lowyat forum is time machine
agent potrayed room rate RM320 per night, 21 days occupancy, wonder what is the rate now?

But tbh saw agents sharing on vp video, looks like workmanship is fantastic

Avoid any exsim properties at this point. Their newer projects are mostly being used for airbnb purposes but maintenance is completely non existent. The two previous projects are pretty new but completely horrible. Expressionz is infected by pests while Ceylonz is damaged badly.

Could be too fancy issue.
Always nice to look at.. but not easy to maintain.

Too bad exism mostly are serviced apartments. Including this scarletz... If not wrong. Their properties really good for airbnb business. Maybe need JMB help to ban it. 😅 But if most of the JMB into airbnb business, you can only pray hard... 🥴

This post has been edited by wotpian: Sep 1 2022, 10:47 PM

can't really imagine airbnb in klcc area can cover their property installment
there are plenty nice hotel with lower price compared to the asking airbnb rates not to mention the competition between airbnb itself

Hello, To all Scarletz suite, Jln Yap Kwan Seng Owners

I am 1 of the owner in this Scarletz & Ceylonz suite. This building is design for short term rental investment purpose (Airbnb) Not suitable for long stay or own stay.

The problem now is the management from developer keep changing & forcing client/owner to sign up with some non reputable 1 man show operator company called G Suite or known as Ango properties is a blacklisted operated in Ceylonz suite project by the same developer.

This operator just a very new in this industries and get blacklisted, and in 2021 the company is declare a lose profit overall dont think so because tax purpose (few hundred thousand making loss)

And this operator keep saying give guarantee return but this money is pay by his own pocket money i think, do you feel safe?

This coperator founder also is property agent and she will steal all your client database too.

I advise all owner do your due diligence before sign up any operator. Owner have the right to choose any one.

From
Been Conned Owner

current travel climate is different... ppl who stay airbnb wont look at nice hotel... vice versa.... hotels in klcc how cheap also they cant provide you with a proper 450sqft studio also with kitchen/pantry... and.... the new toilet bowl effect....

same applies to all arte properties... after 1-2 years... run down due to wear n tear and most owners default their maintenance fees... lol

First lelong unit check in.
Can wait for price drop.

hi, any Scarletz owner here?

just want to ask, did u guys buy for own stay or investment? if investment, is it managed by Mykey? are they a good management company for the units there in Scarletz?

Wanna know too 👀

bump

This post has been edited by AceDeatH: Mar 29 2023, 05:06 PM

Based on the knowledge from my own source of information, the average monthly net income for owners is approximately RM2.4k only (excludes maintenance fee, sinking fund, quit rent, IWK, DBKL’s assessment fee, fire insurance which owners still have to pay by themselves). Thus, you can evaluate it yourself if it is worth to engage MyKey to manage the property for you.

I hope others are willing to share the average net monthly income from other operators which can be useful for my knowledge.

This post has been edited by Newbie_Investor: Apr 11 2023, 04:14 PM

I was just at Scarletz yesterday and found the place to be very well kept. I dont think the property would be a good idea for own stay at all. It is more of an investment property. Saw lots of Russian tourist and the queue for check in on a Sunday was pretty busy too. There is no dedicated parking provided. So if you plan for own stay, its RM5 per entry every day for parking. The property is niche which caters to higher end Abnb concept. Rental prices range from RM150/day (low season) up to RM350+ during peak.

I was stayed at Scarletz last month in Jun23, i am amazed the quality of furnishing. Full of people queue in front of check-in counter event in non peak seasion and weekday. However, check in experience was good, it took me about 15 mins to check in. The carpark is small but not many was occupied, i parked at 1st and 2nd floor during my 2 days stay at Scarletz. The overall experience is good and congrat to those who invested in this project despite it has been questioned and challenged by some others in this forum. Anyway, this is a very good start and hope the quality and maintenance can continue.

I signed up with mykey too. The returns not so promising. Maybe they engage too many units diluted the profits sharing.
Will have to find other operators or own manage after the contract over.

This first lelong unit still available in the market. Called off last year.
But now enter lelong again. Seems like this owner having difficulty again.

Auction date: 28th Aug 2023 (Mon), 3.00PM



Lelong record for 450sqft. In June this year.
from 567K, sold at 645K.

Good catch?

How's the occupency rate there? Can this generate positive cash flow?

This first lelong unit finally sold today.
From 570K, sold at 635K.

Good catch?

I guess if no owner is sharing about their profits, means their units in scarletz are doing very well? Cause nothing to complain if they are receiving a lot of profit from their units every month.

The number of incoming tourists is very high from what I observed. Malaysia is still one of the more affordable places for a holiday and don’t forget the annual Arab migrants fleeing their summer.