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DirectorLee
post Apr 30 2019, 06:19 AM

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QUOTE(Bjorn1688 @ Apr 29 2019, 05:58 PM)
Personally I start taking action once the 1st month is in arrears. I ask them when is their pay day during tenancy, I give them 3 days grace period, then it is time to start calling to remind them.

5 years ago I had this British expat tenant that worked here. He was good for 6 months, paid on time. Then he said he was out of job but would be starting to a new one soon so give him some time.

2 weeks passed, I asked him to pay half. He did not pay. 3 days after that call I happened to be at TTDI he was there having a blast at one of the pubs, clearly having loads of fun with 3 or 4 chicks hovering around him. I just observed, he wasn't aware I was watching or couldn't give a toss. Then as he left, I checked out what car he was leaving in, it was a 2 month old BMW (mind you it wasn't a 318i, it was a brand new M3 with a 2 digit plate) and I did some digging around turns out it was his car registered to his name.

Next day I gave him a call asked him about rent, he said he was in an interview would get back to me. He did not get back to me.

A month had passed by, I gave him a call, he said he was still between jobs. I told him he should consider giving up that M3, he hung up on me.

The next day I called up his office, asked if he was around, they connected me to him, I hung up on him.

Next day I went with 2 gangsters to his office, asked for him, he came out. I told him congratulations on his new job. Asked him when he was settling the rent arrears. He told me to F-off and what was I going to do if he didn't pay. I told the receptionist its an absolute pity she worked for a boss like that. We then left.

I waited till it was his pay day, sent 6 big sized gangsters to wait near his car. When they saw him, they told him to pay up the arrears, then sign a letter stating that he was breaking the tenancy agreement and moving out straight away. They gave him an hour to pack his personal belongings and move. 

Oh yeah he even paid their "fess" and quickly left. He only took his clothes, gave him 7 days to collect his stuff but everything he left with remained.
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What?? this just doesnt make sense? is he renting a castle? Why cant he pay rental being a boss and driving a M3 and stuff. Curious how much is his rental.
DirectorLee
post May 1 2019, 11:07 AM

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QUOTE(Bjorn1688 @ May 1 2019, 02:57 AM)
Nothing unusual. Several years ago one of my properties I rented it to this family where the husband was some salesman and wife a teacher at a SRJK with 3 kids. Of the 42 months they lived there every month rent was late. Every month bill RM250-400. Rental around RM1600 per month. They had an Estima and a Preve. They gave 3 months notice that they wanted to leave so wasn't going to pay the rent. I told them no deal. I drove by to check the house, place was a skip, grille damaged, electrical system so badly messed with to the point whole house was a fire hazard. She insisted she wasn't going to pay the rent as I won't return her the deposit otherwise. I checked the TNB account RM3700 outstanding. I went to TNB asked why they had not cut off supply, the girl at the counter also did not know. I told them since a red notice is out and the account was in my name I wanted it cut within 24 hours. I asked for the number of the person cutting the supply, he said he would be there at 3pm, I went there at 3pm, so happened she was home teaching tuition, offered him a bribe to not cut the supply, RM100 then upped it to RM300, in the end he told her can't do it as owner watching from outside. She went berserk and started screaming that she had meat in the freezer. I told her unless she settled the bill immediately there would be no electric to the house.

Oh yeah she was shouting at me at the top of her lungs with plenty of neighbours coming out to see. Next day she paid the electric bill. Then blamed me for spreading rumours about her at her school. I suspended the TNB account, told her she not paid rent yet. Another round of shouting again, she said she losing money because no electric as can't teach her tuition and had to throw food away. Told her not my problem, pay the rent first then will talk.

After a week, the husband called me to bank in all the rent that was outstanding, called for a contractor to fix everything and moved out after a month.
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Lol, so much work for the rental income.
emotional stress + time on going here and there + argument with the tenant.
DirectorLee
post May 3 2019, 07:33 AM

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For landed, yup, been surveying to buy a landed for own stay.
it has been stagnant for at least 4 years+. (actually dropped a little from 2015 to 2017)

If a property doesnt increase in value = your asset depreciate anyway, at least it has to increase by 3% ~ 5 %.

And price drop is a real disaster.
especially high rise, with maintenance added up to your installment and stuff...

This post has been edited by DirectorLee: May 3 2019, 07:34 AM

 

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