Popular place for rental as near to TAR college.
Many blocks. Section 1, 2 and 4
Rental around 550 for 2 bdrms. And 750 for 3 bdrms.
Leasehold.
Cost varies from 80k to 120k depending on location and floor.
Near Wangsa walk shopping center.
Bread & Butter Properties
Generate passive rental income
Sunday, August 1, 2010
Wangsa Maju - Section 4, Setapak
5 storey walk up flats, located near Wangsa Maju Lrt station. Setapak.
Popular place for rental as near to TAR college.
Many blocks. Section 1, 2 and 4
Rental around 550 for 2 bdrms. And 750 for 3 bdrms.
Leasehold.
Cost varies from 80k to 120k depending on location and floor.
Near Wangsa walk shopping center.
Popular place for rental as near to TAR college.
Many blocks. Section 1, 2 and 4
Rental around 550 for 2 bdrms. And 750 for 3 bdrms.
Leasehold.
Cost varies from 80k to 120k depending on location and floor.
Near Wangsa walk shopping center.
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5 comments:
Hi Chris, what will you be advised leasehold walk up apartment as bread and butter property? Take "wangsa maju -section 4" as an example. Many of this apartment has been many years ( old enough )and perhaps not many years lefted for the lease term ( 50 years left ? ) will you encourage for the leasehold property?
Anna.
These flats were built in the mid 80s. So there is still around 70 odd years left on the lease. Plus you can still renew the lease later on. There is no much diff between leasehold or freehold when it come to rental props. The most important thing is that there are people who want to rent them. And that is certainly the case with sek 4. It's close proximity to wangsa walk makes it very popular for businesses there to house their workers at the flats or for workers to rent as it's near to their workplace. Chris
Hi Chris, manage to find 70k low cost apartment, but agent told I am not able to buy it if for investment, is only for low income ppl to buy it, furthermore , is no tenancy agreement. Is that true? What should I do? Thanks. Anna
Hi Chris, manage to find 70k low cost apartment, but agent told I am not able to buy if it is for investment , it is only for low income ppl to buy it, furthermore, no tenancy agreement. Is that true? What should I do? Anna
Hi Anna you should check with your lawyer on this not just yr agent. One that specialise in conveyancing work will know whether the prop is low or medium cost, and whether the title can be transferred.
As the Low and medium cost properties are leasehold you need the land office to okay the transfer.
Low cost prop which is below 40k are suppose to be for the low income group. But even those you have many cases of non deserving people buying and staying. These are like the SPK flats. Personally I would not buy them as you may not be able to collect the rent - have written about this (on the preferred rental ranges). Even Dbkl can't collect.
So focus on medium costs. Above 40k flats. Sek 4 for example is medium cost and there's is no problem transferring title. But watch out if the seller is a Bumi and the unit is also a Bumi lot as there can be complications if you are non Bumi.
As for tenancy agreements. That's between you and tenant and you can insist on one failing which don't rent out to tenants who don't sign one. A good agent can help you sort this out.
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