Good for u man. No debts.

This post has been edited by oldtimer05: Apr 6 2020, 06:23 AM

You serious ?

Who go n report me lah ? Its not that i ve opened a thread about covid. I am talking about property status during this time, who so butthurt hah ? Can call him/ her idiot or will need bail ?

for me,

commercial will give 50% to 100% waiver for April rental, which i already granted for tuition centre, fnb. got workshop not yet approach me....

for residential, sorry no. unless you telling me you lost your job or your a self employ and the only who support the family, then yes..

time is tough for everyone, tenant cannot abuse this time and simply ask for free rental..

I am about to retire soon so i don't want to carry any debt (loans) after i retire as i am very conservative. I have quite a lot of retirement fund (now all moved to cash from a very aggressive position before) after having lost about A$155k in 4 weeks. I can't move my cash to USD (which is a lot safer) so have no choice but to keep it in AUD. The AUD keeps falling so i am afraid by the time i actually retire, the AUD will have dropped even more. Best at this time to hold USD.

Just posted something similar in another thread but will re-post it here too since it's on the same topic.

For me, I've varied my approach according to the tenant profile. For those who are not really impacted (students and white-collar office employees), I've maintained the rental although I've given flexibility in terms of payment timing (allow 2 weeks delay). At the same time, I have one tenant (foreigner) that is doing his own retail business, selling clothes. Thus, for him, I've given him a 20% cut for this month first since his income is badly impacted. Doesn't really hurt me too since my own regular income is still intact. But I know of a friend whose income is badly impacted (he's a pilot), and thus, he is maintaining his rental although his tenant's income is also impacted. Can be quite complicated huh.

By the way, for those who haven't heard of SpeedHome, I highly recommended it. Been using it twice and I'm fully satisfied and convinced. Instead of giving a month's commission to a real estate agent, I now get full insurance coverage for my unit and also additional value added services.

https://speedhome.com/

No regrets at all. Every landlord should try out SpeedHome and see how much better it is compared to the traditional route of appointing a real estate agency.

Good for you, nicely positioned for retirement. Your positioning is something very normal that most people will do, to shift from an aggressive portfolio to a more conservative one, once they start entering into their golden years. Unless your main income is still intact (be it in business or active employment), then you might want to consider maintaining your aggressive portfolio.

Nevertheless, you still will work out some action plan for your Mont Kiara unit, right? Letting it idle just like that, doesn't sound right. Although there is no need to serve any loan, it's still income loss. Since you are based overseas, perhaps can pass it to a relative or a trusted family friend to look into it?

Pardon for poking my nose into this, but knowing that a property is just sitting idle like that is something that bothers me. I always make sure that my units are all working with minimal downtime. ><"

The apartment is a fully furnished executive-style type so my wife wants to only rent to expatriates. After this pandemic, i doubt there will be many foreign executives left. A lot of overseas executives will probably not be needed anymore (due to business downturn) so i think Mt Kiara will probably be full of empty units in the next few months and will probably stay like that for at least a few years. I suspect landlords will probably engage in a rental war (with rents being slashed drastically) in the next few months. My wife is very choosy with her tenants and she is in a financial position to even cut rental by 50-60% as the rental is just additional income on top of her monthly pension she gets from her Australian superfund (epf). Even without that rental of this 3+1 bedder, she can afford to spend quite comfortably.

I am in very secure employment working in a semi-govt job and if i am retrenched (which is what i am hoping for!), i can get a very big payout because i have worked in my current job for more than 29 years now. My wish is to get a redundancy as i am on quite a high pay so getting one will probably bump my retirement bottom line by another 30%. The only thing i am worried about now is the strength of the Aussie dollar (as i intend to retire in Msia).

If that's the scale of the rent against the monthly pension, then yeah, I guess the rental is really insignificant. At a certain stage, if its really minute compared to the main income, it can then become like a pesky fly....having to manage and yet, contribution is measly on the larger scale of things.... ><"

The Ringgit has indeed appreciate quite a fair bit. When I visited Melbourne back in Dec 2018, it was only 1MYR = ~AUD3.05. Based on what you've shared, if you were to be in Malaysia with one of the top MNCs/GLCs, and receive a severance package, it can go up to as high as 60 months worth of basis salary.

I have a lot of long service and annual leave which will be added onto the payout and we get quite a big tax concession (calculated based on number of years service). I have lost about 20% due to currency loss and just under 10% for capital loss so getting a redundancy payout will about make up for my shortfall. My siblings in Sydney are advising me against taking up a redundancy (if it offered) as it will mean i will have to retire permanently now. My siblings were telling me that if i can work another few more years, i can easily add another 30-50% to my retirement bottom line and this will be much more a preferred path (financially). I will just leave it to my fate to decide on my destiny.

yes i get you; if there is any rental amnesty, it should be at a personal level; i know many friends who forego rentals as their tenants are poor to start with