New Tenant In Domain

This is a post recording my gratitude that my old Japanese tenant moved out this morning, and a new tenant from moved in at night right away.
J and I went to the apartment to hand over the keys and collect the deposits and was flabbergasted to see the condition of the apartment.  It is so dirty!  The students don't clean up.  When my Thai tenant was there, it was so much better, because he acted as the housekeeper.

The apartment was messy like this

Even J, as a guy, couldn't stand the mess and dirt, he cleaned the toilet and mopped the floor. I threw out the trash, picked up the books and drawing tools from the floor, swept the floor and cleaned the kitchen sink.
It was amazing, that in the state that it was in yesterday when the prospective tenant came to view; he agreed to take the room.  Maybe, it was just the right timing and he had no other choice.
Whatever it is, after he settled in a bit, I am going to grant them a one-time maid service to thoroughly clean the apartment.  I think it is the least I can do to make the environment a little more bearable.

Photo used with permission from http://www.wiehanne.com/2009/03/05/talk-about-lazy-housemates/

"0" Cashflow

I am actually very thankful.
I bought a property last year with negative cashflow.  
I bought it because of its good location, potential to appreciate and because of the rarity of properties for sale in that area, which I have been targeting for quite some time.  However, the bad point is I would be in negative cash flow every month.
I calculated the time to expiry of the current tenancy, and decided to bear with it.  So when it expired last August, I raised the rent.  I checked the current market rate and persuaded the tenant to accept it 2 months before expiry, we negotiated back and forth. Thankfully, they accepted it.
So now, I have gone from negative to "0" cashflow.  And my property paper value has appreciated.
So I am thankful!  Yeah!

TNB change of name - Part 2

Following my previous post of the requirements of TNB change of name process when you take over a new property, here is my experience at Kedai TNB Jalan Selangor Petaling Jaya.
Of course, yesterday is the 1st day of work after the long Raya weekend.  I took a number for applying for changing name, and there were about 20 people waiting.  When the owner came, she said she has not paid the last bill yet, so we'd better take a number for the payment of bills.  There were 70 people waiting!
So when it came our turn, we asked about the bill, and the officer who was very helpful said, no problem, she could just knock it off from the owner's deposit, instead of the owner queuing to pay the bill.  We were relieved.
Then it was time to change to my name and I had to pay a new deposit for the new account number.  This time, she said I had to pay at the payment counter, and by this time there were 40 people waiting (from the queue number that we first took).  Luckily I didn't throw away my number slip for the payment!
So, lesson learnt, when entering TNB to do new account ownership, always take 2 numbers, 1 for payment and 1 for change of names.  Unless there are not many people waiting but you will never know.
So for the whole fiasco of going to LHDN for stamping (which has hardly customers) to the TNB, it took me a total of 4 hours going there and coming back.

P/S: One more thing: I discovered that TNB Jalan Selangor offers the stamping service for their clients (just pay them RM20), unlike TNB Taman Melawati who insists that you go to LHDN to stamp yourself.  For verification, call them before going.
PP/S:  If you need the soft copy of the TNB forms, please call TNB careline, they can email you in advance for you to go to LHDN for stamping, so you don't have to go to TNB twice.

Terminal Pahlawan, Hatten Launch, Aug 2012

Hatten group is launching Terminal Pahlawan which is a new retail hub integrated with bus station. 

It is the new expansion to the famed shopping district of Pahlawan City. With the launching of Terminal Pahlawan, new retail lots are linked to the existing Hatten Square and near the newly opened Hatten Hotel.

COMMERCIAL RETAIL LOTS
Terminal Pahlawan consists of two (2) main blocks interconnecting – Hatten Square Wing and Coaches Wing. Terminal Pahlawan will be providing 30 coaches bay for hotel and tourists.

 *2.5 Acres of Shopping Complex / Retails *4 Floors for Retails with 3 Floors Car Park * Total 250 units  * From 65sf – 1500sf * Expected Completion 2nd Quarter 2015  
Bookings:
* Earnest Deposit of RM10,000 upon booking and signing OTP/OTR
*Leaseback 2 years – Compulsory Lease Back 15% for 2 years
-  7% p.a. guaranteed return for 1st year
-  8% p.a. guaranteed return for 2nd year (hence add together is 15%)
-  Thereafter, the Developer may exercise the option to renew the tenancy for another 2 years at the rental of not less than 8% per annum based on Purchase Price
* Launch Discount of 10% on 10-12 Aug 2012, at Hatten Square Ground Floor  (see note below on 15% discount)
* Legal fees and disbursements on SPA, DMC, TA and PA waived (panel solicitors to be appointed by Developer)
* Legal fees and disbursements on loan documentation to be borne by Purchaser
For more info, call Hatten sales gallery: 06-2812882.
You can check out the unit layout plans here: http://www.hattengrp.com/WebLITE/Applications/news/uploaded/docs/TerminalPahlawan.pdf
Anyone who wishes to purchase a unit, please contact me for recommendation, we will share the cash recommendation fee of RM1,500 (RM750 each).  Happy investing!


An update:  Total buyer's discount is 15% if booking is made before 9 Aug 2012. From 10-12 Aug it is 10%, plus every buyer gets a Samsung note (please confirm with the sales dept, they keep on changing the info.)

Regalia in pictures

Stepping into Regalia for the first time today, with "uncofirmed" information that the VP is in Aug/Sept 2012.

Infinity skydeck pool

Show units

Aircond con-man

Today I discovered that I have been conned by the aircond repair guy.
On Saturday, the company that I called sent 3 guys to service my airconds at Shang Villa, and discovered that 1 compressor is not working and needed replacement.  One guy called me and said that a replacement would be about RM400 inclusive of labour.  I asked when this can be done, and he said that I need to make another appointment with his company before they can set a date for me.  I decided to call on Monday.
Then yesterday (Sunday) I went to the condo to repair the minor things like the bed and the leaky pipe.  While that was going on, 1 of the 3 guys who repaired the aircond showed up and said he was going to change the compressor now.  I was surprised because he didn't call me to make an appointment, but since the tenant recognized him as the guy who came yesterday, I didn't suspect anything.
He made repairs and in about 30mins, said that he has completed the job.  We left the aircond on to test it, meanwhile the guy collected the money for repairs and for servicing the other 2 airconds on Saturday.  He even went downstairs to his car with the money, came back to write me a receipt and put his handphone number on the receipt, saying I was to call this number for a 5-month warranty.  Then we all went home.
At night, the tenant called to complain that the aircond wasn't cold at all, the replaced compressor did not make any difference.
So today (Monday), I called the office to complain.  I got a shock when the office receptionist said they did not send anybody on Sunday, because they don't work on Sundays.
Then I called the number that the guy wrote on the receipt, and a guy answered and said this was for a massage parlor service!
When I related to the office about the whole incident, then they realized what happened.  Indeed that guy was one of the workers of this aircond repair company, but he was terminated for dishonest behavior on Saturday.  My condo was his last job under that company.  So this guy had actually came in his personal capacity to collect the aircond service money from me, giving me bogus receipts and all.
At the end, to cut a long story short, the company's boss called up personally to apologize for all that has happened, and asked me to install a new aircond instead of trying to replace another compressor, giving me a discount, so that when I calculate the costs of aircond replacement plus the servicing (that the company didn't receive a cent for), both the company and I more or less broke even.  The only person who "untung" was that con-man, who earned from me and the company.
Anyway, as this is a blog of gratitude, I am posting this here because I am grateful for a few things:
1. The company dealt with this incident professionally and honestly, without demanding that I pay them the rest of the service money.
2. New Fujiaire aircond was installed the next day, with warranty card and all, and tenant was very happy with the service.

3. At the end of the day, I didn't "rugi" a whole lot, just learnt a lesson on safety as well.
So I will continue to use this aircond servicing company.   I learnt that aircond companies do not let their contractors contact client personally for service appointments, all of that has to be done with the office.  Anyone wants a reliable aircond contractor with professional and responsible services, here it is:  Fine Air Services, Sri Kembangan, tel: 03-89482213.

Shang Villa is tenanted

I am so grateful that without having to worry too much, Shang Villa unit is rented out safely by a couple.  It was a case of today view and book, tomorrow move in.  Whao, I felt "kelam-kabut" for a while because there was a list of things to be done and in a hurry too!

Thankfully, I have so much help from the agent, an old "Uncle". It is funny how at first I didn't like this agent as I felt he was too overbearing and controlling.  Then I decided to let go of any unsatisfactory feelings towards him, and the whole relationship changed.  I actually found him helpful and he managed to rent out my unit to whom I hope is a good, prompt-payment couple.
Yesterday I got the aircond people to service the 3 airconds, and 1 of them needed a compressor replacement.  I didn't even have to be there as the agent opened the door for them.  Also the apartment needed to be cleaned thoroughly and I couldn't believe it, the old Uncle agent got his maids to come do the cleaning FOC.  He said it was on him for giving him the business.  Wow! Thank You!
Today we went to the apartment as J acted as the handyman to fix a bed and change a bathroom tap. Baby Xin tagged along, she is now at the age where we couldn't go anywhere leaving her behind.  As a treat she got a box of M&S cookies from my new tenants, and she was very well behaved.
So there, hopefully no more follow ups to be done, fingers-crossed.