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Investment Disadvantages of buying serviced residence

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TSreed90
post Nov 26 2018, 09:07 AM, updated 8y ago

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Is it that much difference for the rates of utility n quit rent for serviced residence and condominiums?

Is it worth it to buy serviced residence for own stay?
peri peri
post Nov 26 2018, 09:16 AM

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easily convert to airbnb with no issue
AskarPerang
post Nov 26 2018, 09:17 AM

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TNB for service apartment still can convert, getting same residential rate.

But water should be the deal breaker. Commercial rate is around 4 times the amount of residental rate. Plus got minimum charge even if no one staying. For selangor ppl, i know few who dont need to pay their water bill at all. Below 20 meter cubic is free. Next year will increase to 25.

Assessment rate differs by 1%. Service apartment VS condo. Around 100+ the difference for a year.
TSreed90
post Nov 26 2018, 09:35 AM

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QUOTE(AskarPerang @ Nov 26 2018, 09:17 AM)
TNB for service apartment still can convert, getting same residential rate.

But water should be the deal breaker. Commercial rate is around 4 times the amount of residental rate. Plus got minimum charge even if no one staying. For selangor ppl, i know few who dont need to pay their water bill at all. Below 20 meter cubic is free. Next year will increase to 25.

Assessment rate differs by 1%. Service apartment VS condo. Around 100+ the difference for a year.
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wow, that's quite high
SUSfreeman1
post Nov 26 2018, 09:39 AM

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QUOTE(peri peri @ Nov 26 2018, 09:16 AM)
easily convert to airbnb with no issue
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Wrong... a lot of apartment management already set rules to ban homestay and airbnb...
aaron1717
post Nov 26 2018, 09:59 AM

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better consider pure residential project le if u have the option... although nowadays pure residential title project in KL is a rare breed... lol
AskarPerang
post Nov 26 2018, 10:14 AM

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QUOTE(peri peri @ Nov 26 2018, 09:16 AM)
easily convert to airbnb with no issue
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Incorrect info.
Many service apartment already started to ban airbnb. My bet is more will follow suit.
zudin
post Nov 26 2018, 10:32 AM

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if the service apartment is under HDA rules sholud no problem with electric and water tariff, follow residential charge
DesRed
post Nov 26 2018, 11:26 AM

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QUOTE(zudin @ Nov 26 2018, 10:32 AM)
if the service apartment is under HDA rules sholud no problem with electric and water tariff, follow residential charge
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Only for electricity. Almost all of the service residence projects I've visited, completed and under-con, the SA or developer sales staff mentioned that electricity can convert to residential, but not for water and assessment.

Just have to accept this when choosing a property closer to the city, unfortunately.
ju146
post Nov 26 2018, 11:45 AM

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QUOTE(AskarPerang @ Nov 26 2018, 10:14 AM)
Incorrect info.
Many service apartment already started to ban airbnb. My bet is more will follow suit.
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In what extend does government authority of building/management office can impose to control? Example if 'airbnb banned' is written in the house rule, can the management office execute it strictly to chase them off?
gooberhock
post Nov 26 2018, 11:46 AM

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Yes. Or impose fine.
QUOTE(ju146 @ Nov 26 2018, 11:45 AM)
In what extend does government authority of building/management office can impose to control? Example if 'airbnb banned' is written in the house rule, can the management office execute it strictly to chase them off?
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forever1979
post Nov 26 2018, 12:12 PM

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QUOTE(ju146 @ Nov 26 2018, 11:45 AM)
In what extend does government authority of building/management office can impose to control? Example if 'airbnb banned' is written in the house rule, can the management office execute it strictly to chase them off?
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under strata management act, i guess

house rule set by JMB or MC is very powerful for strata properties
brogress
post Nov 26 2018, 12:15 PM

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One overlooked aspect is the developers (especially if it’s a connecting mall) themselves sitting or having an outsized influence on the JMB just like The Main Place. You call read all about at https://www.thestar.com.my/metro/metro-news...-and-developer/
prozdennis
post Nov 26 2018, 01:28 PM

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my service apartment also will convert to residential pricing for syabas and TNB.
aaron1717
post Nov 26 2018, 02:03 PM

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QUOTE(prozdennis @ Nov 26 2018, 01:28 PM)
my service apartment also will convert to residential pricing for syabas and TNB.
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u sure syabas boleh convert ka... ada apply from syabas before?
AskarPerang
post Nov 26 2018, 02:34 PM

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QUOTE(zudin @ Nov 26 2018, 10:32 AM)
if the service apartment is under HDA rules sholud no problem with electric and water tariff, follow residential charge
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Doesnt matter under HDA or not. Water SYABAS cannot convert for service apartment.

QUOTE(prozdennis @ Nov 26 2018, 01:28 PM)
my service apartment also will convert to residential pricing for syabas and TNB.
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Service apartment water SYABAS confirm cannot convert.
Dont listen to sales agent or developer promise such cheat ppl stuff.
kopikaukau
post Nov 26 2018, 02:35 PM

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QUOTE(brogress @ Nov 26 2018, 12:15 PM)
One overlooked aspect is the developers (especially if it’s a connecting mall) themselves sitting or having an outsized influence on the JMB just like The Main Place. You call read all about at https://www.thestar.com.my/metro/metro-news...-and-developer/
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TQ for sharing
prozdennis
post Nov 26 2018, 02:42 PM

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QUOTE(AskarPerang @ Nov 26 2018, 02:34 PM)
Doesnt matter under HDA or not. Water SYABAS cannot convert for service apartment.
Service apartment water SYABAS confirm cannot convert.
Dont listen to sales agent or developer promise such cheat ppl stuff.
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i sign the document to convert syabas to residential rate ady wor..
AgentVIDIC
post Nov 26 2018, 02:45 PM

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yalo, i also thought cannot convert water one? can meh?
AskarPerang
post Nov 26 2018, 02:49 PM

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QUOTE(prozdennis @ Nov 26 2018, 02:42 PM)
i sign the document to convert syabas to residential rate ady wor..
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Project name?

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