit a written proposal to buy the property
- Upon approval, pay the purchase price (Current Market Value or highest offered amount)
- The lease remains in effect until full payment
- Lease Renewal:
- Notify GSIS in writing at least 3 months before lease expiration
- GSIS will respond within 1 month
- If renewed, rent may increase based on market conditions
- Adjust advance rental and security deposit to match new rental fee
- Termination Process:
- Return keys within 10 days of expiration/termination
- Security deposit returned after deducting any unpaid bills/damages
- Advance rental applied to last two months if not renewed
This is just a summary. For complete details, please refer to the general guidelines for the GSIS LWOB below:
Complete General Guidelines for LWOB (PDF)
Source: https://www.gsis.gov.ph/downloads/housing/2024/20240206-LWOB-General-Guidelines_v10.pdf
In addition, here are all available downloads and forms (Guidelines, FAQ, Application Form, and Checklist of requirements) with regard to the LWOB. The links below are direct links to the files on the GSIS website.
How much is the rental rate?
I was wondering why the list of properties had no rental rates included, so I searched and found this in the General Guidelines:
“7. The minimum monthly rental fee shall be based on the comparative market figures and capitalization rate.”
Source: Item # 7 of General Guidelines
I could be wrong, but I believe they (GSIS) will determine the rental rate at the time of availment of the LWOB.
How much will be the selling price for the Option To Buy?
As per General Guidelines:
“Upon approval of the OTB, the lessee shall pay the purchase price in manner provided in policy on disposition of IP-RUs,which is CMV of the property at the time of its approval or any offered amount received for same property, whichever is higher.“
Source: Item # 27 a. paragraph 2 of General Guidelines
But what is CMV or Current Market Value?
“Current Market Value (CMV)–the value of the IP-RU, including the improvements built thereon, if any, determined on an annual basis by the Property Administration Department (PAD) based on recognized modes of real estate appraisal.“
Source: GSIS POLICY AND PROCEDURAL GUIDELINES NO. 304-16
Based on the above, I believe the selling price will be based on the appraised value of the property at the time the tenant/buyer will avail his/her Option To Buy.
IP-RU refers to GSIS Investment Properties – Retail Units, which are the GSIS acquired assets and foreclosed properties for sale.
Is the Option To Buy for cash payments only?
According to Item 27 paragraph a. of the General Guidelines, GSIS members can avail via installment (non-GSIS members can only buy via cash). I have quoted this below for easy reference:
“During this period, and provided that the lessee has no outstanding unpaid rental, he may send GSIS a written proposal to buy the leased premises in installment (for GSIS members) or cash (GSIS and non-GSIS members).”
Source: Item # 27 a. paragraph 1. of the General Guidelines
Actually, this was a big turn-off for me because everyone knows that very few people can afford to pay in cash when buying properties.
Update: Lease With Option to Buy through installment up to 25 years?
A longer payment term of up to 25 years seems to be possible, based on a press release I found at the GSIS website. I’ll quote the relevant portion below:
“Ang installment sale naman ay available sa GSIS members na gustong bumili ng bahay sa ilalim ng programang Lease with Option to Buy o kaya sa public bidding. Ang installment ay maaaring bayaran hanggang 25 years. Kung condominium, ang term ay hanggang 20 years at kung bakanteng lote, 15 years to pay,”
~ GSIS President and General Manager Wick Veloso
Source: Press release – GSIS OFFERS HOUSING LOAN CONDONATION, INSTALLMENT SALE
This is definitely a welcome development! With installment terms of up to 25 years, this means that the monthly payments will definitely be more affordable and manageable!
However, I can’t find any reference to the installment option for LWOB in the latest guidelines/FAQ. So if you are going to avail the LWOB program, please make sure to ask about this.
GSIS LWOB Frequently Asked Questions
Got more questions? Please refer to the list of frequently asked questions about LWOB below:
Source: https://www.gsis.gov.ph/downloads/housing/2024/20240206-LWOB-FAQs-v3.pdf
Additional GSIS LWOB FAQ
I added a few obvious questions that were not answered in the FAQ from the GSIS. Let me know if you have other questions by leaving a comment.
Why are there no rental rates on the lists of GSIS LWOB properties?
The GSIS will determine the rental rate which will be based on the comparative market figures and capitalization rate as per Item # 7 of General Guidelines. Since the list does not include rental rates, it’s either they will provide this when you inquire, or the GSIS will determine this during the time of LWOB availment.
What is the selling price if you choose to buy these GSIS LWOB properties?
For selling prices, it will be the “CMV of the property at the time of its approval or any offered amount received for same property, whichever is higher” as per Item # 27 a. paragraph 2 of General Guidelines. CMV refers to the Current Market Value based on an annual appraisal to be conducted by the GSIS Property Administration Department (PAD). Since the list does not include the selling price, either the GSIS will provide this when you inquire, or they will determine this during the time of LWOB availment.
Search for more foreclosed properties in our database…
You can also search from over 30,000 foreclosed properties in our database.
This includes other banks and lending institutions that have foreclosed properties for sale.
Use this to quickly search for all foreclosed properties in a subdivision, village, condominium project, city, etc.
==> Click for advanced foreclosed properties search
All locations with foreclosed properties by Province/City
You can also browse all locations within the Philippines with foreclosed properties available from ALL banks/lending institutions inside our database, grouped by Province/ City, on this page:
==> Click to browse all foreclosed property locations
Note: The “Foreclosed Properties Database” is a work in progress. If you have comments/ suggestions, please do let me know by leaving a comment below.
Full disclosure: Nothing to disclose, we are not accredited real estate brokers of GSIS. We are sharing this public auction announcement as a form of public service to the general public who might be interested in foreclosed properties and acquired assets from the GSIS. Please contact GSIS directly to inquire, thank you for understanding
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