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SITE PROGRESS: Residensi Permatang Pauh (Sep 2020)

September 29th, 2020 No comments

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About Residensi Permatang Pauh

Affordable housing undertaken by Excel Focus Properties Sdn. Bhd. It is strategically located within the established township of Permatang Pauh, only about 500 meters away from Butterworth-Kulim Expressway. Neighboring communities include Taman Naluri, Taman Naluri Ria and Taman Janggus Jaya.

Find out more about Residensi Permatang Pauh

Register your interest here

*By submitting this Form, you hereby agree to our PDPA Consent Clause.
(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

220,000 units of affordable housing for Penang by 2030

September 28th, 2020 No comments 中文版

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Penang State EXCO for Town & Country Planning and Housing, Jagdeep Singh Deo set a new target of 220,000 units of affordable housing (RMM) to be built by 2030, supporting the current economic environment and demand.

The targets include low-cost (Type A) and low-medium cost (Type B) and affordable housing which cover three categories of Type C1 (maximum price RM150,000), C2 (RM200,000) and C3 (RM300,000).

“This new target takes into account the impact of economic uncertainty, challenging living environment and current situation that is still worrying as a result of the outbreak of COVID-19 to affect our economic situation. This new target will be proposed at the upcoming Exco Meeting.

“With the current situation as a result of COVID-19, who can afford to buy expensive houses… while to continue their daily life.

“Indeed, it is still necessary to continue development in Penang as to increase the supply of affordable housing, as well as the welfare of the people is maintained.

“Therefore, by 2030 and there are still 10 years left, we (State Government) believe that the demand for affordable housing is always there and therefore I have set a new target to build 220,000 units of affordable housing in Penang by 2030,” he said at the Artis 3 low-medium cost handover ceremony near Jelutong here this morning.

The Artis 3 low-medium cost housing project, developed by Duta Mas (Airmas Group), comprises a total of 158 units and is also equipped with surau, multipurpose hall, three reading rooms and management office.

Source: Buletin Mutiara

 

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Geranium @ Botanica.CT

September 28th, 2020 No comments

geranium-botanica-ct

Geranium @ Botanica.CT, the latest addition to the 300-acre Botanica.CT garden township development by MTT Properties Sdn. Bhd. in Balik Pulau. It is surrounded by lush greenery and natural streams flowing from nearby hills. It also offers a wealth of amenities all within close proximity, including F&B outlets, markets, hospital and Prince of Wales Island International School (POWIIS).

The project, also known as Phase 5B, is located diagonally opposite Prince of Wales Island International School. It comprises 28 units of double-storey terrace houses with a built-up area of 1,750 sq.ft. onwards.

Property Project : Geranium (Phease 5B)
Location : Bonanica.CT, Balik Pulau
Property Type : Terrace
Land Area: (to be confirmed)
Built-up Area: 1,750 sq.ft.
Tenure : Freehold
Total Units : 28
Indicative Price: RM6xxk onwards
Developer : MTT Properties & Development Sdn Bhd

Register your interest here

*By submitting this Form, you hereby agree to our PDPA Consent Clause.
(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

Location Map:

 

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7 reasons why property owners need landlord insurance

September 27th, 2020 No comments

landload-insuranceBy See Kok Loong

Insurance is one of those things that some people mistakenly think isn’t worth the cost.

Unfortunately, that’s why too many people choose not to take out appropriate insurance cover to insure their assets as well as their incomes.

When it comes to insuring their homes, most Malaysians only insure because of the bank requirement due to mortgages.

One specific type of insurance is not on the radar of all property investors – but it should be.

Landlord insurance ​covers property investors for a variety of events that can result in a financial loss to you.

Plus, it’s​ tax-deductible​, too.

While landlord insurance policies can and do vary, there are a number of inclusions that are usually standard or optional extras.

1. Rental loss

You can insure your investment property for loss of rent, but that doesn’t mean during periods of vacancy. (Both for commercial properties as well as residential properties with different insurance company in Malaysia)

Rental loss is when your property is damaged, perhaps by a storm or flood, and it is uninhabitable for a period of time.

You can insure your property for such an event, but you must be able to provide evidence of everything, including the exact rental loss that you have experienced.

2. Rent default and theft

Unfortunately sometimes a tenant’s financial or personal circumstances change and they can morph from an ideal tenant to a worrisome one.

Sometimes they may just stop paying the rent for 2 months and more with all sorts of excuses and then by the time you manage to contact them that they’ve already left the place and left over with a lot of outstanding utility bills such as TNB, Syabas, IWK and Telephone bills.

A landlord insurance policy can cover you for rent defaults in such a circumstance.

It can also provide coverage for theft, such as if that tenant also took white goods with them, because your property was partly or fully furnished.

3. Malicious damage

During your property investment journey, your portfolio will need to be constantly maintained because of the wear and tear of tenants living in them.

Of course, tenants are protected from paying for normal wear and tear under the tenancy agreement.

But sometimes damage can be done to your property that is not normal – in fact, it’s malicious or even vandalism.

Perhaps your tenants hosted a party that got out of hand and significant damage to the walls was sustained or the kids of the family dick a holes in the wall for certain unknown reasons and etc.

In that instance, unless your tenants are prepared to pay to have the damage remedied (but you’ve probably given them notice to leave anyway), you can claim for your financial loss through an appropriate landlord insurance policy.

4. Legal costs

Appointing a lawyer to issue a letter of demand for the outstanding rents is the first step by the landlord. However, for a layman landlord to engage a lawyer and pay for the professional fee might not be simple as we can imagine.

The landlord insurance policies can provide additional cover for legal expenses that are incurred in remedying an issue with a tenant, such as issuing legal cost for the letter of demand (Up to twice a year) .

5. HomeFix

Older buildings also face situations such as burst pipe, theft break in that spoil the door lock and etc. We understand that with a small premium that only costs below One Hundred ringgit per annum, you can cover the above risk and have a peace of mind especially if it is an investment property whereby the landlord is not staying nearby.

The coverage will come in handy and reduce the argument on the cost of repair between the landlord and tenant.

6. Mortgage loan installment protection

Mortgage loan installment protection is a coverage for Malaysian landlords whereby in the event there the residential properties are deemed temporary uninhabitable or the landlord is accidental death or permanent disablement and the insurance will come in to cover a 6 month mortgage installment or a benefit amount. (There is some similarity with personal accident insurance but the benefit is to cover mortgage)

7. Public liability

One of the most significant benefits of landlord insurance is its public liability cover especially commercial properties or property with common area.

Most policies should provide cover, which insures you against events such an injury or death that occurred at your property.

This is insurance for you as the owner if the tenant or a visitor injures themselves, or worse, at your property and decide to take legal action against you.

The bottom line is that landlord insurance should be an automatic part of every property investor’s portfolio.

It’s always advisable to double-check the fine-print to ensure the policies cover you for the basics, plus any additional extras like flooding in Klang and etc.

While landlord insurance policies do vary, they usually only cost a few hundred ringgit a year, which is a very small price to pay for peace of mind, don’t you think?

 

Mr. See Kok Loong, Executive Director of Metro Homes Realty Berhad and Propdone Sdn Bhd​ (General Insurance Agent with Allianz Malaysia).

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UPCOMING: Nibong Tebal / Golden Rainbow View SB

September 26th, 2020 No comments

proposed-development-by-golden-rainbow-view

Yet another landed residential development proposed at Nibong Tebal. Undertaken by Golden Rainbow View Sdn. Bhd., this development is located along Jalan Teluk Ipil adjacent to Kerian River. It is less than 5 minutes drive from Nibong Tebal town centre, neighboring with Taman Ipil Permai and D Vibrant by Chye Seng Group.

This development comprises 48 units of single-storey terrace houses with 2 design types to choose from.

The project is still pending for approval. More details to be available upon official launch.

Project Name : (to be confirmed)
Location : Nibong Tebal
Property Type : Residential
Tenure: Freehold
Built-up Size: (to be confirmed)
Total Units : 48
Indicative Price : (to be confirmed)
Developer : Golden Rainbow View Sdn. Bhd.

Register your interest here

*By submitting this Form, you hereby agree to our PDPA Consent Clause.
(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

Location Map: