Lowyat.NET: Latest topics by leeboy

Condo insurance, any recommendations?

leeboy — Wed, 02 Jan 2013 01:16:58 +0800

Just took posession of the keys and would like to purchase insurance for the unit (cpver against internal damage due to fire etc, content, and so on). I know condo JMB also got buy insurance but it is for the whole dev atruxutre, not the individual units.

So any good insurance to recommend? Cheapest?

S'pore view of M'sia properties, is it true?

leeboy — Thu, 15 Nov 2012 09:44:18 +0800

No offense, just want to seek the comments of true blue malaysian.

Was discussing about investing properties in malaysia, i for one is attracted to klcc area and i think malasyai properties has more rooms to grow. But the skepticals friends of mine has this to say:

"In Malaysia you can borrow 110% of the property.

Land in Johor, you can buy and sell to yourself and make money."

"I listened to this guy from KL, I think, around late 20+, owns 14 properties, mainly very small units or share with others.

In Malaysia, all these are possible with M$5000-M$10,000 downpayment. The developer will jerk up the selling price for the purpose of application for bank loans."

How true are the comments?

Advice needed - Renting out condo unit at KLCC

leeboy — Tue, 13 Nov 2012 16:56:37 +0800

Hi all!

I am about to collect the keys for my resale condo unit that is some where near KLCC.

May I seek you input on these matters:

1. The agency whom sold me the property quoted me that the following, let me know your thoughts:
- Finding tenants, commission is 1mth for 1 year tenancy
- To manage the property, 8% of the monthly rent (will help in collecting rent and look see)

2. I am required to change name of the various stuffs (Tenaga, Indah, Gas, DBKL etc). They said they can help me in the name change for RM2500 (include all fees, deposits, stamp fees etc). Is this way too much for the convenience?
- Wouldn't it be better for all the utilities to be under the name of the tenants? But I was told that it is better to have the utilities under owner name so that in the event of late or no payment of rent, owner can cut the utilities supply. Is this the usual practice?

3. How much does it cost to provide a general cleaning of a condo unit (less than 1000sqft)? I am quoted RM400+

I would be happy to hear your comments and reccomendations too.

LeeBoy