Just for example, u are in Penang., invest in KL.

Anyone? How to chase rental? Repair? Issue..
Thanks

This post has been edited by Irresistible: Jul 7 2019, 07:55 PM

Bettet don do like tat lomm unleas u very rich can have agent to handle for u. Anything is involved money

1. Diy
2. Engage property manager
3. Friends / family

My parents manage for me... but but but.. I give my rental income as allowance to them.

Quite a hassle I mean literally. I did that before ended up selling it. Too far and no one that can be trusted. For repair it’s ok but rental depends on who you rent it to

lol consider you buy the property for parents

rental: just bank in

repair: call anyone in the area either management, furniture shop, restaurant, ask them recomend who can do the job for you.

issue: all settle by phone call

find tenant: social media as i dont trust agent.

bill: just use jompay for majority bill

status of renovation or repair: ask them video for you before release the payment

cleaner: social media








conclusion, you need a phone to settle everything

Do u really do tht?

Is it workable?

What hassle u encounter?

My wife and i live in Sydney and my wife has 2 properties in MK.

My wife has an agent to handle both properties. I never bothered much about these properties until recently as we will be spending a lot more time in KL nowadays. My wife deals with the agent and i don't get involved much as she bought these properties with her own money.

I can tell you that it involves a lot of work especially when tenant leaves - checking condition of unit after leaving and getting agent to organise cleaning/getting a new tenant. Sometimes agent will play up and you end up a long while before you get another tenant. My wife has changed agent 3 times in 5 years so this is really not a bed of roses. We used to only go back to KL once a year and i don't know how my wife handled it then - i only started getting interested in the process of rental because i am thinking of buying one more property (probably in Bangsar or MK area) when i retire next year. I will definitely not buy unless i am living in KL and have the time because even though you engage an agent, there is still a lot of work you need to do because the agent will overcharge you for even minor repairs (agents have their tricks for overcharging esp when you are not there). Luckily for us, we will have more time nowadays as i am about to retire and spend a lot more time in KL.

This post has been edited by Garysydney: Jul 8 2019, 04:13 AM

Give agent manage = charge 10 percents of total rental every month

Diy,
Ulang-alik
Kinda wasting time + efforts + opportunity cost

I don't think it's worth your efforts to diy, so better give agent to manage.

Btw, if after calculation = no meat better no need buy.
Waste of resources.

Unless you treat it as a seed funds for your children education in the future.
Otherwise save your breath and no need buy....

Bazir masa

It is harder to find a reliable and committed re agent than $100 on the road side.

yes. all by phone. while 1year i dont even visit more than 2time after i finish set up. my target tenant is student only, so i dont know can use same way on working adult or not. mind you student is most hassle

first problem, who is your target tenant.

second problem, are your know how to negotiate for everyhing.

third problem, chose 1 of the tenant which you think is leader type, then train him up to settle all problem for you. tenant willing do the job for rm20 to rm50 job just to cut a bit of rent.

I would not touch it if in Malaysia as the agents are not professional.

There are many strategies to it.

First strategy you could engage an agent to deal with everything.
Pros :-
Someone looks for a tenant for you.
Someone can chase rental collection for you depending on the contract.
Can usually get the maximum money possible.

Cons :-
Change of tenant will be an annual affair.
You will need to find someone that deals with maintenance.
Difficult to find agents that are honest.

Second strategy, you could engage a property portfolio manager.
Pro:-
This person has their own letting agents, handymen and even IDs on hand.
1 point of contact for absolutely everything.

Cons :-
Expensive (Check out the thread I have at Property Q&A on this topic)
Good ones are few and very far between.
You will find not just tenants change annually especially if they get wind that you just want some money, there will be all kinds of funny expenses and job request.
Only worth it if you are in possession of 20 or more properties and worthwhile to give salary to this person.

Third strategy is to do it yourself.
Pros :-
Tenants tend to stay longer.
Better yields.
Plenty of technology that makes it easier these days.

Cons :-
You have to get your hands dirty.


My take :-

If it is under 5 properties, do it yourself. I know of people who are living in UK and still manage their properties in KL.

I was looking into doing the 2nd strategy as I don't have as much time as before due to job commitments. Decided not to bother as I invest for profit not to do charity.

im still prefer 3rd strategy. profit already very less after pay installment bank. the pie still need share to stranger agent, if everything well then ok, if thing go sour, you get additional 1agent as hassle

Same, however it also means you must be willing to get your hands dirty.

I always believe when it comes to this there is only 1 way to do it, get down to the field and get your hands dirty. Unless of course you only have properties that are fully paid off and you have money to throw, then different story.

Personally I have already decided even if I have 50 properties on hand, I will still manage it myself but I would hire a handyman to settle the maintenance issues.

i hirer student. pay him a bit comision, ask him see youtube learn, teach him how to do, and of course a lot of encouragement word for him, make him proud work for me

he get peanut comision, but the experience i teach is priceless.

This post has been edited by leodinouknow: Jul 8 2019, 03:51 PM

Local or foreign student?

How has that worked out?

local, about 18-22years range type student.

great result. even interview new tenant, close deal, cleaning service, any tenant complaint light or spoil thing, he go handle.

i just received msg, pass to him settle. dont even need visit the area anymore.

Sounds like you found yourself a gem of a tenant. This is the same one that painted an entire apartment in a day?

different person. feel so nice become boss use finger point here point there ask people work hahaha

i remember the first property, all do myself cause wanna save cost, end up really self tired & dirty.

i heard speedrent is doing the collection on behalf of landlord, but at a yearly fee.
they also scan the tenant's credit profile.

looks good, anyone tried?

basically speedrent is for those lazy to manage. but harder to get tenant as must have credit card to swipe.

How did you find him in the first place?

like normal tenant lo. by social media. suddenly he say want take over cleaning service, say want do some part time. then i start offer him more n more job d

after lot of encouragement word whenever he sucess easy task, he gain more confident handle harder task. become fine soldier of mine.

You use social media to find tenants? As in posting it on FB Groups?

yes, the result is better than agent. agent 1month may got 20potential tenant which ask pm pm to agent, while i get more than 200 pm enquiry. just take 2mins reply them, normally is copy paste as all the question tenant ask is the same. dont tell me during lunch or dinner you can get 5mins look at phone msg?

mostly 50% is 1-2msg stop, other 30% got talk longer but dont want come down look room. you just target those 20% which make appointment come visit. from 20% of 200, you need find 3-4suitable tenant only. as long as your product not too cheapskate, normally close deal is easy.

why? cause sometime not me close deal, is 18years old no experience student close the deal for me. if you able fork out 100k, 300k buy property, but lose to 18years old student in closing deal, you not suitable in negotiate business.

only two word, you dont want do it, or you dont know how to do it. dont ever ever tell me you cant do it.

Going to have this problem soon. Staying in Penang, my second rental unit in KL.

I've always admired you for trying new and unconventional ways and means to solve problems. Also admire your persistence in never accepting or making excuses especially where there hasn't even been any attempts at trying.

Wish more people especially in the workforce and in the consumer market would do the same.



Only a problem if you make it a problem.

got problem only got solution and improvement

people always call me crazy whenever i tell them the idea how i wanna make one thing work including my father. he fuck me upside down a lot time. well, maybe im more to rebel type.

i rebel, i dont follow rules, but im been calculate and research a lot for each step i when i do thing. of course including 2-3way out in case plan dont go smooth as i believe in generation keep changing, cannot keep using kampong mindset to solve problem. it may save you now, but not in future.

Its good to be a non-conformist and a bit of a rebel. My father is definitely one, he sort of behaves like the typical eccentric Brit, the exact type that would do something because he can and the exact type that keeps long hair and a pony tail. His rules are very simple for everyone, you fuck up and make a mess then you better find out how to sort it out and clean your own shit. Rules are meant to be broken just don't get caught red handed.

Myself, I don't conform if I don't want to and rebel if I have to. If I fall, then I fall and I will get up and try again, I won't ask for a hand to help get up and going again. As they say if it doesn't kill you then it makes you stronger and wiser.

Its an absolute pity the system here doesn't accommodate rebels very well here. Little wonder we can never have any visionaries like Steve Jobs, Elon Musk or any types of such persons because somewhere along the line before they get to their full potential they are told to conform or rice bowl kicked in their face.