can i know the avg rentsal there?

Heard some investors bought multiple units and partition into rooms and rent out. Still happen? How the JMC taking action to curb such illegal pratice?

we are taking over from management company less than a year back. Currently we are busy balancing the books between collection and the cost to maintain the common area and facility. We are reviewing our security and human resource capability. We spent tons of money currently repairing the alarm and security system such as water hose, pemadam api that were expired and have hired 3rd party structural engineer to check the building security so that we may insure the building better by next year. We are also in the midst of discussing of repainting of the block as it was overdue and the building paint looks quite old and outdated.

But the painting job will only be seriously table for next year as we are currently running out of budget for major maintenance as i inform earlier. Regarding illegal renovation ior renting to foreigner as such the JMC receive a few complaints and feedback but the authority of JMC is limited towards the common living area of the condo. We can issue warning and notification letter to the said owner of such consequence where in case of fire mishap the group insurance building wont cover their unit. But that is the limit of JMC authority.

It is a complicated matter as i have previously seen where a standard non modified unit only able to rent out at lower amount. Some landlord rent collection only barely covers their loan commitment and thus have some bad case of default of maintenance fee. Some units with partition, half of them obtain Majlis Perbandaran Sepang internal renovation consent while some are not.

We are reviewing such bad behavior and lets say if the condition is inhumane and unsafe where in a 1050sft condo the owner have up to 7-8 partition room with bad air ventilation, high risk of accident or fire, we will take actions against them. So far most modification is converting 3/2 become 5/2. Although the partition is not to our subjective liking, the condition is comfortable enough for the tenant.

Upon survey with some owner, we found out that without slight modification of adding additional 1 or 2 rooms extra, the rent per room inclusive of utility is usually very high around rm550 - rm800 and the rent cost is very hard to attract cyber worker or student to rent in the said unit. When the owner have such bad rental collection they usually default and late pay their maintenance. So it is a chicken and egg issue and we as JMC cant simply enforce 100% black and white regulations regarding this. We already have a pretty challenging default and late payment rate but we are still doing okay currently.

Enforcing such dramatic regulation may result in much worse maitnenance fee collection rate and may make the building unable to be maintain adequately with such high default.

rental is very subjective here. a laid back and conservative owner i heard rents around rm1500-1800. paling murah i heard rm1200 whole unit. The higher one i heard is rm2000-rm2400 but they are usually partitioning extra room and rents per room. however they do mention to me the work to manage 4-6 separate tenants in a single unit and managing the tenant water, electtrcial and streamyx bills is much much more work thus justify the extra 200-400 rental they collect.

just some survey frm some of the owner here.

u have a unit here?
we could use a seasoned guy leading buyers owners here

if not i vote for ntick
or mc henry for his hard praying (higher chance for divine intervention)

Didn't get what u mean? anyway new unit should naturally fetch higher rental than older units. but no matter how new and nice ur new development are, pool of tenants is always gonna bench mark the rental rate charge with the older cyberia development

sorry
question was
do u have a unit here

looking for someone to lead owners of this development

ler im owner of cyberia crescent 2 there the past 10 years. 7 years if you count once it starts to complete and rent out to ppl.

how can i lead ur development i dont invest there ...thus i would not be able to assess critically and realistically your situation there.

Anyway my advice in rental in Cyber is be realistic.

Rent to foreigner like black ppl is a NO NO....very high risk of default or any other problems later

Arabs....charge them much more...like i dunno 30-50% more? because they are loaded but be prepared that your house gonna get trashed...however the extra rental prolly justify...

Students....ironically eventhough my unit is very near to MMU I rarely prefer to rent to students. They rent, they move out within a year or less...sometimes only 2-4 months. Sometimes vanish tiba tiba.

Local cyber worker....my preference...

But once your rental pricing is way off market valuation.....pray hard that i wont be empty for long. competition is a lot right now for rental so my advice is be realistic....seta plan B if plan A doesnt works out

This post has been edited by max_cavalera: Jul 4 2014, 08:35 PM

Oh, not me please, I have no experience on this

Aiyah! Murray waiting for 4 to propose him as chairman seat lar ;-)

hence the first question

a simple no would have removed any need for such long explanations

experience will come

think about before u ever had sex
no experience
did that hold u back?
hell no!

as power crazy as i am
im not based in malaysia for the next 2 years

one leader of men (and women) needs to step up and take charge
and be ready to get toppled down once im back

are u an owner here CK besides your fashion business?
if not, i vote for ntick! (for the lack of other options haha)

Pai seh, not ur nebor

Many know to talk/complaint only and not contributing. JMC works like dog n no 1 appreciated for efford. Better get urself ready b4 get into it

I am not in malaysia since 2012

Anyone get the VP?

Why you said so?

VP likely Dec

Sure ah.?
Unit look OK, but road still not ready... Is the SA informed u how to get into ur unit?

CK15,
If you are aware of the impasse concerning the entrance road, you should let known in this forum. Let the new owners aware the pain they are going to suffer and no one will rent or buy their units because of this imminent congestion.
As for these new buyers, they should assert pressure or better still ask for refund if this is against the original plan.