Hey guys i has just bought a bare unit and wanted to renovate i wanted to get a rough idea on a 2 rooms condo normally how much does it cose for a really basic renovation just to rent out the property?

I know it may difers when you buy different brands of utilities or furniture but lets say the really basic one. how much will it cost? i estimated around 10k for 2 rooms 600Sqr condo. would it be enough?

Your estimate is about right, but if you want to put in 3 airconds, kitchen cabinets, water heaters, curtains, lights sofa, dining, beds and cupboards with no electricals, then closer to 15k is more like it

This post has been edited by SotongBiru: Jun 17 2021, 11:34 PM

Lol interesting.. care to break down?

10k can only install bare necessities and everything as elcheapo as possible. To keep cost low you can DIY some things

Ikea Knoxhult (cheap enough to be 'condemnable') kitcab w installation 2.6k
LED lights, 3 KDK regulator fan (480), basic WH (280), all self install 1k
Ikea curtain rail (100 whole hse), 3 pairs curtains (390), basic klippan (800) 1.4k
Front door grille only from average elcheapo contractor 800
Ikea standing clothes rail 30/ea x2
Ikea Dining table w chairs 400
43" Mi smart TV 1300
300L class Fridge 1500
Painting 500 Easywash AND DIY

Already 9560. 400 bucks maybe use it for those Ikea wall mounted LACK shelves.

Exclude aircon, cheap microwave, bedframe and mattress. If too crappy tenant also run far far away, many choices out there now. I think microwave would be added advantage. My neighbour hari hari use one

This post has been edited by ceo684: Jun 18 2021, 12:03 AM

Approximately. I last did mine with 1 aircond for 12k.

Water heater + Curtains (1k)
3 Airconds + Installation and maybe piping (5k)
Sofa + Dining + TV Console (1k) (Maybe more)
2 Bedroom sets (2k) (Varies a bit)
Kitchen cabinets (4k)
Light + Fans (1k) (LED cheap)
Fridge (1k)

10k with furniture is only enough if you DIY.

Else 10k can only get you the basic fittings without the furniture if you get contractors to do it for you.

Grille- 2k
Lights- 500
Fans- 1k
Cabinet- 5k
Others- 1.5k

You won’t have leftover for furnitures

Where is your condo location and how much is the average current asking monthly rental ?

Who are the type of people who would rent your condo area? Student, Single, Young Couple ?

Over furnished and cant command asking rental is similar to paying tenant to rent.

For a 10k cost, the first month rental collection goes to agent and the next few months to cover cost. Worst, cheapo furnishing tend to have poorer quality and can lead to faster wear or damage where many landlords dont understand and push the fault to tenants.

Uncivilised tenant may damage or misuse furnishings leading to repairs or replacements and some rental deposits cant cover the cost.

When the next tenant comes, the cycle repeats hoping for a better quality tenant. Depending on individual, the next tenant may now want some recycled furnishing like a mattress !

A defaulting tenant will add further to a landlord's loss.

Under furnished can also lead to less demand and longer time to find a tenant. However landlord can reduce some cost by asking for a lower rent, i.e. lower cost equal lower asking rent.

As a new landlord, you have to do your homework. No one 10k or 20k or 30k fits all tenants all locations.

Is cost vs benefits.

20k for extra 200 per month....?

This post has been edited by mini orchard: Jun 18 2021, 10:30 AM

You DIY or ask contractor to settle for you? mind sharing the contractor?
your aircond got do extra electric meter to calculate the electrib bil for each room?

Water heater and aircond which one are you using? i heards aircond daikin or panasonic consider long lasting one.

Any suggestion for contractor from you? fans my house so small plan to put la one at the living hall than rooms just fit aircond inside will do.

my area is at kota damansara
still comparing around nearby property to know the average rental.
yup i agree with what you say and i am new to property industry a milennial trying to survive and fight against inflation.
thats why ask sifu sifu at lowyat to give advice.
i put 10K because my condo quite small so just a rough figure

People also give me suggestion to just rent out a bare unit with minimal renovation like water heater etc rather than fully renovate and rent room by room. what do you think?

thank you for your suggestion

Residential property is most headache part to manage. Too many petty things to tackle.

In my opinion, you have to target your tenant.

Renting basic reno to a family .... ceiling fan, lighting, heater, grille & curtain railing suffice. If he needs AC, allow him to install. Normally family tenants dont mind to do some self furnishing than paying a higher rental. He knows when he shift later he can take along.

But your 600sf is small for a family of 2 adults and few kids. A young couple starting out should find it ok but once they have kids, they will move. Space is important for a family tenant as they have more things.

Coming to singles, many would prefer furnished. They prefer to move in with just their luggage. The cost to furnish is much higher and many not willing to pay more for more.

You have more things to handle like ac or fridge not cold, wm cannot spin, heater, tv, squeaking bed and whatever.

Renting by room may only fetch 100 or 200 extra but if both fight, then you have endless headache ....he is dirty, he is noisy, he uses more ac, he never off common light ...all those problems. An existing female tenant may only want to share with the same gender so you only can rent the empty room to females limiting your rental income. What about race issues ? Macam macam problem.

Hope my answers can help in your decision making.

Normally if rent out to young couple for aircond part would you think that we install is better? incase they simply install any make it ugly.Renting out to couple may have less hassle it seems.
If got young couple what would be the really basic one is bed and bedframe needed too?

AC should be no issue. Many of the new condo now comes with pre wired points, so the installer wont simply install at other places.

Minor damage are expected in any rental unit. You cant love your property and yet let tenant to stay.

As for others, you can try used furniture shops. Better to buy a good branded used bed than a cheap new bed. So are other things.

Really thank you for all the info this is my first investment and i spend all my savings during my Uni life to invest. So abit anxious also.

If you have further questions, you can update this thread.

I am not sure how far is your condo to Segi Uni. There are many students looking for small unit and near to U. Example is Cova Villa which is opp Segi.

This post has been edited by mini orchard: Jun 18 2021, 03:19 PM

Aircon if points and piping all there is pretty cheap ard under 300 per AC aka std installation.
If piping NOT ready by developer pls add one more 0 for whole unit..coz hacking works to conceal is expensive.

This post has been edited by ceo684: Jun 18 2021, 03:16 PM

Wahh but normally new bare unit will have piping right?

Depends on developer.
Most likely between IDU and ODU dont have electrical wiring. If want to pull, pull 4 wires so inverter can be installed properly (LNE+signal). LNE 3 wire cable cannot support 4 function, normally kena modify to LN+signal without earth.

Ok maybe 1.5mm cable which is actually quite cheap, is too expensive for kiamsiap installer.
For power cable (LNE) between IDU and ODU use normal cable, so the ODU is properly earthed.
For signal even using cheap 2-wire twin flat cable (speaker wire) not even RM20 for the whole 60m roll also can jalan properly as LNE+S. Rather than sacrificing earth to run LNS without E.

If your condo is newly vped, there will be plenty of contractors around to choose from. Don't have to purposely ask for recommended contractors. Any contractor can do the job

Never rent out to students. They are noisy and will make your neighbours hate you.