i'm going to get my condo (3 rooms 2 bath rooms 1100sf) soon from developer. this unit is mainly for rental income purpose. i would like to fully furnish it. this is my first rental unit, never done this before, i can only think of the following:

washing machine - rm1000
fridge - rm1000
air cond 2 units - rm2000
dining table set - rm500
sofa set - rm500
cupboard - ?
bed - ?
tv - ?

i'm trying to list out all the items potentially needed and the budget for it, can anyone enlighten me?
thanks

This post has been edited by vdfoo: Jul 18 2010, 02:47 AM

Visit jusco~! prepare 10k only, is enough!
if u really wanna save money, try search from reject shop. many chair or table berapa ringgit saja.

This post has been edited by WKWebsite: Jul 18 2010, 03:01 AM

u get exp item

then u rent out ?

then second hand items?

This post has been edited by vdfoo: Jul 18 2010, 03:37 PM

mind sharing which condo is handing over keys? ur specs really suit something i like. can pm if u dun mind. thz
and congratz on new house.

PMed

Rent it out un-furnish.... save the hassle....

Maybe you should go for air-cond,washing machine,and dining table..

The rest the tenant might sord it out to save you hassle...

yeah...thats what property guru advice too. but considering this is my first unit, i dont have other properties to take care of, i dont mind have a little hassle to earn extra rm300-rm500

re-calculate again.... Its not about free or not free... its about return of investment... If ur TV + fridge + sofa + etc etc got damage and have to repair.. or even hav to change it after a few years because of wear and tear, is extra few hundred bucks worth it? .... And you also don't know how well your tenants will take care ur stuff... After that, you sell it 2nd hand with lower price because these are depreciating items...

I would save up that RM10k as a downpayment for my next property..... property are appreciating asset compare to TV....

IMHO ... renting to high class expat in MK with full furnish make more sense then just renting out to middle class group...

Its up to you.. Gurus tell you because they have been thru...

This post has been edited by eugene jk: Jul 18 2010, 11:29 PM

noted, thanks for the advice

electrical appliances and personal stuff should be made minimum. since the tenants might already have those items or might not even use it.

im not sure if air-con is needed, but that depends on your targetted market, if it's student, no doubt it'll be an good point, but they seldom use it due to the high electricity cost.

and i didn't see water heater in the list, or is it already included.

cupboards,tables and bed is definately a plus, since you probably wont be moving those big stuff around. but keep those to a minimum as well, some people do bring those along.

go to carrefour/jusco and have a look at the furniture and electrical sections.

Furnishing an apartment depends on the type of market. For example, you would furnish the materbed room for parents and other two room for kids (equip with study table). However if a lot of expat rent the area you will furnish it differently.

you may want to use your old furniture and fittings for the condo and buy new ones for yourself cos your tenant will surely NOT take care of your stuff.

here're some of the stuff that i think you will want to add for a typical rental residence.

-water heater
-dining table(or foldable table for dining)
-study table/computer table(2~4 )
-sofa(get a cheap L-shape sofa, i think it should costs about rm450 for a cheap one. the sofa shape depends on the design of your house, you might wanna get an I-shape sofa instead)
-some chairs around the house(~5)
-washing machine
-bed(just the frame, mattress is not needed. depending on your market, you might want to get a double-decker)
-TV set? (optional, even it you want to add 1 in, if shouldn't be an expensive one, the tenants wont take care of it. )
-TV stand(yea, for the TV if you opt to get a TV)
-others(depending on the norm of your area)

go around your area and look for some room/house to let notices, call them up and ask for information on facilities(dont tell them you are renting a house as well, just say you are interested in knowing the facilities provided). you'll get a rough idea on what other provides.


This post has been edited by LovesReborn: Jul 19 2010, 10:58 AM

I think we shouldnt generalize every situation. I just recently learnt 1 of the so called guru who claimed he has a RM22mil portfollio, only PARTIALLY owns that 22mil portfolio and used his clueless students to fund and become borrowers of his purchases. Also, how many of these guru's rented their residential units recently to actually qualify advising other on what to do?? Last I check, everyone seems to be focusing on commercials?? Bottomline, not all "guru's" are honest, know what their talking about and they dont know everything.

But you r rite that we should measure furnishing cost and ensure that the ROI is worthwhile. Personally, I would ensure that my furnished rent premium will ensure that I breakeven within 24 months, else I'll just rent it bare.

I've once furnished a 3 bed condo for less than 5k, and been collecting additional premium of RM300 p/m for 3 years now. If I mantain current rents and my furnitures can last me another 2 years before I replace them, I'll stand to make total gains of RM18k VS my initial 5k investment........thats more than 300% in 5 years..........

Furnish or x, it depends on the rental rate.

I’m thinking of using Ezipayment credit card 0% interest scheme to furnish investment prop.

Let say rental rate u expected is rm1500 for f/f. mthly instalment to bank is rm900. then u have buffers for ur instalment on furnishings. Dun forget mthly maintenance, assessment, misc fee as well. If u budgeted for rm10k, then try search for 24-month instalment (free interest). The tenancy agreement period must duly follow the period, if u can. Your rm10k of savings can stay in fixed deposit.

Lots of variables here (plus discipline); make sure u got it right and allow some buffers.

is it MD u'r toking about, pai kor? m immune to his ranting n chanting like a tape recorder..commercials, commercials, comercials, like the many units he claimed to own in BTS. i agree that prop gurus actually 'sell' the bones to their students after consuming the choiciest flesh. there r a few more n among them is a dr. quack who speaks excellent engrand n toks about auction prop. he can kautim 4u if u'r into auction props but u need 2 pay him tuition fee + commission for securing it 4u. most of them also claim to be able to get very good group n early bird discount from developers..but small n unknown ones only lah..again they will never reveal the true discount coz they also take a cut from u. so if into prop u/c by reputable developer, u r on ur own.

coming back to furnishing an apt for rental, i would give priority to areas where hacking or hammering (nails) are required such as installation of air cond, grill, water heater, curtain railing/track or even a basic kitchen cabinet. surely u dun wanna regret later when u see unwanted n unsightly holes appearing conspicuously. so far, i have never spent >rm10k to partially furnished my prop. u dun have to come out much with ur own money. u can get part of the funds to furnish the unit from the 2 months rental deposit, 1 month advanced rental n 1 month utility deposit. total = 4 months rental!

Yup its MD, and is Dr Quack == Peter Yee (PY)?

Btw meet with PY few months back and guess what he advised me?

"Dont buy so much highrise as yields are only so-so and has no capital appreciation prospects" .....................

He has obviously never invested in studio's and med sized highrise. Casa Mutiara, Maytower, Amcorp, M&D + W&W in Hartamas all doing double digit yields and close to 100% or more appreciation esp for 1st buyers. Had I meet him before I started investing than I would have probably lost few hundred thousand in gains and cashflow for following this guru's wrong advise.

Btw how much does Dr.Quack charges for securing an auction prop? Not surprised if MD's chanting the commercials song now when all his high end residentials investment now not doing great................

that's right, its py. i asked him to elaborate (about auction props n his comm cut) but told me to pay tuition fee n attend his workshop at 1 of the auction props he bought somewhere in selayang, i think. so 1 seminar leads to another. if that's not enuf he will advise u to buy his fresh from the oven books. luckily the seminar (millionaire convention thingy) which i attended was heavily discounted.

u should be py's sifu reaping so much from high rise in so short a time..

even hcs still can't make up his mind..keeps shifting the lcg from kinrara to pj state..to ???? think better to consult paul the sotong to pin point which prop to parang before it r.i.p. in 6 mths time.