A recently statistic shows that nearly 60% of KL citizen likes to invest their property in condominium or apartment rather than landed property. You can see a lot constructions involved of this high sky building in KL and Kelang area. The growing rate is like mushroom grow after the rain.
Why high sky properties are demanding? This is mainly due to the high rental yields. Below are some of the rental rate extract from The Edge:-
Building Rate per square foot (RM)
Menara Maxis 7.50
Menara Prudential 7.00
Menara IMC 7.00
We can not deny this is a good property investment where it generates handsome passive income to the investor. But do you that every parcel of this property needs title? I think plenty of people do not aware about it until the owner want to sale the property. This is a normal and actual happen to one of my clients.
A building more than 2 floors is requested and compulsory by Malaysia government to apply Strata Title under Strata Act 1985. In this kind of property, a management corporation is formed to maintain the general usage such as rubbish collection, painting, security service for high standard condominium and etc. So, how the management is going the charge the fund to the parcel owner? By assume. Please don’t against the laws, you will be in trouble. You know when you split the word “assume”. It will become “ASS” “U” “ME”. Sorry, please don’t keep in your heart.
In fact, this article is written mainly because of one of my client (XXX management corporation) request us to re-calculate the maintenance and sinking fund on behalf of them.
A lot of argument will be occurred if the management does not the laws. So, my advise is please refer to a qualify charted Land Surveyor to assist you and do not use “assume”. We are pity of the parcel owner. Some of them spent plenty of money but still end up with nothing. Hence, know your right before you invests in this high yield rental.
Why high sky properties are demanding? This is mainly due to the high rental yields. Below are some of the rental rate extract from The Edge:-
Building Rate per square foot (RM)
Menara Maxis 7.50
Menara Prudential 7.00
Menara IMC 7.00
We can not deny this is a good property investment where it generates handsome passive income to the investor. But do you that every parcel of this property needs title? I think plenty of people do not aware about it until the owner want to sale the property. This is a normal and actual happen to one of my clients.
A building more than 2 floors is requested and compulsory by Malaysia government to apply Strata Title under Strata Act 1985. In this kind of property, a management corporation is formed to maintain the general usage such as rubbish collection, painting, security service for high standard condominium and etc. So, how the management is going the charge the fund to the parcel owner? By assume. Please don’t against the laws, you will be in trouble. You know when you split the word “assume”. It will become “ASS” “U” “ME”. Sorry, please don’t keep in your heart.
In fact, this article is written mainly because of one of my client (XXX management corporation) request us to re-calculate the maintenance and sinking fund on behalf of them.
A lot of argument will be occurred if the management does not the laws. So, my advise is please refer to a qualify charted Land Surveyor to assist you and do not use “assume”. We are pity of the parcel owner. Some of them spent plenty of money but still end up with nothing. Hence, know your right before you invests in this high yield rental.
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