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Property Agent offer rental service for new Condo, Damai Vista in Cheras
TSuser5092
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Oct 10 2018, 12:08 PM, updated 6y ago
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Getting Started
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Hi all, my friend bought Damai Vista in Cheras, recently the Property Agent contacted him and told him the condo will be ready by March 2019. Besides, they also call for a meet up with the owner.
So my friend attended the meeting, and there are other owner in the meeting too. In the meeting, the Property Agent started to promote kind of rental management service.
The Property Agent will help to find the tenant and the rental will be around 3k, the owner will get 80%, and the developer will get 20%. Besides that, the developer got offer renovation service, 40k for the whole unit, but the owner can choose to take their renovation service or not.
Anyone facing this service by developer? Is it some kind of scam?
Thanks
Edited: sorry, my bad, actually is property agency offer, not developer
This post has been edited by user5092: Oct 11 2018, 10:12 AM
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TSuser5092
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Oct 10 2018, 01:27 PM
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Getting Started
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QUOTE(TBJ @ Oct 10 2018, 12:13 PM) 1)if you can get 3k tenant yourself, you do not need to share 20%. 2)big or small developer? 3)what if they receive rental but do not pass to owners, complications in having to take lawsuit to court. there's good and bad in it. you've to filter it out. Actually is property agent, not developer.. haha... I have missed conduct the information. Agreed on your point 1
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TSuser5092
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Oct 10 2018, 01:28 PM
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Getting Started
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QUOTE(ctlim78 @ Oct 10 2018, 12:24 PM) get the Tenancy Agreement and study it. Why the developer want to provide rental service in that location ( is not a hotspot area ). Actually is property agent, not developer.. haha... I have missed conduct the information.
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TSuser5092
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Oct 10 2018, 01:29 PM
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Getting Started
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QUOTE(Looi90 @ Oct 10 2018, 12:30 PM) Might as well find your own contractor to do the job cheaper than 40K renovation fee and find real estate agent to source for tenant at rental 2.4K ( 80% of 3K) and pay them one month rent commision one shot since developer so confidently promised 3k rental at this area Actually is property agent, not developer.. haha... I have missed conduct the information. I agree your point.
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TSuser5092
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Oct 11 2018, 09:59 AM
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Getting Started
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QUOTE(AvenueX @ Oct 10 2018, 02:45 PM) I may be wrong, but it might be an attempt to make more money by offering the furnishing package. If cannot rent out they don't lose anything. I have think about that too, but the owner can choose not to buy their furnishing service, the owner can renovate the unit themself, and still eligible to join the rental management plan.
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TSuser5092
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Oct 11 2018, 10:00 AM
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Getting Started
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QUOTE(Quang1819 @ Oct 10 2018, 11:05 PM) Wah I thought this only happen in Malacca haha Nowadays developer also so hotsui meh. Owner's rental also wanna songlap along Actually is the property agency, not the developer.. haha... I have misconduct the information.
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TSuser5092
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Oct 11 2018, 10:01 AM
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Getting Started
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QUOTE(lowyatwong @ Oct 10 2018, 11:49 PM) may i know which agency is it? Phoenix Plus Properties
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TSuser5092
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Oct 11 2018, 10:03 AM
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Getting Started
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QUOTE(lowyatwong @ Oct 10 2018, 11:52 PM) pay developerlor..its open secret Actually is because this property agency help to sell the most of the unit of this condo, that's why they have the contact number of the owner.
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TSuser5092
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Oct 11 2018, 10:04 AM
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Getting Started
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QUOTE(chewlee @ Oct 10 2018, 02:21 PM) How the property agent get all the owner contact detail? Actually is because this property agency help to sell the most of the unit of this condo, that's why they have the contact number of the owner.
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TSuser5092
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Oct 11 2018, 10:06 AM
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Getting Started
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QUOTE(icemanfx @ Oct 10 2018, 06:29 PM) Syndicate may have bulk bought a large number of units for rental or flip. Engaged this agent to "set" rental at $3k among other owners so they could rent out quickly at cheaper and prevailing market rate. Interesting Theory.
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TSuser5092
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Oct 11 2018, 10:50 AM
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Getting Started
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QUOTE(genyproperty @ Oct 11 2018, 10:46 AM) Now damai vista sell for 750 per square feet super freaking high! How much and when your friend bought? I am not very sure, the price should be more than 600k, he bought around year 2016
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