May 17 2013, 04:50 PM
QUOTE(siberfriend @ May 17 2013, 02:02 PM)
btw, it is not fully furnished. it is partially furnished.
rental management/big house will quote you x dollar for the renovation + furniture. if the x dollar is too much, would you accept?...
once you agree to pay plus their so called "rental package", then they will proceed to renovate your unit and rent it out.
"rental package" - they will rent your unit out for RM 300~400 per day. then they will deduct some management fees (assume 50%/RM 150~200) from your rental. you only left RM 150~200 earn.
assume full house for all the unit during weekend:-
1 month = 4 weekend = 8 days
projected earn = RM 150 * 8 (min) ~ RM 200 * 8 (max) = RM 1200 (min) ~ RM 1600 (max).
normally, a decent hotel/resort only get 60~75% occupancy. Somersquare has 512 units, what is their strategy to rent it out at 100%? any marketing plan? which unit gets the highest priority of renting out since it is not GRR? what is the name BIG HOUSE going to use for renting out your unit? BIG HOUSE RESORT? SOMERSQUARE RESORT?
there are still a lot of grey area in this package.
I worked in Cameron b4- hotel industry...just a note, avoid carpet on the floor due to cameron weather..need a lots of work & maintenance...rental management/big house will quote you x dollar for the renovation + furniture. if the x dollar is too much, would you accept?...
once you agree to pay plus their so called "rental package", then they will proceed to renovate your unit and rent it out.
"rental package" - they will rent your unit out for RM 300~400 per day. then they will deduct some management fees (assume 50%/RM 150~200) from your rental. you only left RM 150~200 earn.
assume full house for all the unit during weekend:-
1 month = 4 weekend = 8 days
projected earn = RM 150 * 8 (min) ~ RM 200 * 8 (max) = RM 1200 (min) ~ RM 1600 (max).
normally, a decent hotel/resort only get 60~75% occupancy. Somersquare has 512 units, what is their strategy to rent it out at 100%? any marketing plan? which unit gets the highest priority of renting out since it is not GRR? what is the name BIG HOUSE going to use for renting out your unit? BIG HOUSE RESORT? SOMERSQUARE RESORT?
there are still a lot of grey area in this package.
well, do the developer guarantee return every month? if yes...great....if no, my experience most probably you still need to top up money to cover management fees, service charges, misc charges....
Best to ask developer to commit in black & white agreement. Once you signed S&P and loan agreement, developer transfer risks & liabilities to purchaser...
Good luck.,
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