So I have a property in KL that I would like to rent out. My guest will be out of the house in mid July - so the house should be ready by August
Its a 220k flat 3 bedroom 2 bath -The rental is between 900-1200 , the house is fully paid so I don't have to worry about mortgage fees.

I don't want to go through the hassle of finding tenants or managing the property as Im busy with my career and family

I don't know much about property management - I tried googling for information but its very hard to get concrete info in one place

So my questions are

1. Would PM manage 1 property? Im in the process of gathering funds to purchase another so expect another unit
2. How much would be the standard fees to find a tenant and manage the property of that price range mentioned above?

Please advise. Thanks

Max

Avoid those Airbnb management group etc will use yr property as Bangla house only

The normal agency fees for rental is 1 month.

You can discuss with the agent who secured the tenant whether he is keen to do PM. Fees range from 10 to 30% depending on monthly rental rate and whether is just only maintenance or include rental collection.

This arrangement is normally on personal basis and nothing to do with his agency.

Have it in writing his responsibilities and how he is paid to avoid misunderstanding in the future.

Do bear in mind that PM is not about debt collection. If tenant refuses to pay after few attempts, Landlord has to go through the normal legal means to recover arrears and evict tenant.

Post one time at mudah, and a lot of agents will contact you to "assist" to find you a tenant.

Just say yes as they will handle everything including agreement so u dont need to do much. but they will take one month rental fee as their fee. So you may not get the rental deposit if you set one month deposit.

Hi Max, you could go to iProperty and search for your property there and contact one or two or the agents there to rent it out for you.

The usual practice is they will take the 1st month rental.

Usual mutual agreement is 2 months rental as Security Deposit.

If you do not want your TNB bill to be under your name, get the tenant to apply for their own TNB account after the Tenancy Agreement is stamped.

If you dont mind for tenant to continue paying the TNB bills under yr name, collect a utility deposit as well. Management fees & sinking fund usually borne by the owner.

Hope this helps

SpeedHome service may be an option for you. At least they will collect rental for u

Normally is the utility bills paid by the tenant or the owner? Cuz I see a lot of advertisement water and electric are included in the rental. Hmm

Variable cost like electricity and water are to be borned by tbe tenant. Landlord is be unable to factor in the charges unlike homestay.

As for IWK which is a fixed monthly charge, it should be included in the rental to avoid any dispute.

For those doing sublet business or room rental or per head rental, normally the property management company will cover the utility bill and wifi and water filter if provided. But actually all these already factor in and included in the monthly rental.
Not inclusive of aircon usage, will have separated meter reading to clock the usage.
Majority will put a capping on the bill too. To avoid abuse. Example water + TNB cap at RM150 max.

Recently come across few companies providing one stop service from condo makeover (move in ready condition) to sourcing tenants to managing your condo & tenant.

Any sifus have any experience engaging such property management team?

speedhome was recommended by friends as less hassle. If you buy insurance, they guarantee your rental eg. if tenant dont pay, speedhome will pay you and claim from tenant. Sounds very good.