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Investment THE ARC@CYBERJAYA [OWNERS' THREAD], Developer of Cova KD goes BIG

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taufufa
post May 11 2011, 09:43 PM

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I met one of the sales agent yesterday and i managed to dig some interesting fact. For those who planned to invest on this project, you can forget about it. Let me top up something that edmund has missed out. The 8% of 25yrs contract they promised got max rate which is only 10%. Even the economy is damn good and the rental keep on appreciating but still you can get is 10% max from the first day you bought from developer. Do bear in mind maintenance fees will keep on increasing from year to year. But your rental is still maintain. One day you will find your rental is not enough to cover your monthly installment. What to do next? Plan to sell it? Do you think any investor will buy a property where the sales price already increased but only can get same rental from the day you bought? Well, im not saying they cheating, but 100% sales agent wont disclose until you keep on asking and asking.
taufufa
post May 11 2011, 11:41 PM

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QUOTE
i have the same concern as you as well, but what the sales folk told me is that, the existing contract of 8% meant for first 4 years, and the subsequent 4 years have 8 to max 10%. So for our third 4 years renewal, it should be based on market rate alridi. meaning the developer most likely will earn more on our second 4 years, since we are capped on 10%, but on the third 4 years onward, we should have an upper hand. else i dont think i want to consider this project at all in the first place.

i've yet to see the terms & conditions. so far it's verbal said by the developer only. the signing of S&P has been postponed again (supposingly this week). hopefully they'll come out with something more attractive, and not something stupid like on the third 4 years, we are still capped at 10% only. then, this is a real CON case already. else, i think it's fine.


Im very sure the sales girl told me max 10% for 25yrs. Unless herself also not so sure and gave me the wrong info. That's why straight away i turned down and look for other places. Tomorrow i will call their office again to confirm about this.

 

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