QUOTE(priyangaf @ Aug 17 2011, 08:20 AM)
Bro, in my opinion a person who uses LRT to commute will never ever have a budget of 3k level for his housing. your targeted tenants in TS are students and young working personals. do you think they can afford RM 3000 pm?
To pay RM 3000 for rental one should atleast earn RM 9000 -10000 monthly income. Thats the salaries of the expats in Malaysia and I don't think expats will select TS in chow kit for their own stay. Still if they want to stay in this area for any other reason they have many luxurious projects next door. Tamarind, Maple etc or further away they have 100's of MK properties. I am in this business for past 5 years. So I know what I am speaking. these are all my findings.
Expat will look who are the other tenants in the building before they move in, in this case TS will be full of students and young working personals, and may be some middle eastern families too.
Will expats join with them for own stay??
So if you target expats for TS, it is a no go.
In fact no one will like to mingle and stay with noisy students and young working crowd. So for expats defiantly a no go.
Expats will look the area and surrounding too. they do not want nearby LRT's or mamak stalls. They look for their community , high living standards, good amenities and shopping. Thats why lot of expats are moving to Maple, Tamarind and MK nowadays.
Your targeted tenants for TS are students and young working crowd. Just imagine 600+ units full of those crowd...building maintenance will drop dramatically and in long run TS will be another villa putra / puteri with RM 1500 budgeted tenants.
Anyways do let us know your rented price in TS.
Good luck to you.
Seri Maya has a lot of expat from all kind of nationalities and going to work by
LRT, paying for fully furnish unit more than 3K...Don't believe, please call the agent now
QUOTE(airline @ Aug 17 2011, 09:20 AM)
Nope from and SMS from agents read
Students (plenty)
Middle eastern (plenty)
Working people budget 1.8k-2k partly
If u lucky u can get partly furnish like my friend 2.4k
1 unit in Block B rented out partial furnish 2.5K
QUOTE(supersp @ Aug 17 2011, 11:04 AM)
I share the same concerns as you. I got many calls that there are ready tenants from local students or middle eastern students ...
That is the prime reason why i cash out my investments from TS. I am not good in managing these types of tenants ... TS is a mid cost condo, and will remain that way ... Hence, the rental will remain mid range and you get mid range type of tenants (middle eastern students etc) ....Of cos, there will be some exceptions, depends on ur luck ...
Btw, just to share, i know a foreigner fren (not ang mo) who is renting RM2.2k high floor, p/f
what is wrong about Middle Eastern people? They are good paymaster...of course not all
Managing tenant is nothing but spend your time chatting with them.
True, TS will remain as mid cost condo for now and tell me which condo below are not Mid-cost?
Desa Putra,
Suria Jelatek
Seri Maya
Riana Green East
Axis Res
Midfields
Saffron
Tamarind
The Zest
....
All above started with Mid-Cost condo and now you see the subsales price....of course rental never able to catch up with the price..the same for high end condo as well..
Mid range type of tenants NOT equal to Middle Eastern students! The good things about mid range tenants is it is easy to find this kind of tenants...Am i right?
Now, do you feel regret after selling yours knowing that Mah Sing will be in as well? and how much you sell it?
QUOTE(airline @ Aug 17 2011, 11:21 AM)
How much more u guys reckon mah sing will push up titiwangsa sentral
Or cash out now..
if you are thinking too much about it, then CASH OUT now to priyangaf. He is sitting on the fence, eyeing for good deal...
QUOTE(priyangaf @ Aug 17 2011, 09:49 AM)
Bro, to clarify..I am an investor and a foreigner. Over the spam of last 5 years hv brought nearly 10 properties in town for investment and now I am breaking my head to find tenants.
Anyways..leave that apart, to answer your question, yes I can give so many examples for below 2k for a f/f 3 bedder units in town.
Take nearby Viva, Putra majestic, River city, all these condo's fetch very low rentals. I have a known owner in River city..for the past 5-6 months he is searching for a tenant for 2k range.
If you go further away from TS, you will find villa putra , villa puteri and Bistari near PWTC which rented for loads of students and middle eastern families for 1.5k range. those condo's are like hostels now!
bro, to fetch 3k...it is really impossible for low/mid end condo's nowadays ,specially high density condos like TS.
Only high end / luxury condominium's fetch can 3k and above. even Saffron fetching around 2k range.
Added on August 17, 2011, 10:01 amBro, thats right. you have to rent TS either to a student or a middle eastern family. senior office staff or expats wont attract to TS. we all knew this even before investing , right?
Now the question is how much a student can pay pm as rental....and how much rental middle eastern people can afford. and the building maintenance.
middle eastern families have atleast 5-6 persons in their families. and atleast 6 students will stay in one unit.
so..600+ units with each unit 6 persons, it is 3600 people going to live in TS when fully occupied.
The crowd is more than a school/hostel and maintaining the common areas will have a difficult time. and again with all these setbacks it will leave for low rental prices in future. and when you want to sell your property..the nightmare comes. Do investors like to buy hostels??
where are the locations of your 10 properties? Walking distance to LRT? If you meet our criteria, we can help you to find the tenant too. There are no LRT stations for Viva, Putra majestic, River city...so don't expect high rental and liquid ...and villa putra , villa puteri and Bistari near PWTC are old condo especially VPutra/VPuteri is facing the Mayland project, too near to highway...
TS is consider high density? Seri Maya even worse, 1400++ unit, super high den yet command handsome rental and don't expect low den with low price in future...Just look around recently launch condo will tell you something:
M City = more than 1K units
Element by Mayland = more than 1K
Z residence = More than 1K
The Zest, more than TS
Midfields by YTL, more than TS
Parkland more than 4K
M Sental, another high den and affordable residential play...
The positive point of high den is you have lower maintenance cost per month as it is share by all and economic of scale....How much you pay for Tamarind/Saffron/Maple for maintenance ? Min 30 sen and above right? but for some condo such as Desa Putra, Seri Maya, TS, they are paying around 20 sen only... So there is good thing about high den too provided that tenant profile is decent.
QUOTE(priyangaf @ Aug 17 2011, 11:31 AM)
Bro, M Sentral is a different segment than TS. so cannot compare.
It is like we are comparing Maple and Viva. Can Viva fetch a higher price just bcos sitting infront of Maple? No, right?
I think this is the best time for TS sales. sell for 400k range. still you got 150k profit.
In near future TS will have stiff competition with other high end condos around the corner. See Capers, Setia Sky, Vue, M Sentral, mulberry and Fennel going to come up and it is stiff competition for TS.
Can TS survive with all these high end condos?
Just my thought.
True, M Sentral is never equal to TS because:
M Sentral will be developed by Mah Sing whereby TS was developed by Monoland
M Sentral is sitting on Leasehold land whereby TS is sitting on Freehold land
M Sentral will be more den than TS
M Sentral will be selling from 700-800psf whereby TS was selling less than 300psf and subsales around 400++psf
So we cannot compare M Sentral and TS directly but what we can see is the potential of TS after M Sentral kick off. Nobody can deny the knock-on effect from this M Sentral.
and NOW is the BESTEST time to sell any properties and not just TS only judging from shaking global economies and potential our economy heading to south. Of course "Someone" will pick your unit if you are selling dirt cheap! hahahaha
True, TS will compete with other high end condos such as Capers/Setia Sky/Vue and someone also mentioned that TS is mid-cost, so how to compare? Put it this way, TS is cater for mid end tenants whereby others are catered for high end tenant. Others will not be able to compete with TS because entry cost for TS is much much lower than others. Can others rent it out 1.5K per month? I don't think so. if these high end condos are rented out it out 1.5K, they will be bleeding terribly. What I can see is these high end condos will compete among itself first before TS.
This post has been edited by GlobalKL: Aug 19 2011, 07:34 AM