1. Demographic 2. Lack of road/accessibility alternative
Another issue is even if you "pok" on mrt2, there are at least 10k units between zizz and klcc2. Of course.... Some are slightly further away from MRT station but then again.. all these are easily accessible than dsara damai
The prob is when come to rm1500-2000 pm rental, there are way too much option out there.
I don't think the project's management can do much as long as the renovation done by those units doesn't involve hacking at those beam walls. And how are you to identify which unit is doing this? Your neighbours on the same floor may be made up of a mixture of own-stay owners, rented units (either whole or room-by-room), Airbnb, empty units or sublets.
And even if landed houses or high-rise units practise this, are they ever reported by their neighbours to the city council or authorities? If the authorities did clamp down such properties, then we wouldn't see sublet landed houses and apartments/condos/serviced residences by now.
Those landed who did illegal partition/extension are potential fire hazard. There were cases where local authorities demolish the illegal exrensions. Two wrongs doe't make a right.
Back to Zizz, where these majority owners are doing sublet even just VP-ed, the conclusion of this property is already casted to the stone. Similarly to one new launch in Dutamas where the strategy of the owners is to do co-living. Nothing wrong with co-living however it is more suitable to drive by single owner i.e. Komune but not those multiple owners setup.
yeap... and almost all of the gurus in the market is pro in subletting... they rent the units from their followers with low rental.. help them partition up or add in beds on the owners own cost... and then subletting it out by head... for those followers who can do it themselves... then more cash flow will be in... for those who cant... gurus makan all the profit... so happy and the unit not belongs to the guru anyway
It is so obvious... And I do not know why people cannot see it right in the face the scheme.
Mahaguru is a businessman, I understand. But the followers cannot see the obvious? If too many units are doing sublet, the property value will drop.
But they're still around, especially those houses close to universities such as Taylor University and UTAR's Sg. Long campus to name a few where 10 plus students reside in a bungalow converted as such. Not to say I support this practice or what not.
The only article I'm able to dig out for such homes is from The Star, but that's more to houses being rented out to foreign workers which resulted in it being a nuisance to the neighbourhood.
Similar to many illegal practices in Malaysia, they are still around because of lack of reinforcement by local authorities.
This condo really that good? Hearsay got many fancy facilities attract family tenant. But about the 4ft corridor, well..
No idea. Wouldn't be interested in anything to do with dsara Damai. They are cheap for obvious reason and mrt wouldn't help them much aside improve the rental liquidity. Even if the price going up, I am pretty sure other areas will outperform them.
so ma fan for the extra few hundreds. but DWIT to survive i guess
This is how owner justify high yield. Bear in mind if you do not personally manage it, you will have to pay someone (property manager, agent, co-living) to manage it.
However if too many owners are doing it, wear and tear, exclusitivity, security maybe will be an issue. Just like menara one city one unit packed with 6-12 people.
Selangor Mansion pack in 10 foreigner workers also can get double digits rental yield. Perhaps can fully pay the loan in 10years.
These owners that allow sublet + partitioned units do not fully understand the full implications of their actions to their property. The only person will gain is the operator that take fee and commission from managing the tenant. Where owners will be left with high wear and tear units/ common area and condo that will looks like hostel.
If every unit is doing the same, the density will out of imagination...
No need all units.
Even if just 15-20% of total units doing this, the whole development will be gone very soon. Bear in mind... Some operators they also offer co-living package. They will fully utilise the facilities (FOC of course) for their clients.