Guide GSIS Ginhawa For All Offer for Members
GSIS GINHAWA FOR ALL – Members of the Government Service Insurance System can enjoy leasing a property with an option to purchase it within the leasing period.
Undeniably, nowadays, acquiring a residential property requires thousands of money. That is the reason why most Filipino families prefer to rent as they don’t have a huge amount of cash for the lot purchase as well as the house construction. Meanwhile, there are entities that provide their members with options.
The Government Service Insurance System, more popularly called GSIS, is one of the state entities in the Philippines with an offer regarding housing options. It has millions of members from across the nation.
Most of the GSIS members are former and current employees of the government. In the country, government employees are mandated to maintain an active membership to the state-run social insurance institution.
With regards to the options available for the GSIS members, aside from the GSIS loans and the GSIS benefits that qualified members may avail, there is also the GSIS Ginhawa For All Lease with Option to Buy or the GFAL LWOB Program.
Under the GSIS Ginhawa For All Lease program, a member may rent out a housing unit of the GSIS. The interested parties will be given a priority to buy the property anytime within the leasing period. The lease agreement is valid for one year but it is renewable at the option provided by the state entity.
Who are qualified to apply for the housing option? Here are the eligibility requirements set under the program:
- a Filipino citizen who is legally authorized to enter into an agreement
- has a regular source of income
There are only a few documentary requirements GSIS Ginhawa For All program application. Furthermore, there are only a few steps in applying for the program.
Step 1
Submit the complete set of documentary requirements for the GSIS Ginhawa For All program application to the GSIS Real Property Accounts Management Department (RPAMD) in the GSIS Head Office or any nearest GSIS branch office.
Step 2
Wait for an update from the GSIS. Once approved, the GSIS will issue a Letter of Approval of Lease with Option to Buy to the qualified lessee for his/her conforme, which is valid for 30 calendar days from receipt.
Step 3
Upon the signing of the lease agreement, you must pay two (2) months advance rental fee and two (2) months security deposit. The payment of the rental and the other fees to the GSIS can be done through any of the following:
- cash
- post-dated checks
- manager’s or cashier’s checks