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 Legasi @ BK8 Kinrara, Freehold DST

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888-Alien
post Apr 4 2023, 10:12 PM

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QUOTE(rumahwip @ Apr 4 2023, 03:05 PM)
if no DMC, dont tink is legally binding
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DMC only cover public area like pool facilities
For Gated and Gated landed, it covers guard post, fence, garden facilities, street light etc
There are many version of housing in Klang valley
1. Gated and Guarded (DMC + MO)
2. Fence and Guarded (Guarded neighborhood) (DMC) (W/Wo
MO)
3. Fence and Guarded (Guarded neighborhood) (W/Wo MO)
4. Guarded neighborhood
5. Fence neighborhood
6. Normal Taman

888-Alien
post Apr 4 2023, 10:15 PM

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QUOTE(47100 @ Apr 4 2023, 02:15 PM)
can you share how to tackle non paying residence? they might have many reasons behind it...
anyhow they are not legally oblige to pay right?
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Hard to explain, every Taman has it’s own collection problem
Need to look into the structure of the community and resident’s cooperation, RA is damn hard to manage, residents are naive, their attitude determined how long a RA can sustain
jasperng
post Apr 5 2023, 10:06 PM

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One of our owner in Legasi 2 generously prepared comparison of the potential setup for Guard house for Legasi 1,2,3 and 4. Whether legasi 1 and 2 guard house should be separated or shared with legasi 3 and 4.

Would definitely love to gather opinions on these options as below
Personally RA should work towards having gated community as it will increase the future value of the property due to demand for gated housing is always rising.

Attached Image

This post has been edited by jasperng: Apr 5 2023, 10:08 PM
888-Alien
post Apr 6 2023, 12:02 AM

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QUOTE(jasperng @ Apr 5 2023, 10:06 PM)
One of our owner in Legasi 2 generously prepared comparison of the potential setup for Guard house for Legasi 1,2,3 and 4. Whether legasi 1 and 2 guard house should be separated or shared with legasi 3 and 4.

Would definitely love to gather opinions on these options as below
Personally RA should work towards having gated community as it will increase the future value of the property due to demand for gated housing is always rising.

Attached Image
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I share the same thought, indeed a better version is Legasi 1&2 for Residents and visitors, Legasi 3 & 4 for residents (auto RFID), so morning 4 guards, night 3 guards

7 x 10/hr x 12 x 30.5 = RM25,620
Security fees per house = RM105.43
To play safe, RM150.00 is better, there are some other hidden cost
jasperng
post Apr 6 2023, 05:13 PM

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QUOTE(888-Alien @ Apr 6 2023, 12:02 AM)
I share the same thought, indeed a better version is Legasi 1&2 for Residents and visitors, Legasi 3 & 4 for residents (auto RFID), so morning 4 guards, night 3 guards

7 x 10/hr x 12 x 30.5 = RM25,620
Security fees per house = RM105.43
To play safe, RM150.00 is better, there are some other hidden cost
*
Yea I also leaning to option 4 , but 3 and 4 should still have one guard to ensure no walk in through the barrier.

120-150 are quite fair. Again as you mentioned the issues are always collection and how strong the RA able to convince owners that have gated are beneficial not only for security but the future values of the property.
alen_wong38
post Apr 6 2023, 06:07 PM

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QUOTE(jasperng @ Apr 6 2023, 05:13 PM)
Yea I also leaning to option 4 , but 3 and 4 should still have one guard to ensure no walk in through the barrier.

120-150 are quite fair. Again as you mentioned the issues are always collection and how strong the RA able to convince owners that have gated are beneficial not only for security but the future values of the property.
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my 2 cents, rm10 per hour rate might not be possible. currently most of the guard hourly rate are rm12 in average because that has to factor in OT and public holidays and etc.


The other cost to be considered are CCTVs purchase and maintenance, boom gate maintenance, electricity bills for guardhouse, mobile toilet for guards, and VMS app subscription fee (like Jagaapp and etc). rm150 per month budget might be a bit tight tbh.
888-Alien
post Apr 7 2023, 09:10 AM

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QUOTE(alen_wong38 @ Apr 6 2023, 06:07 PM)
my 2 cents, rm10 per hour rate might not be possible. currently most of the guard hourly rate are rm12 in average because that has to factor in OT and public holidays and etc.
The other cost to be considered are CCTVs purchase and maintenance, boom gate maintenance, electricity bills for guardhouse, mobile toilet for guards, and VMS app subscription fee (like Jagaapp and etc). rm150 per month budget might be a bit tight tbh.
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Many security company claim that their Nepalese guards are Gurkha ex army soldier, this is bullshit, but Nepalese guards are generally better than local guard which is more disciplined and patience, my Taman is lying RM9.50/hr now, a rise of RM0.50 every 2 years which I think is acceptable.
Usually a new RA pro tem can have 90% of residents to join as member, the remaining 10% is depend on the efficiency of the RA’s operation to convince them.
While Legasi 1&2 are getting their keys now, I do suggest that Legasi 3&4 owners join to discuss this matter, someone need to champion this.
888-Alien
post Apr 7 2023, 09:24 AM

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QUOTE(jasperng @ Apr 6 2023, 05:13 PM)
Yea I also leaning to option 4 , but 3 and 4 should still have one guard to ensure no walk in through the barrier.

120-150 are quite fair. Again as you mentioned the issues are always collection and how strong the RA able to convince owners that have gated are beneficial not only for security but the future values of the property.
*
Precisely
Security is the most important part for new purchaser’s concern, once the security is absence, property price may drop 10% immediately, this happen in many existing BK old phases i.e BK1-5, vice versa once a guarded system is established, a particular Taman may raise the interest of house buyers, hence property price will increase gradually in long term.
The main reasons that causing RA ceased are :-
1. No volunteers
2. Collection rate drop below 40%
3. Mismanagement
4. Disharmony among residents

rumahwip
post Apr 7 2023, 10:57 AM

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QUOTE(888-Alien @ Apr 7 2023, 09:24 AM)
Precisely
Security is the most important part for new purchaser’s concern, once the security is absence, property price may drop 10% immediately, this happen in many existing BK old phases i.e BK1-5, vice versa once a guarded system is established, a particular Taman may raise the interest of house buyers, hence property price will increase gradually in long term.
The main reasons that causing RA ceased are :-
1. No volunteers
2. Collection rate drop below 40%
3. Mismanagement
4. Disharmony among residents
*
just wonder, which legasi did u brought?
jasperng
post Apr 7 2023, 12:31 PM

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QUOTE(888-Alien @ Apr 7 2023, 09:10 AM)
Many security company claim that their Nepalese guards are Gurkha ex army soldier, this is bullshit, but Nepalese guards are generally better than local guard which is more disciplined and patience, my Taman is lying RM9.50/hr now, a rise of RM0.50 every 2 years which I think is acceptable.
Usually a new RA pro tem can have 90% of residents to join as member, the remaining 10% is depend on the efficiency of the RA’s operation to convince them.
While Legasi 1&2 are getting their keys now, I do suggest that Legasi 3&4 owners join to discuss this matter, someone need to champion this.
*
good to know nepalese is the one to look for.

yea L1 and L2 will set precedent. Hopefully the RA can be strong so L3 and L4 can follow too! we definitely need more L1 and L2 owner to join telegram group. The more the merrier. please do inform if any one know L1 and L2 owners which not joined owner group


QUOTE(888-Alien @ Apr 7 2023, 09:24 AM)
Precisely
Security is the most important part for new purchaser’s concern, once the security is absence, property price may drop 10% immediately, this happen in many existing BK old phases i.e BK1-5, vice versa once a guarded system is established, a particular Taman may raise the interest of house buyers, hence property price will increase gradually in long term.
The main reasons that causing RA ceased are :-
1. No volunteers
2. Collection rate drop below 40%
3. Mismanagement
4. Disharmony among residents
*
Agreed.
jasperng
post Apr 7 2023, 12:32 PM

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duplicated post

This post has been edited by jasperng: Apr 7 2023, 12:32 PM
alen_wong38
post Apr 7 2023, 03:19 PM

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QUOTE(888-Alien @ Apr 7 2023, 09:10 AM)
Many security company claim that their Nepalese guards are Gurkha ex army soldier, this is bullshit, but Nepalese guards are generally better than local guard which is more disciplined and patience, my Taman is lying RM9.50/hr now, a rise of RM0.50 every 2 years which I think is acceptable.
Usually a new RA pro tem can have 90% of residents to join as member, the remaining 10% is depend on the efficiency of the RA’s operation to convince them.
While Legasi 1&2 are getting their keys now, I do suggest that Legasi 3&4 owners join to discuss this matter, someone need to champion this.
*
I have been dealing with security companies as I was in the JMB/MC for my condo for more than 5 terms. So, RM9.50 is depending whether the market has sufficient workers, consider foreign workers are limited currently post covid era. Local security guards are not that bad as I have been dealing with them as well. To be honest, i trust local security guards more than foreign/Nepalese guards, because like you said, they are not ex army or whatsover for this price range, Gurkha ex army security rate is at least RM15 per hour.

For now, SP Setia will take care the security. L1 already VP, not sure about L2 or L3. Only when L4 is VP, then we can only decide how many entrances, else it will be unfair to them as well. That's my 2cent again.


888-Alien
post Apr 7 2023, 09:49 PM

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QUOTE(rumahwip @ Apr 7 2023, 10:57 AM)
just wonder, which legasi did u brought?
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I am not the owner but friend does purchase
888-Alien
post Apr 7 2023, 09:55 PM

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QUOTE(alen_wong38 @ Apr 7 2023, 03:19 PM)
I have been dealing with security companies as I was in the JMB/MC for my condo for more than 5 terms. So, RM9.50 is depending whether the market has sufficient workers, consider foreign workers are limited currently post covid era. Local security guards are not that bad as I have been dealing with them as well. To be honest, i trust local security guards more than foreign/Nepalese guards, because like you said, they are not ex army or whatsover for this price range, Gurkha ex army security rate is at least RM15 per hour.

For now, SP Setia will take care the security. L1 already VP, not sure about L2 or L3. Only when L4 is VP, then we can only decide how many entrances, else it will be unfair to them as well. That's my 2cent again.
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Just let Legasi 1 & 2 owners set up their RA, from my experience unless someone willing to take up the task, if not it may wait 6-12 months or 30% occupancy rate after VP to initiate the RA forming, mostly watch and see.

SP Setia is not likely to handle security issue
888-Alien
post Apr 8 2023, 01:15 AM

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QUOTE(Hermes Aspiration @ Mar 22 2023, 07:45 AM)
No, I never expect price will drop because one can find it at below RM 1.4mil and I not interested during RM 1.3mil nego due to some feng shui matters. Someone mentioned at RM 1.5mil, it could be asking price before nego or someone bought it desperately.

The DSTH near Irama side is slightly better because nearer to golf side, but the only disadvantage is lower land. I forgot that one is 100+ or 200+ units of 22x80.

I personally feel don't rely on KL Wellness City because it was a difficult project to be fully materialized and take longer tenure to complete. Pavilion BJ could be the factor.
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In general BK8 land is high at 40m-50m, which is silmilar to BK5 Permai and Desiran, BK1-BK4 are around 30m,
For wellness city, after I visited the site during the official site opening, I don’t it is a good bet, developer is very vulnerable, with 28 acres of land projecting RM11BN is crazy and u realistic, Pavilion City of 60 acres only hit GDP of RM8 Bn, I told the sales lady that the project is very risky.
And to my expectation 70% of the said parcel being alienated and sold to 3rd party.
IronManz
post Apr 9 2023, 10:48 PM

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QUOTE(888-Alien @ Apr 8 2023, 01:15 AM)
In general BK8 land is high at 40m-50m, which is silmilar to BK5 Permai and Desiran, BK1-BK4 are around 30m,
For wellness city, after I visited the site during the official site opening, I don’t it is a good bet, developer is very vulnerable, with 28 acres of land projecting RM11BN is crazy and u realistic, Pavilion City of 60 acres only hit GDP of RM8 Bn, I told the sales lady that the project is very risky.
And to my expectation 70% of the said parcel being alienated and sold to 3rd party.
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If it takes a long time to develop the integrated city, by the time it does, there won't be many years left in the lease. Going for freehold integrated developments is more worthwhile.
888-Alien
post Apr 9 2023, 11:05 PM

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QUOTE(IronManz @ Apr 9 2023, 10:48 PM)
If it takes a long time to develop the integrated city, by the time it does, there won't be many years left in the lease.  Going for freehold integrated developments is more worthwhile.
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I don’t see leasehold is a big issue
If the location is the same, and the price is different by 10%-20%, take freehold for sure, however different by 30% or more, leasehold could be a good bet
Many people can’t really figure out how long is 99 years
- Imagine if a man purchases a leasehold house at age 30, the lease remains is 99 years, assuming his son just born
- assuming he lives till 80 years old, the lease remains 49 years, his son already 50 years old, his grandson already 20 years old
- after his son pass away at age 80, the lease remaining 19 years, the grandson is already 50 years old, the great-grandson already 20 years old
and so on…

In short, a 99 years lease is able to let 5 generations to stay

When come to the expiry date, the current cost of renewal is about RM30,000 for another 99 years (5 generations)

I foresee Bukit Jalil will overtake Mon’t Kiara as more vibrant city in 2035-2038, my guess

IronManz
post Apr 9 2023, 11:35 PM

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QUOTE(888-Alien @ Apr 9 2023, 11:05 PM)
I don’t see leasehold is a big issue
If the location is the same, and the price is different by 10%-20%, take freehold for sure, however different by 30% or more, leasehold could be a good bet
Many people can’t really figure out how long is 99 years
- Imagine if a man purchases a leasehold house at age 30, the lease remains is 99 years, assuming his son just born
- assuming he lives till 80 years old, the lease remains 49 years, his son already 50 years old, his grandson already 20 years old
- after his son pass away at age 80, the lease remaining 19 years, the grandson is already 50 years old, the great-grandson already 20 years old
and so on…

In short,  a 99 years lease is able to let 5 generations to stay

When come to the expiry date, the current cost of renewal is about RM30,000 for another 99 years (5 generations)

I foresee Bukit Jalil will overtake Mon’t Kiara as more vibrant city in 2035-2038, my guess
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You're right, if we aim not to sell it off. For an LH property with not many years remaining, may be harder to sell / buyer to get loan
888-Alien
post Apr 10 2023, 10:11 AM

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QUOTE(IronManz @ Apr 9 2023, 11:35 PM)
You're right, if we aim not to sell it off.  For an LH property with not many years remaining, may be harder to sell / buyer to get loan
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Leasehold property is usually cheaper, if you own a leasehold property which has lease less than 60 years and wish to dispose it, you may opt for to 99 years renewal with paying premium, top up remaining years till 99, Selangor land office usually will approve your application, unless that the government has specific project that need to take back the land, but in this scenario, freehold property is not perpectual under NLC compulsory acquisition.

Freehold property is limited now and not cheap, wisely choose the house to stay, for property buyer who look for own stay, location shd come 1st, then only think of future appreciation issue.

IronManz
post Apr 10 2023, 10:39 AM

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QUOTE(888-Alien @ Apr 10 2023, 10:11 AM)
Leasehold property is usually cheaper, if you own a leasehold property which has lease less than 60 years and wish to dispose it,  you may opt for to 99 years renewal with paying premium, top up remaining years till 99, Selangor land office usually will approve your application, unless that the government has specific project that need to take back the land, but in this scenario, freehold property is not perpectual under NLC compulsory acquisition.

Freehold property is limited now and not cheap, wisely choose the house to stay, for property buyer who look for own stay,  location shd come 1st, then only think of future appreciation issue.
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Own stay for own generation is ok. For it to last until future descendants will have to consider the FH LH factors.

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