Gem in the KL City - 8000+sf bungalow land

Spent sometime with the owner of this piece of land this morning. I am glad it is not widely known of its availability, or else I will not have the chance to help the owner sell this piece of land - 3.45km from the Kuala Lumpur Petronas Twin Towers, in a quiet surrounding.

At only slightly more than RM210 per square feet, it is cheaper than most of the bungalow land in the outskirts of Kuala Lumpur. A steal.

Too bad I do not have enough money, or else it is mine, without any hesitation.

What is the right price?

I had a most interesting encounter this morning.

I was showing some properties at a high-end condominium project when an owner came up and ask if we (one tenant, 2 agents) are agents. Well, before I could open my mouth, the other agent quickly 'claimed ownership' of this owner. Kept him busy with lots of 'verbal diarrhoea'. We then proceeded to the owner's unit. This lady acted as if she is very familiar with the property, when it was her first visit to the project.

We saw the unit shown by the owner.

The unit is easily worth RM8k to RM10k. The agent's tenant who was with us has a budget of not more than RM4k.

What transpired was interesting. The agent actually asked the owner to lease his unit out at RM4k and the justification was the market condition, etc. What a load of rubbish. This is one of many agents who try to match a deal without considering the consequence - short and long term.

Let's take the perspective of the owner. If he was to lease at RM4k, his return on investment is <4%. I guess only an idiot will do that. An agent who push the price to half the market is a lousy agent, and owners should not give them opportunities to even look at their properties, not to talk about representing them.

And the perspective of the tenant? If an agent can try, although bound to fail, to push the price so low, she will not flinch from doing the opposite. Let's say they view a property that is worth only RM2k. I would not be surprised that she will strongly market that property at RM4k so as to get more commission. If I were the tenant, I would drop her.

The long term consequence if this was successfully matched? Owners will want to sell. Some may not pay management fees on time. Undesirable tenants, etc. Total downgrading of condo, and maybe surrounding condo's as well.

Your thoughts?

Apartments for Rent/Sale at 231TR @ Jln Tun Razak

Have a couple of units for rent and sale. Posting some photos of one studio that is fully furnished for rental. Rent is at RM2,400 per month. Good value

view from entrance

view of living / bedroom

view of bedroom

view from balcony

view from balcony (Royal Selangor Golf Club)

Jacuzzi and pool and other facilities on the 6th floor

lobby

Rogue Real Estate Agents

A rather provocative title, but I feel that there are just too many of them in Malaysia. I certainly would love to hear from you whether you have encountered any.

One example that comes to mind:

Agent X responds to advertisements placed by Agent Y. Agent Y shows property to Agent X who, on the day in question, either do not turn up, or turns up and said that his/her client could not make it. All the time, Agent X do not have a client.

Once viewing is done, Agent X then proceeds to search for the Owner/Landlord and works toward securing the unit.

Should the board be tough on these? I think so, but sadly...

The Real Estate Agent's board clearly states that physical office of agencies cannot just be established without their approval, and for one to be approved, the applicant need to be a licenced agent. Megaharta have a presence at a luxurious condo in KLCC. A check with the Board confirmed that they have not received any approval. Well, they are still there.... Malaysia Boleh

Seri Maya Condominium in Kuala Lumpur (to Let)

This condominium is located right next to a Light Rapit Transit Station (Setiawangsa). Train ride to KLCC (Twin Towers) takes only approximately 7 minutes.

If one drives, two hypermarkets are only 3 to 5 minutes away. The 2 minutes is to allow for traffic light at the junction(s).

The condo itself is very well managed. One of the best managed in Kuala Lumpur. Comes with full facilities

As in the rental of any property, it is important to have a good landlord. This landlord comes recommended - easygoing and nice. Rental for this furnished unit is just over USD1,000

Some pictures of the condo and the unit for rental

Idaman Residence, right next to KLCC Petronas Twin Towers

There are a couple of units worth looking at. Price very reasonable. Very new. Some photographs to share here

There are a couple of units that comes with private gardens. Yes, you read correctly, private gardens.

Leisure Farm Resort - Johor (Gelang Patah)

An exclusive resort living, right at the heart of the next Johor administration. And only approximately 30 minutes to Orchard Road, Singapore. Sentosa island is closer!

Available for rental. Partially furnished. Will let the photographs talk!

Vista Damai @ KL City Centre (KLCC) for rent / sale

A very nicely decorated (yes, the owner used an interior designer to beautify the place) apartment with a magnificent view of the Petronas Twin Towers is now available for either rental or purchase. Some images to whet your apetite. Can always contact me if interested.

Monetary requirements from Tenants

I was asked by a prospective tenant the amount of money she should pay to secure a property (for rental).

The standard practise in Malaysia is:

1 Month advance Rental payable as earnest deposit to book the place
2 Months security deposit upon signing the Tenancy Agreement
0.5 Months utility deposit at the time of signing of Tenancy Agreement.

Upon the termination of the tenancy, these deposits will be returned, less damages or utilities not paid.

Amcorp Mall Apartment to Let

Just showed a unit this afternoon to some prospective tenants. Just for completeness, here are some photographs. Rental very reasonable - at RM1,600 (inclusive of one car park)

Full details can be seen in the Advertisement posted in StarProp