M Centura at Sentul KL City: Affordable Freehold Residence With Eco-friendly Features

Featured Source Image: Mah Sing Proprties, M Centura
Written by
: Syasya Nur
M Centura is indeed one of a kind. This luxury freehold is slated for completion in 2021. With a starting price of RM350,000, M Centura boasts of eco-friendly features and opulent facilities. Not only that, this property is a mere 5km away from KLCC for unparalleled convenience and accessibility.
3 Reasons to Invest in M Centura
1. Eco-Friendly Design and Construction
Mah Sing, the developer of M Centura, transplanted 450 trees aged 10 years and above during construction. This emphasis on sustainability is apparent in the building’s eco-friendly and tech-savvy amenities, which prove that comfortable housing can blend with environmental responsibility.
These green features include a top-grade rainwater harvesting system, vertical planting, and tree preservation. Owners of electric cars can utilise the electric vehicle (EV) charging stations located within the property.
2. Lifestyle Resort Facilities
M Centura’s condo facilities offer opportunities for recreation and relaxation. Check in to the exclusive floating gyms, each overlooking the 50m Olympic-length swimming pool and children’s pool. Pump iron with a view in the picturesque gym. Prefer the outdoors? Work up a sweat in the badminton courts over a friendly game.
Prefer a less taxing activity? Soak in the spa pool and feel the stress of the day melt away. You can enjoy resort-like amenities without stepping a foot outside the building.
Souce: Mah Sing Properties, M Centura
3. Prime Location and Modern Amenities
M Centura is a mere 5km away from the city centre, which makes driving to major towns an easy feat. This luxury freehold is also connected to Duta-Ulu Klang Expressway (DUKE), The Kuala Lumpur Middle Ring Road 2 (MRR2), and Karak Highway.
Residents who prefer public transportation can take the specially-chartered shuttle buses to the nearest LRTs (Sentul Timur) and MRTs (Sentul, Kampung Batu, Batu Ketonmen), which connect to other parts of the district.
Want to get a direct developer price for M Centura?
Talk to our
experienced real estate consultants.
Call +60 16-299 1366 to learn more!


M Oscar Kuala Lumpur: A Luxury Freehold Close to KLCC

Featured Photo Source: Mah Sing Properties, M Oscar
Written by
: Syasya Nur
M Oscar is a freehold project near Kuchai Lama developed by the Mah Sing Group. This property features two blocks of serviced apartments and a total of 910 units. Surrounded by mature neighbourhoods like Sri Petaling, Bukit Jalil, and Salak South as well as renowned establishments like Suria KLCC and Mid Valley Megamall, it’s no wonder that M Oscar is highly sought after.
3 Reasons to Invest in M Oscar in Kuchai Lama
1. Serviced and Dual-Key Apartments
Revel in the picturesque views of the iconic Kuala Lumpur City Centre (KLCC) skyline. The north-south orientation of all units gives residents an unobstructed view 100m above sea level and also shields them from the direct glare of the sun. The best part? This condo features four unit types: two bedrooms, three bedrooms, four bedrooms, and even dual-key layouts. You’re sure to find the unit suitable for your family’s needs.
2. Premium Facilities for the Family
Interested in a swim? The design of the azure pools in M Oscar are inspired by meandering streams and wetlands. This condo also features a well-equipped gym, yoga room, and jogging track to keep residents fit. Bring your kids down for a fun bonding session in the playground or have a friendly ping-pong match. Here at M Oscar, you won’t run out of opportunities to spend time with your family.
Source: Mah Sing Properties, M Oscar
3. Amazing Accessibility and Connectivity
M Oscar is accessible via Jalan 2/149, which is also connected to the Kuchai Lama interchange of Maju Expressway (MEX). Getting here by car is a breeze via these major roadways: KL-Seremban Expressway, New Pantai Expressway (NPE), Shah Alam Expressway (KESAS), and Kajang Dispersal Link Expressway (SILK).
Prefer to commute? The nearby Taman Naga MRT station will start to operate in 2022. Residents intending to travel to other parts of the district can hop aboard the train for a fuss-free commute. M Oscar also offers a premium shuttle bus service to and from the MRT station, which is just 800 metres away.
Want to get a direct developer price for M Oscar?
Talk to our
experienced real estate consultants.
Call +60 16-299 1366 to learn more!


M Oscar @ Kuchai Lama: Live Among The Stars

Award-winning property developers, Mahsing, are excited to introduce their newest freehold residential development, M Oscar. This property will surely be the jewel among the stars, as their tagline suggests. It is located just off the matured yet continuously developing Kuala Lumpur (KL) suburban area known as Kuchai Lama.
Kuchai Lama has a lot to offer its potential residents, and M Oscar is the perfect place to live and experience all of it.
Here’s why you should consider making it your next property investment.
The Units
Built with its surroundings in mind, the developers were eager to showcase the beautiful skyline of KL’s by making sure that there were little to no obstructions when being viewed from any one of the units. The main residential structure is made up of two blocks, each having either a north or south orientation perspective. The property is designed with three features in mind – canyons, stars, and water – thus creating an inviting atmosphere unique to M Oscar.
There are 910 residential units in M Oscar, ranging from 708sq ft to 1,198 sq ft with two to four bedrooms options respectively. There are four different types of units available and each unit will be given two to four parking spaces each, depending on the type of unit the buyer chooses. The starting price for an M Oscar unit is from RM428, 000, making it an affordable option for those looking to live close by KL’s city centre.
Facilities
M Oscar is an elevated project that houses a
2.7-acre facility podium
 where residents can relax by the pool after a long work week, and re-energised for the coming one. There are 12 different facilities and 34 activity areas that are on the podium deck, several of them are social spaces for the whole family to enjoy and reconnect. Residents will have access to the jacuzzi, playground and a multipurpose hall among others.
The deck is also equipped with community spaces to create a bond between the residents, these areas include the community farming and community hangout deck. There are more than five different areas designated for residents to get their fitness on, from the yoga and tai chi deck to the indoor and outdoor gym. Create special memories with loved ones during a walk down the 100m starlight walk, or take great photos at the sunset deck.
Accessibility
The cherry on top of this property sundae is the accessibility that comes with the strategic location of M Oscar. Whether you want to run into the city for a quick bite, or perhaps head down to Shah Alam to visit loved ones, nowhere is too far with the recent developments and improvements made to link several highways that lead in and out of Kuchai Lama. The Kuala Lumpur-Putrajaya Maju Expressway (MEX), Shah Alam Expressway (KESAS), Sungai Besi Expressway, SMART Tunnel, Federal Highway and New Pantai Expressway (NPE) are just some of the highway links that enable residents to quickly and easily travel wherever they need to go.
The MRT2 project that is currently in works with stations in both Kuchai Lama and Taman Naga Emas will be completed a year before M Oscar completion date in 2023. The MRT2 station is an effort to upgrade the current public transport issues faced in the area, and to provide better connectivity options through the Sungai Buloh-Serdang-Putrajaya Line.
Your Dream Home
M Oscar is designed with the needs and wants of their residents in mind. This is why it’s so easy to see yourself living here be it as a bachelor, a loving couple or a growing family.
M Oscar has so much to offer, and when paired with its reasonable price tag in a location filled with new opportunities to explore, you’ll surely be living your best life for years to come.
Excited to become a resident of M Oscar? We don’t blame you! Talk to our real estate consultants and get VIP agent service. Call +60 16-299 1366 now!


M Vertica at Cheras: Magnificent Living in the Metropolis

Written By:
 Henny Maherah
M Vertica by Mah Sing leads the new wave of luxury living in Malaysia. Located at the city fringe in Cheras, M Vertica offers the best of Kuala Lumpur at an affordable price. With an expansive landscape and facilities deck, M Vertica is a perfect home for the urbanite seeking solace.
Experience Modern Living at M Vertica
Meditate Amid the Metropolis
Offering a complete range of facilities at an attractive price, M Vertica does not skimp when it comes to quality living. M Vertica boasts of a 4.54-acre facilities deck, the largest recreational podium in Kuala Lumpur. With 38 facilities, relaxation is made easy at M Vertica.
Facilities include a 400-metre bicycle and jogging track, a 4,000-sqft luxury gym, a basketball court, badminton court, futsal court, and tennis court. A special women’s gym provides a safe space that empowers women to work out together in comfort.
Commute With Carefree Convenience
A quick 6-minute walk along a covered walkway brings you to the LRT and MRT station interchange. Direct access to the Sungai Besi Highway gets you to the city hub that houses Kuala Lumpur City Centre, Petaling Jaya, and Mid Valley, all at your convenience.
Retail and dining options are always aplenty, with Aeon Taman Maluri, Sunway Velocity Mall, IKEA, and MyTown Cheras just a stone’s throw away. For professionals who are always on the go, the Tun Razak Exchange (TRX) business hub is a short 15-minute drive away.
A Promising Property Investment
For those seeking to invest in a property with a promising outlook, M Vertica is the perfect start for you. Starting out at an affordable early bird price of $530 per sqft, the value of this condo is expected to further appreciate as exciting developments are expected in the area .
Future developments in the vicinity include key mixed-use high-rise establishments where business and leisure converge. These upcoming projects are sure to drive up demand, and M Vertica residents will be at the heart of it all.
Grab this exclusive chance to secure a home at M Vertica. It’s a decision you and your future self will be grateful for!
Ready to secure a slice of luxury living at M Vertica? Contact our professional
 in-house agents
 to kickstart your home buying journey.
Call us at +60 16-299 1366 today!


Mortgage Rate Movements During a Market Downturn

One of the concerns most property investors have when purchasing a property is not just which property to buy, but exactly when they should buy it.
Some may wish to purchase as soon as possible to avoid paying rent. Others prefer to take advantage of lucrative deals provided by the property developer.
But for many property investors, they would buy properties if two conditions are met: low housing prices and low interest rates. Today, we will be focusing on the interest rates.
3 Key Questions About Mortgage Rates During the COVID-19 Pandemic
1. When exactly does the interest rate become low?
Different countries have different metrics to gauge national interest rates. The US, for example, uses the Federal Reserve Rate, or Fed rate, as an indicator of where the interest rate movement is headed, a term that you would most probably come across in financial newspapers.
Here in Malaysia, we use the Overnight Policy Rate (OPR) as the indicator of the national interest rates. A decreasing OPR will likely result in lower fixed deposit rates, lower bond yields, and most importantly, lower loan interest rates.
The best way to determine whether the interest rates are relatively low or not is to study the historical movements of the OPR.
As you can see, the Malaysia interest rate has been hovering around 3% to 3.25% for the better part of the decade. But the country witnessed a huge dip in 2009, falling from a high of 3.5% to only 2%, due to the 2008 global financial crisis.
Over a decade ago, governments had to step in to lower the interest rate in an effort to prop up the economy. The act of reducing the interest rates during an economic crisis is part of a popular economic school of thought called the Keynesian Theory.
So now we know that interest rates are low during an economic crisis, how about the situation now due to the COVID-19 crisis?
There have been some rapid developments since the outbreak. The OPR has been
cut to 2.75% in February 2020
, and 2.50% in Mar 2020, an extremely drastic movement similar to the ones made during the global financial crisis.
On 5 May 2020, the
OPR is at 2%
, a decrease from the previous OPR of 2.5% announced on 3 May 2020.
2. Should you buy property during a low-interest rate period?
Notice that while the OPR is at 2.50%, your loan interest rates are almost always higher than that at 3.75% or 3.50%. This is because most mortgage loans in Malaysia are semi-flexi or full-flexi loans, where the interest rates will change according to the interest rate movements. It is generally calculated as follows:
Base Rate (BR) + Interest rate = Loan interest rate.
A base rate is fixed, but the interest rate will float according to the existing interest rate. This is good news for property owners, who end up paying reduced interest rates overall. .
What many investors may not realise that, while the BR is fixed, it is determined at the time your loan is approved. For example, securing a loan in 2009 would probably land you a BR of only 3.0%, but doing so in 2016 would probably land you a BR of 3.5%.
Why is this important? Remember that the BR will remain the same throughout the entire loan tenure. Securing a loan during a market downturn would effectively give you a 0.25%-0.50% reduction in interest rates for the following three decades or so.
That difference can be massive. If you were to opt for an RM500,000 loan for 35 years, a 4.20% interest rate would net you RM455,186 worth of interest payments. A 0.50% reduction would translate to RM62,767 worth of savings, or RM180 less in monthly instalments.
3. What if you already have an existing loan?
Interested in securing a housing loan amidst the COVID-19 crisis? You’re ready to take advantage of the situation, but you realise that you are already in the midst of serving an existing loan.
Fret not! You can still secure a lower interest rate if you were to refinance your loan amidst this downturn.
Loan or property refinancing essentially means taking out a new loan to pay off an existing one. Doing so will allow you to obtain better loan terms, such as a lower interest rate.
Not only that, paying off an existing loan with a new loan, when your house value has appreciated, means that you almost always have a cash balance. You can use this windfall to go on vacation, start an emergency fund, or buy more properties to kickstart the process all over again.
Take note that buying a new loan would essentially reset your loan, meaning you would have to pay a higher monthly instalment if your property value is appreciated. Not only that, but you would also have to service the loan for a longer period of time. This should not be an issue if the property is tenanted, where the rent would cover most of the loan instalments anyways.
Being placed in a low-interest-rate environment is very uncommon, and one can only expect to experience this only a few times within their lifetime. So you should definitely take advantage of the situation to take out a mortgage when it is cheap. You’ll be one step closer in achieving a financially independent lifestyle.
Want to learn more about our trusted
agent services
? Be sure to give our friendly customer care team a call at +60 16-299 1366 for more information. In the meantime, you can download our app from
Play Store
 or
App Store
 now!


Moving Forward: How Hotel Businesses Plan to Adapt to the New Normal

Poor sales performance, delayed development projects, and mounting overhead costs – these are just some of the challenges that the hospitality industry has faced since the start of the COVID-19 pandemic. How are hotels and similar businesses responding to this situation?
Planned Reopenings for Hospitality Businesses
Hotels in Malaysia are scheduled to reopen in the later part of 2020. However, Malaysian hospitality businesses are expected to experience lacklustre performances across the board in Australia, Singapore, Canada, and China.
Large commercial conglomerates in Malaysia typically invest in offices, retail outlets, hotels, and other commercial units. However, groups are expecting abysmal returns on investments for the rest of 2020.
Malaysian groups heavily rely on overseas businesses, and some groups have reported taking a hit of as much as RM148.63 million in the first quarter. These overarching losses are mainly due to foreign exchange currency loss influencing stock markets, as well as closed borders.
Long-Term Planning for a Resilient Hospitality Industry
Even so, operators remain optimistic as the hospitality and tourism industry has historically been one of the world’s most resilient industries. In the first quarter of 2020, property investment divisions and property developments recorded healthy profits despite the current global pandemic. Moving forward, Malaysian groups will be relying on brokering, credit and lending, property investment, and property development, areas which have recorded higher profit contributions.
Looking to invest in Malaysian property? Did you know that you can do that even when you are in Singapore?
Search
 on Ohmyhome. It’s that simple!
Source:
New Straits Times


New vs Old: Should You Choose A Subsale Or New Launch Property For Your First Home?

Choosing your first home can be a choice that significantly impacts your life for years to come. And while the age-old debate of new versus old properties may suggest that one option is a better choice, there are still many key factors to consider. We’ll explore the pros and cons of each type of property and how it affects your home as your own stay and as a long-term investment.
#1: Location
With newer properties, you have more freedom and flexibility in the exact location of your property within the development.
In a high rise, you would be able to pick and choose from hundreds of units at a time with multiple layouts and numerous customization opportunities at the tip of your fingers. These changes are also a lot more cost-efficient to your wallet for new properties.
However, with subsales, or properties that are slightly ‘older,’ you have the distinct advantage of a mature neighbourhood, which means you have instant access to established amenities such as schools, parks, public transportation, and eateries. This gives you a good idea of how convenient life would be after moving in, setting older properties as a safer option for you.
If you’re looking to rent out a subsale property, you’ll also have an easier time finding and convincing tenants to rent a home that’s within an established neighbourhood. If you have a higher budget, you can even get creative with standing out in the market by renovating your property.
When you engage any of
our Super Agents at Ohmyhome
, you will be getting someone who specializes in a particular town or area in Malaysia. And if you decide to move forward with the property, they’ll ensure your entire experience is nothing short of a smooth and professional one.
You’ll be able to engage their network of experienced lawyers, previous clients, fellow agents, loan officers, and even contractors to make the transaction process that much smoother and quicker. Our agents will also have in-depth knowledge of the market and are experienced in dealing with buyers. And they’ll be able to tap into their network of past and existing clients and work with co-brokers to get your home sold.
#2: Market Trends and Fluctuations
Another important factor to consider is the investment potential of your property. When there is a significant movement in the economy, it’s often followed by a parallel effect on housing demand.
When interest rates are lower, it might invite home sales and lead to an influx of homeowners within the neighborhood. Or if a bigger MNC or major commercial project establishes itself nearby, this can also cause a mini ‘boom’ of sorts in the demand locally.
In the discussion of market trends, demographics also play an important role as it is a clear indicator of the kind of neighbourhood it will be in the coming years. Areas with a larger group of young and single working professionals may be a sign of a higher potential for appreciation due to their rising purchasing power and desire for amenities as they start their own families.
While areas with a larger proportion of a retiree population may indicate lower demand, it actually poses a good sign for a more stable and consistent market value in the long term as they are less likely to move away from the neighbourhood.
#3: Final Condition and Quality of the Property
With subsale properties, what you see is what you get. You can easily inspect the property and its amenities, as well as check on any maintenance issues ahead of time before making a commitment to purchasing the entire home.
You also have a clear track record of usage and occupancy, which means that you can gauge the quality of the home and its value based on its history.
While you do have the choice to renovate the home and enhance the design, you are still limited compared to newer properties, as they are typically equipped with modern amenities and designs that appeal to contemporary lifestyles. This can add significant value to the property and attract tenants or buyers in the future.
The problem with new properties is that everything is still in the planning stage, and almost every detail is still a ‘proposal’ until the final build. Even then, it’s not uncommon to discover multiple surprises and mismatches between the expected design and what you actually get after the completion of construction.
With a subsale, you may have to do basic upkeep work like wiring, piping and basic repairs, you can see the quality and workmanship right from the get-go and see the actual condition of the property as it is — no delays, no surprises. This makes it a safer choice for first-time homeowners as there are a lot more variables in your control, which can be a favourable option financially.
#4: Upfront Cash Requirement
New launch properties are often viewed as the more attractive contender in this category. With a common standard of a 10% downpayment, new launches offer a range of options with an upfront cash requirement of less than 10%.  These projects often come with creative financing options that cater to first-time homebuyers, like no-money-down financing, attractive rebates, rent-and-buy schemes, and deferred payment schemes.
However, despite having warranties or guarantees, buyers are still at risk of encountering structural issues or defects that may arise after the completion of construction. Even after a major repair or renovation, there may be underlying structural or design problems that are simply impossible to fix. For example, water leakage, incorrectly fitted windows or doors, or even missing fixtures and furnishings from what was initially promised in the inventory list.
It’s also worth considering that new properties can take years to be completed, leaving buyers exposed to market fluctuations and infrastructure changes that could impact the property’s value. Proposed projects and initiatives are often contingent on multiple variables that may cause further delays, such as the Covid-19 pandemic, which caused a major disruption to the entire property market, causing delays for under-construction developments country-wide.
On the other hand, subsale properties typically require a higher upfront cash payment and may come with additional costs such as transfer fees, legal fees, and stamp duties. But despite the higher upfront cash payment, subsale properties offer a set of attractive advantages to first-time homebuyers.
a) Lower prices
One of the primary benefits of subsale properties is the potential for a lower purchase price. This can translate into lower monthly loan payments, which could make it easier for first-time buyers to manage their finances and build equity over time.
b) Lower risk
Another advantage of subsale properties is that you can see exactly what you’re getting. Unlike new properties that may only have floor plans and artist impressions available, subsale properties have already been built and can be inspected before purchase. This eliminates the risk of buying a property that doesn’t meet your expectations, which is a common concern with new launches.
c) What you see is what you get
Moreover, subsale properties are typically located in established neighborhoods, which means that you can assess the local amenities, transport links, and overall livability of the area before making a purchase decision. This can be especially important for first-time home buyers in planning for their future.
d) Immediate Move-In
With a subsale property, you won’t have to wait years for your actual home to be built as you would with a new launch property. So you can move in immediately after selling your current home.
Find the best homes at the lowest prices with Ohmyhome
With Ohmyhome, we’ll be by your side every step of the way.
From choosing a safe, convenient, and desirable area that meets your exact lifestyle expectations, guiding you through the various steps and expenses related to homeownership like mortgage payments and property taxes, to expertly negotiating and dealing with other sellers and agents – Ohmyhome Super Agents will have your back.
Our agents have served more than 8,000 happy customers with over 70 families housed almost every single month. Secure an appointment with any of our Super Agents today by dropping us a message on
WhatsApp
 or via our Live Chat at the bottom, right-hand corner of the screen.


Online Marketing Gets More Popular for Real Estate Agents to Attract Foreign Buyers

Real estate agents around the world are finding ways to beat income losses due to the COVID-19 pandemic. One of them is to invest more in marketing to reach foreign buyers, which 22% of Malaysian agents agreed on according to a study by Juwai IQI.
Juwai IQI, a privately held real estate sales and media company noticed that more real estate agents and property developers are turning to online marketing to launch their developments.
The study showed that:
31% of Malaysian agents said foreign buyer activity has fallen significantly due to the rapid spread of COVID-19
82% of Malaysian agents believe it is a “good” or “very good” time to buy property
82% of residential real estate agents (worldwide) said the coronavirus pandemic has cut their 2020 earnings expectations.
40% of agents worldwide say foreign buyer activity has fallen significantly.
Investors seem relatively unaffected, with only 10% of agents worldwide reporting that locally-based investor buyers have reduced their activity in the market due to concerns over COVID-19.
Source:
The Malaysian Reserve


OSK Holdings Berhad Redirects Investment Focus Amidst COVID-19 Outbreak

Due to the challenging market environment in light of the COVID-19 outbreak, OSK Holdings Berhad (OSK) has realigned its focus to avoid further losses this year. OSK aims to strengthen its
precautionary and recovery measures
 through land banking and improving its hospitality assets.
Recovery Measures From Slow Growth
Focusing on Land Banking and Fewer Launches
Placing its priority on long-term growth, OSK has decided to redivert its development plans towards land banking for future developments. By the end of 2019, OSK had accumulated developable land with a total estimated value of RM10.5 billion in Malaysia.
Due to the
 unfavourable property market
, OSK will be launching fewer projects this year. Instead, the focus will be channeled towards clearing overhang units before embarking on new launches.
Improving Hospitality Assets
Greater emphasis on OSK’s hospitality assets is a response to increasing competition in the tourism industry. Airbnb, boutique hotels, and homestay properties have emerged as fierce competitors that have adversely affected the business outlook of OSK.
In response, OSK is partnering with Hilton Worldwide to enhance and rebrand Swiss-Garden Damai Laut in Lumut, Perak. Rebranding projects will be managed by DoubleTree by Hilton.
OSK has also diverted RM35 million towards renovation projects that will commence this year. Rest assured, buyers can continue to look forward to new launches by OSK this year despite the slow growth in the Malaysian housing market.
Interested in new property launches in 2020? Contact our
in-house agents
 to find out more!
Call us at +60 16-299 1366 now!
Source:
NST


Polluted Penang River Heals Amid COVID-19 Pandemic

Not only do safe distancing measures, travel restrictions, and stay-home policies help break the chain of COVID-19 transmission, but they have also helped heal the 3.5km Penang River.
Gone is the pitch-black flow polluting the Straits of Malacca, as the river is now jade green with algae.
Due to the movement control order (MCO) imposed to control the spread of the coronavirus, one of the dirtiest rivers in Malaysia is less polluted from human activity. The river’s water quality was categorised at Class Four, just one step below the dead river category of Class Five.
The Penang River is in the Sungai Pinang river basin. This area covers about 50sq km, covering much of George Town and all of Ayer Itam plus Paya Terubong.
The Penang River was almost upgraded to a Class Two over 10 years ago. With the MCO extension, this may now be easier to achieve.
Our team has put together a convenient pack for you and your family. Check out tips for maintaining your family’s health, working remotely, facilitating home-based learning, and so much more.
Download for free!
For now, stay safe by
boosting your body’s natural defences
. If you’re working from home, here are some handy tips to
maintain productivity
 or
remain focused even with kids around
.
Source:
The Straits Times


Prihatin Economic Stimulus Disbursement and the Special Relief Fund for SMEs

As of 14 April, the Malaysian Finance Ministry has disbursed RM8.6 billion, equivalent to 25% of the total amount, was allocated for ministries and relevant enforcement agencies under the package. This amount accounts for about a quarter of the government’s additional expenditure, totalling RM35 billion under the RM260 billion stimulus.
Over six million people have received funds and one-off payments from the stimulus package. Finance Minister Tengku Zafrul said an additional 2.77 million new applications had also been received.
Approval of Special Relief Fund (SRF) for SMEs
Malaysian Finance Minister Tengku Zafrul said that RM1.48 billion in the Special Relief Fund (SRF) for small and medium enterprises (SMEs) under Bank Negara Malaysia had been approved as of 12 April.
As of 14 April, 2,958 SMEs had benefited from this package. The central bank announced that it had allocated RM5 billion, with a financing rate of 3.5% per annum and 5.5 years maximum tenure, to help manage the short-term cash flow issues faced by business owners adversely affected by the COVID-19 outbreak.
Wage Subsidy for SMEs
On 6 April, Prime Minister Tan Sri Muhyiddin Yassin said the wage subsidy programme had been expanded to RM13.8 billion from RM5.9 billion previously.
The government had received applications from 31,000 employers for 299,000 employees, involving an estimated allocation of RM307 million. According to official reports, 98% of the applications were made by SMEs with 75 or less employees.
As you face weeks of isolation and restricted movement, it’s comforting to know that you can maintain your
emotional and mental health
. For even more peace of mind, here are tips for
keeping your home virus-free
.
If you are thinking of buying, selling, or renting property while the Movement Control Order is in effect, don’t worry! You can do property transactions from the comfort and safety of your home? Download the Ohmyhome mobile app from the
Play Store
 or
App Store
.
Call +60 16-299 1366 to find out more.
Source:
New Straits Times


Property Developers Secure Sales With Digitalisation

Written By:
 Henny Maherah
The Movement Control Order (MCO) in Malaysia was recently extended to June 9th. Since the MCO started, property developers have suffered as safe distancing measures prevent homebuyers from visiting viewing galleries or consulting with agents.
Good thing is, property developers can turn to digitalisation during such challenging times.
Property Developers Ride Digitalisation Wave
Property developers have secured bookings worth RM37 million in April purely through digital platforms such as websites and mobile apps during the MCO period. Client consultation between buyers and housing agents were converted to online meetings. Virtual reality (VR) was also introduced to buyers to provide an immersive tour of property launches.
Change in Perspective Among Buyers
Some companies have adopted VR years ago, but this technology failed to take off as it did not resonate with buyers, who prefer face-to-face interaction.
However, since the MCO period, buyers have become increasingly receptive to technological alternatives that will supplement their home purchase transactions.
With these two-way changes between buyers and property developers, the property market could emerge from its slow slump through digitalisation.
Ohmyhome Embraces Digitalisation
Here at Ohmyhome, users are also joining the trend of digitalisation to enhance their home journey. Sellers and landlords can now upload home video tours to supplement their property listing. If you’re unsure on where to start, we have an extensive guide on how to
conduct a video tour
 for all those seeking to sell or rent out their property!
Interested to explore the property market through the comfort of your screen? Download our free
mobile app
 to kickstart your housing journey!
Source:
The Star Malaysia


Property Development Resumes in Taman Island Glades, Penang Amid MCO

Written By:
 Henny Maherah
Recent slowdowns of property development in Malaysia can be attributed to the COVID-19 pandemic. But some developers like Ideal United Bintang International Berhad (IUBIB) are bucking the trend. The firm has resumed development of property under the 1Malaysia People’s Housing government initiative.
Property Development in Taman Island Glades
The project comprises 1,611 units ranging from affordable to high-end. Affordable homes with prices ranging from RM300,000 to RM400,000 will be made available to an approved list of buyers. High-end homes would be open to the property market at prices up to RM700,000.
IUBIB
 reports that the development project is scheduled for completion in 2024.
Challenges for Property Developers Amid COVID-19 Pandemic
Even as property developers aim to continue with projects, newly updated safe distancing measures and shorter working hours for employees will present new challenges within development sites.
According to Tan Sri Ooi, these challenges will not halt the scheduled timeline of projects because acceleration plans have been implemented to ensure maximum efficiency during the shorter working hours. Machinery would also be more heavily deployed to further enhance efficiency.
Apart from IUBIB, other home development projects have also been given the green light, primarily for G1 and G2 construction companies that do not exceed RM500,000. These projects have been approved by the Malaysian Construction Industry Development Authority (CIDB), assuring homeowners in Malaysia that their properties are secured even during these challenging times.
Interested in new launches and upcoming property projects?
Download our free
mobile app
 to browse through listings or our
website
 to find your dream home.
Call us at +60 16-299 1366 today!


Property News: Bursa Malaysia, Mah Sing Group, and Knight Frank Malaysia on Prihatin

Bursa Malaysia’s Positive Market Outlook
Bursa Malaysia ended higher today buoyed by a strong market optimism and outlook for the domestic market following the unveiling of RM250 billion Rakyat Prihatin economic package by Prime Minister Tan Sri Muhyiddin Yassin earlier.
According to an analyst, the stimulus package is a comprehensive approach by the government to tackle the obstacles faced by everyone including corporate sectors, and is expected to boost the economy in the long run.
“Besides putting money into people’s hands, consumer power and jobs will continue to be on the upside, while purchasing power will trend higher,” she said.
Source:
Malay Mail
Mah Sing Group on Prihatin Package
The Prihatin Rakyat Economic Stimulus Package (Prihatin) is a decisive and substantial set of proposals to address the uncertainty faced by vulnerable groups and sectors, describes property developer Mah Sing Group Bhd.
Prihatin, the RM250 billion package would ensure immediate cash injection for:
Bottom 40% household income group (B40)
Middle 40% household income group (M40)
Small and medium enterprises (SMEs)
Its main purpose is to preserve jobs, protect businesses and boost the economy which was affected by the Movement Control Order (MCO) in battling COVID-19.
Source:
Malay Mail
Knight Frank Malaysia Suggests More Initiatives on Top of Prihatin
Knight Frank Malaysia applauds the Prihatin Rakyat Economic Stimulus Package (Prihatin) but feels more initiatives should be directed to sustain the economy and businesses.
Since the Movement Control Order (MCO), there have been disruptions to the property transaction process – buyers and sellers have adopted a wait and see approach. More job layoffs may result in an increase in non-performing loans that would lead to more auctions in the market.
Besides the automatic six-month moratorium on all bank loans, Managing director Sarkunan Subramaniam suggests:
Property taxes waivers such as quit rents and assessment for the second half of 2020
Further stamp duty to be reduced and tax reliefs for landlords who grant rent waivers to their tenants
We have asked Ohmyhome’s Real Estate Negotiator Sherene Chin on her views on Bursa and Prihatin, she said, “This is definitely a good move by the government. A lot of SMEs suffer huge losses from the MCO, and without any support, many entrepreneurs will need to wind up their businesses or retrench employees.”
Source:
The Borneo Post


Property News COVID-19: Automatic Moratorium Loans and Impact on Property Developers

Automatic Moratorium on All Loans, Principal and Interest for Six Months
According to analysts, Bank Negara Malaysia’s directive for banks to offer automatic moratorium to individual and SME borrowers is meant to cushion short-term stresses on the banking system.
The automatic moratorium should be applied to all loans, principal and interest (except credit card balances) for six months until September this year. Lending requirements to the property sector, share financing and unit trusts have been immediately uplifted.
Source:
New Straits Times
COVID-19’s Impact on Property Developers
Property sales galleries remain closed and construction works have halted until the extended Movement Control Order (MCO) ends on 14 April 2020. Although Bank Negara’s six-month loan deferment package is helping to ease the situation, developers still need to bear operational costs such as salaries.
According to RHB Research Institute senior analyst Loong Kok Wen, it is difficult to make equity calls or secure new bank loans now, thus, smaller developers with poor performance risk winding-up. She added, “Although there is currently very little demand in properties, with some demand suppressed now, it might result in pent-up sales upon recovery of the market.”
Source:
Edgeprop Malaysia


Property News COVID-19: More Property Auctions and PRIHATIN Package

Expect More Property Auctions as Economy Weakens
There may be more pressure on Malaysia’s economy affecting the housing property market resulting in more properties expected to be put up for auction in the near future. This is due to the present COVID-19 pandemic and the Movement Control Order (MCO).
Ohmyhome’s Real Estate Negotiator, Vince Lai, shares his thoughts on what could help in times like this. He said, “Stamp duty reduction or waiver will definitely help to boost activities in the market. Buyers will need more incentives to buy now versus later.”
Source:
Edgeprop MY
PRIHATIN Package May Not Be Enough to Help Businesses
According to Fitch Solutions Country Risk and Industry Research, most businesses will not be able to qualify for the wage subsidy scheme in the government’s PRIHATIN stimulus package.
Wage subsidies only apply to the lower-income workforce earning below RM4,000. Businesses have to prove that their revenues have contracted by at least 50% in the year-to-date of the application.
The stimulus package is not as robust as the ones in China and Singapore, which have far more generous schemes, rental waivers, property tax reductions and a freeze on government fees and charges.
Ohmyhome’s Real Estate Negotiator, Eric Cheah said, “The package will help some, no doubt, but a major percentage of employees aren’t able to enjoy the coverage. Perhaps the government could use more funds to prevent an economic meltdown, like providing precise cash support to companies – this helps prevent collapses and safeguard businesses.”
Source:
Edgeprop MY


Property News: Gamuda Land’s OL√Å in Singapore Receives Overwhelming Interest Despite COVID-19 Situation

Gamuda Land’s OL√Å executive condominium (EC) in Sengkang, Singapore has received over 1,100 registrations online since the e-application started on Feb 15. According to its chairman Datuk Chow Chee Wah, OL√Å continues to thrive in the property market despite the current Covid-19 pandemic and economic uncertainties. This is due to the affordability of ECs.
TOP, units and prices offered
He added that the Housing Development Board (HDB) of Singapore is currently going through e-balloting exercise. OL√Å is Gamuda Land’s second project in Singapore and it is slated for completion in 2023. This Spanish-themed development offers 548 units of two- to five-bedroom units ranging from 775 sqft to 1,722 sqft, with prices starting from $1,100 per sqft.
Reasons why OL√Å is an ideal home
Ohmyhome’s Private Property Sales Manager, Louis Tay said, “Being the only EC launching in District 19 this year, it’s no wonder OL√Å is a hot favourite. The range of units offered has met the demands of many HDB flat sellers and new homeowners.”
What makes OL√Å attractive is not just the EC concept but also it’s the location, design and facilities. Residents can look forward to Spanish manufactured fixtures in their homes. Facilities include a bar, clubhouse, lounge, studio, gym, valley walk, biodiversity pond, sensory garden, forest stream deck, and more.
Looking to invest in a Singapore property? Talk to our real estate consultants and get VIP agent service.
Call +65 6886 9009 to learn more now.
Source:
New Straits Times


Property News: Officials Are Taking Action on Illegal Real Estate Agents in Malaysia

In order to protect the property buyers who are at risk of losing their money, and to avoid jeopardising the professionalism and accountability of the real estate industry in Malaysia, foreign real estate agents or developers are required to engage a locally registered real estate agent or firm to market any property.
What are the current real estate issues in Malaysia?
Over 100,000 real estate agents are operating without a licence in Malaysia and the Board of Valuers, Appraisers, Estate Agents and Property Managers (BOVAEP) together with the police are tracking them to protect the local property market. With more than 50 real estate frauds reported monthly, the number of illegal and unregistered real estate brokers are increasing.
Foreign real estate agents or developers are selling properties on their own in Malaysia.
Foreign agents (from countries such as Singapore, Hong Kong and Japan) have been advertising Malaysian properties for sale, both locally and abroad.
Foreign developers are selling properties to Malaysians without getting BOVAEP approval.
What are the consequences for those who transact properties in Malaysia illegally?
Anyone operating illegal and unregistered real estate transactions will face:
A fine not exceeding RM300,000; or
Imprisonment for a term not exceeding 3 years; or
Both, and shall be liable to a further penalty of RM1,000 for each day during the continuance of such offence.
This also applies to any person who aids and abets in the commission an offence under this Act*.
Malaysian Institute of Professional Estate Agents and Consultants (MIPEAC) urges the public to lodge reports on any activities undertaken by illegal real estate brokers to effectively curb the problem.
Act*: Act 242 (Part VIII, Section 30) states that any person who acts as an estate agent whether the primary or principal object of his business is an estate agency or impersonates a registered estate agent
.
Everyone deserves a safe and secure home transaction. You can trust Ohmyhome when buying, selling, or renting your property in Malaysia.
Call +60 16-299 1366 to learn more now.
Source:
New Straits Times


Property News: PENJANA Stimulus Package, Closure of Penang Holiday Site, and Home Ownership Campaign in Malaysia

Written By:
 Henny Maherah
Malaysia has been swept by new changes as the economy begins its recovery since the relaxation of the Movement Control Order (MCO). Key developments include revisions designed specifically to respond to the impact of COVID-19 on the property market.
PENJANA Stimulus Package and the Reintroduction of the Home Ownership Campaign
On 9 June 2020, the Malaysian government issued its fourth economic stimulus package, the
Pelan Jana Semula Ekonomi Negara (PENJANA) package
. Valued at 35 billion ringgit (US$8.1billion), the package aims to help Malaysians who have lost their jobs or experienced pay cuts as a result of the pandemic. The measures included in PENJANA include job protection and tax incentives as well as financial assistance for small and medium-sized businesses (SMEs).
The
Home Ownership Campaign (HOC)
 will also be reintroduced as part of the PENJANA package to encourage more property buyers among Malaysians. Previously, the HOC
successfully ran in 2019
, clearing
31,415 residential units
, valued at RM23.2 billion as of November 2019, surpassing the initial target of RM17 billion.
Malaysians will be able to benefit from the HOC in 2020 in several ways:
Tax exemptions
 when purchasing property
10% discount from participating developers on the price of the property
All properties sold from 1 June 2020 till 31 December 2021 will be exempted from real property gains tax
Since the introduction of these measures, there has been increased interest from homeowners looking to sell their property. “We are seeing more motivated sellers willing to negotiate prices as they know buyers have more choices,” stated Lim Boon Ping, president of the
Malaysian Institute of Real Estate Agents reports.
Malaysian Tourism Sector amid Nationwide Tourism Campaign
Prior to the outbreak of COVID-19, the Ministry of Tourism, Arts and Culture (MOTAC) announced the fifth
 Visit Malaysia 2020 (VM2020)
. According to
 Minister Datuk Seri Nancy Shukri
, the campaign aims to “strengthen the country’s competitiveness and sustainability in tourism while ensuring the industry is inclusive.”
Unfortunately, the pandemic resulted in the immediate cancellation of VM2020 as both domestic and international travel are prohibited worldwide. Within the first quarter of the year, the tourism industry suffered a loss of RM9 billion.
In a recent survey, about
15% of the hotels
 in Malaysia voiced apprehensions that they will not survive the impact of the outbreak and will have to resort to permanent closure. Several hotels ceased operations for good during the MCO, among them the Holiday Inn Resort in Batu Ferringhi. Despite its four-decade history as a tourist favourite in Penang, this landmark hotel was not spared from the economic impact of the pandemic.
Property Developers Change Strategies in New Normal
Property developers are encouraged to follow a two-pronged approach in managing the property market as demand gradually picks up.
Developing more affordable housing priced at RM500,000 and below
Continued efforts to clear overhang units, 80% of which come from the premium real estate sector
More Affordable Housing Units
Ceiling prices of affordable houses will face a reduction in an attempt to ensure housing remains accessible to all. In Penang, a
 10% reduction for affordable homes priced beyond RM72,500
 has been applied in June 2020.
Property developers in Malaysia are also adopting business strategies to fit the new normal. Some of them are focusing on competitively priced essential homes in strategic locations.
Essential homes refer to developments that focus on sustainability. Eco-friendly features would be integrated into these developments. Proposed locations of such developments include Melawati in Selangor, Sentul in Kuala Lumpur and Rubika in Butterworth.
Efforts to Clear Overhang Units
Speaking at a
 press conference
 after the launch of Grand Marais Suite, Housing and Local Government Minister Zuraida Kamaruddin explained that plans to revise property sales price and terms for foreign buyers have been made with the government in order to address the backlog of overhang units.
Responding to these revisions,
 the Penang local government
 has reduced its minimum price threshold for foreign property ownership. This reduction will aid in the clearance of the remaining 3,043 overhang units worth RM2.6 billion total.
As the property market continues to grapple with the effects of COVID-19, targeted incentives and state initiatives will continue to help the Malaysian economy recover fully in the new normal.
Looking to buy or sell your property? Talk to our
in-house agents
 to find out how we can help you achieve your property goals!
Call us at +60 16-299 1366 today!


Property News: Real Estate Agents Fear That COVID-19 Will Affect the Business

Since the
Movement Control Order
 (MCO) which was imposed earlier this week, Malaysia Real Estate Agents fear that COVID-19 will worsen the business alongside existing issues associated with a soft market.
According to Free Malaysia Today (FMT), inquiry calls have dropped sharply since the
COVID-19
 outbreak hit the headlines. Real Estate Agents also mentioned that there haven’t been any requests for property viewings, either for rent or purchase.
Solutions to Soften the Blow
Ohmyhome’s Real Estate Negotiator, Vince Lai, shares his views on how the government can assist the real estate business in desperate times.
He said, the government can do the following to assist the real estate sector:
Provide an exemption for stamp duty on a property purchase in 2020.
A six-month moratorium for existing house mortgages has been granted. Perhaps, they can implement something similar for new property purchases as well, i.e. no loan repayment for the first six months to help with buyer’s cash flow.
How Ohmyhome Manages this Situation
According to Ohmyhome’s Real Estate Negotiator Eric Cheah, it is quite impossible to schedule property viewings, even though there are still requests. There are roadblocks everywhere and people are not allowed to be further than 10km from their houses or else a summon will be issued. He said, “Our Customer Service Team has arranged and informed prospect buyers about viewing appointments after the MCO ends.”
He also added that this may be a good time to purchase properties as prices are decreasing. Those who are looking to invest will most likely buy properties which are already tenanted so they do not need to find their own tenant.
Statistics by the National Property Information Centre show that 31,092 houses were unsold as of last September. The aggregated values of these units have dropped from RM19.54 billion in 2018 to RM18.8 billion in 2019.
Source:
Free Malaysia Today
Looking to buy a property?
Buy your dream home seamlessly
 with Ohmyhome.
Call +6016-299 1366 to learn more now!


Property News: Singapore Government to Assist Employers Affected by Malaysia’s Movement Control Order

Malaysia has implemented a nationwide Movement Control Order from March 18 to March 31, 2020. This order is enforced under the Control and Prevention of Infectious Diseases Act 1988 and the Police Act 1967.
The Singapore government says it will be providing employers with the financial support of S$50 per night for 14 nights for every worker affected by Malaysia’s Movement Control Order.
Singapore’s Manpower Ministry (MOM) will prioritise the needs of firms that provide essential services such as healthcare, security, cleaning, waste management, facilities management, logistics and transport.
The ministry said the government has worked with the private and public sectors to make available a range of short-term housing options including hotels, dormitories, rooms and whole properties in both Housing and Development Board (HDB) flats and the private residential property market.
Need a place to call home in Singapore during the movement control order? Ohmyhome has thousands of housing units available for rent. Our entire team of property agents, customer service and experienced relocation professionals stand ready to assist.
Call +65 6886 9009 or send WhatsApp to +65 9755 1009 to learn more now.
Source:
Malay Mail


Property News: What Are Malaysian the Real Estate Market Trends Amid COVID-19?

Written by
: Syasya Nur
The Malaysian property sector is anticipated to
undergo minimal changes for the rest of the year.
 To curb economic uncertainty, several policies have been put in place to stimulate the market.
Malaysian Property Sector Expected to Show Marginal Improvement
Penjana incentives improve property sales
New property sales are set to improve marginally in June to December 2020, according to MIDF Research. This is due to the incentives in the
Short-Term Economic Recovery Plan (Penjana)
.
In particular, buyers are motivated by the benefits of the
Home Ownership Campaign (HOC)
 under Penjana, including stamp duty exemptions on transfer of property and loan agreements as well as exemption from the real property gains tax.
Delays in Buying Property Post-COVID-19
Investors delay buying decision
Potential buyers are
expected to delay their decision to purchase a property in the short-term
 despite the increase in interest to do so post-COVID-19.
Those who are keen to buy a home at the moment are mainly influenced by factors like the current low interest rates, discounts, and stamp duty exemption courtesy of the Home Ownership Campaign (HOC). These benefits will last until May 31, 2021.
However, the other camp of investors are deterred from acting on their buying decision due to the market uncertainty as a result of COVID-19. A large percentage of investors are opting a wait-and-see approach to see how conditions would fare in the near future.
What buyers look for in a home during the new normal
As a result of the new normal of remote work and distance education, agents have noted that Malaysians are placing more weight on factors that were once less of a concern. Features like good air ventilation, presence of natural lighting, multi-functional spaces, and low project density are now prioritised in buying decisions.
On top of that, the developer’s reputation and high-speed internet connection are also emphasised. Given the increased time spent indoors, home buyers are looking to invest in houses with features that create conducive and pleasant environments for working and living at home.
If you have further questions regarding property transactions during COVID-19, check out our
FAQ page
 for more answers.
Need a professional to assist you with your property transaction? Talk to our reliable
in-house agents now.


Property News: What Has COVID-19 Done to the Local Property Market?

There is no doubt that the COVID-19 outbreak has an
impact on the local property market
.
What are the effects?
Property developers and home buyers, including investors, breathed a sigh of relief in January after Bank Negara Malaysia (BNM) decided to reduce the Overnight Policy Rate (OPR) to 2.75% – the lowest since 2011. It is a rate a borrower bank has to pay to a leading bank for the funds borrowed. The OPR has an effect on employment, economic growth and inflation.
Ohmyhome’s Property Agent, Vince Lai added: With the OPR at its lowest percentage, I believe the government is trying to encourage consumption/spending so that the economy can remain healthy. This is also a good opportunity to get a mortgage, for those who have been wanting to buy a house.
Real estate experts and analysts foresee “rough times” ahead for developers. With Bursa Malaysia’s filings where many developers have posted lower earnings – launches are not as aggressive as before, numbers and values of properties launched have reduced year-on-year since 2017 – it’s most likely many developers will not meet their sales targets this year.
What are developers positive about?
Developers are putting their bet on another round of Home Ownership Campaign (HOC) in 2020. HOC 2019 cleared 31,415 residential units developed by federal and state governments, and private builders, valued at a total of RM23.2 billion as at November 2019, surpassing the initial target of RM17 billion. With sales achieved in December, final sales could reach RM30 billion.
If you are looking for excellent investment prospects, visit
Ohmyhome’s extensive property listings
 to see if anything strikes your fancy, both from the sub-sale market and newly developed projects! Contact our friendly customer service team at +6016-299 1366 today!
Source:
New Straits Times


Renting Out 101: Tips for Managing Tenants

Knowing how to manage your rental property is crucial, but it is only half the equation for any property investor who relies heavily on rental income.
It is a common misbelief that rental income is a form of passive investment. What differentiates a professional property investor from a rookie is the amount of work put into managing their relations with their tenants. By doing so, landlords maximise their rental income and boost the return on investments.
Here, we will share the crucial do’s and don’ts of how to become a responsible landlord and to increase your income significantly.
DO draft a tenancy agreement
Make no mistake. Sometimes it is hard to justify drafting a tenancy agreement, especially when the rent receivable is so little that it is not worth the hassle to go through all the legal fees and stamp duty.
However, for the majority of property investors who are raking in four figures of rent from your investment property, it might be a wise move to draft a tenancy agreement.
Why? Because in Malaysia, there is no central law that governs the relationship between landlords and tenants.
The tenancy agreement, which falls under the Contracts Act 1950, is the only legally binding document that governs the relationship between both parties. It is also the only document that offers rights and protection, which is essential in building trust with your tenants.
Under Malaysian law, a verbal tenancy agreement is still contractually binding and can be brought to court when needed. However, you would have to undergo a much more rigorous and complicated process to prove your case, which is definitely not worth the risk.
Hence, it is advisable to have your tenancy agreement prepared, examined and stamped by a professional. It usually costs less than half a month’s rent to do so.
DO interview your tenants
You would be amazed to find out how many landlords in Malaysia are freely renting out their property without even meeting them face to face beforehand.
Certain landlords have several explicit criteria that they have on hand, such as age, gender, race, work status or studying status. However, it is also important to identify good tenants based on implicit criteria such as cleanliness, financial means, and communication skills.
You can get to know your potential tenants better by meeting them face to face, as opposed to sending emails or online chat messages.. Remember, establishing a landlord and tenant relationship is a long-term commitment, and it is hard to do so over the internet.
This is a crucial step because identifying a responsible tenant will make your life as a property investor so much easier.
There are plenty of great case studies of tenants renting from the same landlord for two decades, and the landlord would only need to bump their rent only once every few years just to keep up with inflation.
Finding a reliable and responsible tenant is a rare occurrence, and it is best to identify them as soon as possible through actual interviews. In case meeting in person is not possible, try to schedule a video call so that you can see their faces and pick up on non-verbal cues.
DO NOT enter the property without the renter’s permission
There are actually plenty of landlords that show up at their rental apartment unannounced, especially to clean and maintain the property.
Do you know that tenants can legally sue their landlords for trespassing into the property that they themselves own, even if the tenant has defaulted on their rent for an extended period of time?
Under Section 7(2) of the Specific Relief Act 1950, it is unlawful for property owners to evict their tenants or recover possession of the house or room without a court order. But more importantly, under section 232(1)(a) of the National Land Code 1965, it is a landlord’s responsibility to allow his or her tenant to enjoy “quiet enjoyment” of the property.
Under the legal definition, “quiet enjoyment” refers to a tenant being able to live in the rented property without interference from the landlord, or his/her agent or servant. Meaning, landlords cannot enter the property without permission, nor do they have the right to demand their tenants open the door to them without reason.
The simple solution? Request permission and obtain explicit consent to enter the property, even if it is something as trivial as hiring a contractor to fix a lightbulb or the washing machine.
This highlights why you should establish a good rapport with your tenants, especially if you plan on renting out the property in the long run. It is also important to screen your tenants properly to avoid tenants that will take advantage of this ruling to make your life as a landlord a nightmare.
DO NOT racially discriminate amongst your tenants
It is wholly within your right as a property owner to pick and choose whoever you want to rent out your property. It is your property, after all. But a quick search on any rental listing portal will show that most landlords have some sort of racial bias against tenants.
Not only is it hard to morally justify doing so, but it has negative implications on your wallet as well. By only selectively choosing your tenants based on race, you are eliminating a huge portion of the tenant pool within the market, where there might be a lot of gems of a tenant.
In a slow market where it is difficult to secure tenants, it is better to open up your options and get tenants early, rather than missing out on a few months worth of rental payments or opt to lower your rent.
A common reasoning used by landlords to justify racially-biased tenant screening, is that some races are somehow much more responsible than others in taking care of the property and paying rent on time. But do note that people of all ages and races are capable of being trustworthy and responsible in their monthly payments, regardless of their ethnicity.
Hence why, it is important to interview your potential tenants face to face to identify those qualities for yourself, rather than shutting the doors to people of a different skin colour or culture.
There are several ways to help support you on your screening journey. You could request your potential tenants to provide a copy of their credit score report to determine if they are diligent in paying off their debts and utility bills. You could also request your tenants for a guarantor or a reference person that could vouch for them.
By screening your tenants based on trust and their fiscal responsibility, you will open your doors to a larger pool of higher quality tenants while also building a reputation as a fair-minded property owner within the community.
Finally,
DO have a proper discussion with your tenants
Many of the issues that arise from being a landlord can honestly be easily solved or avoided by having transparent communication with your tenants.
If your tenants have failed to pay up the rent, you can try and understand their predicament. It could be that they have just lost a family member or their jobs. They might have suffered an illness or an accident. Then, you can try to help them in your capacity as a landlord, such as deferring the payments or providing subsidies for a short period.
The alternative is evicting your tenants and finding new ones, which will take a lot of time, effort, and a huge chunk of opportunity cost as well.
It is also important for your tenants to understand your predicament as a landlord. After all, you might have mortgage payments to pay, or your own job security is also at risk. How your tenants respond to your own predicament also reflects the values your tenants have towards their landlords, which you might want to take into consideration moving forward.
In any case, start by having a conversation with your tenants for a better solution, before falling back onto your rights and protection under the tenancy agreement.
It may be challenging to balance the relationship between a landlord and a tenant. On one hand, maintaining a purely professional relationship will significantly downplay the social aspects of property investment, which may incur more troubles than benefits in the long run.
But if you are too lenient as a landlord, you become vulnerable to being exploited by the tenants. As a property investor, you must also take into account your returns on investments as well.
In the end, each landlord/tenant relationship is entirely unique. But hopefully, these tips will offer a different perspective and provide a unique outlook on property investments that you might have never considered before.
Are you learning how to become a responsible landlord before buying a property?
Well, you came to the right place! Ohmyhome is the best platform for both experienced and new property investors alike! We provide comprehensive
real estate services
, guiding your investment journey from A-Z.
Our list of services include:
Agent services for landlords, tenants, buyers and sellers
Mortgage advisory
…and a whole lot more!
Call +60 16-299 1366 to get in touch with our friendly customer services.


The Ridge: A Cosy Home Perched on the Klang Gates Quartz Formation

Written By:
 Henny Maherah
The Ridge is located in East Kuala Lumpur, nestled in the foothills of the Klang Gates Quartz Ridge – the longest geological formation of its kind in the world. Developed by Sime Darby, the property is surrounded by a natural rainforest, giving you the ultimate treetop experience.
Spacious Layouts With Unblocked Views
The Ridge offers Type A1, Type B2 and Type C2 Units. With three spacious layout options, The Ridge has a home catered towards a variety of budgets and family sizes.
Type A1 is a 651 sqft one-bedroom unit, perfect for young couples seeking to set up their first nest. With a spacious open-concept layout, it is the perfect and cosy abode young couples would love.
Type B2 and Type C2 Units are sized at 865 sqft and 850 sqft respectively. Both types provide two bedrooms, a great fit for young families to house their little ones.
The most prominent feature available in all three options is the extra wide, 9-foot-tall window in every unit. Feel immersed in the tranquility of nature right from the comfort of your sofa.
High-Rise Community Living
Bringing gardens and parks into the ease of your home, the Sky Garden at The Ridge provides residents a chic space for social gatherings. With a 360-degree view of verdant hills, the Sky Garden is the perfect place to relax with family and guests.
Other luxury amenities include a 50m lap pool, a wading and family pool for the kids, a jogging track, and a bbq pavilion and lounge area.
Seamless Connectivity for an Urban Lifestyle
Even when The Ridge is tucked deep into nature, city life is still within easy reach. Melawati Mall, a one-stop destination, is only a 7-minute drive away. Other nearby facilities include the Darul Ehsan Golf Course and Kuala Lumpur Football Academy (KLFA) to satisfy your recreational needs.
Located near International School Kuala Lumpur (ISKL), Universiti Tun Abdul Razak (UTAR), and the Malaysia Institute of Art (MIA), you can be assured that quality education for the children is just a stone’s throw away.
Offering you a peaceful sanctuary topped with well-designed amenities, expansivelayouts, and unrivaled connectivity, The Ridge truly is the perfect home for you.
Ready to make The Ridge in KL East your home? Call our
in-house agents
to kick-start your journey in finding the perfect home.
Contact us at +60 16-299 1366 today!


Should I DIY or Get a Property Agent?

When buying, selling or renting a residential property, the decision to either hire a property agent or DIY (do-it-yourself) is often the first hurdle of many big life decisions you’ll have to make when crossing the threshold of home ownership.
So, how exactly do you go about making this decision?
1. DIY
The real estate scene has evolved from what it once was due to the internet’s advancements, where it has now changed the way homes are bought, sold and leased out. Consumers such as yourself are able to use the internet as a tool to search for available listings that can be filtered to your specifications on various home property websites like
Ohmyhome
. You’re also now able to directly list and market your property on those platforms and communicate personally with potential buyers and tenants beforehand to clarify any questions before a physical viewing. So, deciding to DIY your property journey won’t be too hard, even if it’s your first time.
However, by deciding to DIY you now have several more responsibilities on top of the usual property fix ups that are expected of sellers and landlords, such as getting the plumbing to work right, servicing the air conditioners and giving the property a paint job. Now that you’re also your own realtor, you’ll have to take photos of your property’s exterior and interior and upload them to the property website. You then have to fill in the details of the property, such as the number of bedrooms, bathrooms, and the size of the lot, among other things. Schedule viewings will also fall onto you, as well as conducting said viewings to potential buyers and tenants. This could be an overwhelming endeavour for those with busy lifestyles.
2. Property Agent
Hiring a
professional property agent
 will be an extra expense, but doing so will surely save your sanity and allow you to enjoy the experience instead. Though buying, selling, and leasing out your property can be done by yourself and still have efficient and effective results, an agent is well-versed in property transactions to help the process go smoothly.
All those responsibilities of an agent no longer fall on you, now you are able to concentrate on what needs to get done to get the property sold and focus the rest of your energy on life. Sit back and don’t stress as you wait for your property agent to call you with good news.
Ask Yourself This
You’ve got to ask yourself at this point in the decision-making process if you truly understand the task and responsibilities that you will be taking on if you decide to DIY. Perhaps you’d be better off relinquishing some form of control to your property agent so that you won’t get worked up over having to reply to potential buyers and tenants on time or organise the viewing schedule.
You need to be honest with yourself and ask if you do have enough time in a day to allocate to these responsibilities. Will you be able to handle the responsibilities and tasks to execute them fast and efficiently? Are you going to be able to be hands-on and answer questions from potential buyers and tenants about your property?
If those questions are starting to make you feel as though you were applying for a job, that’s because becoming your own realtor is a job. If you answered no to any of those questions you should seriously consider hiring a property agent. If you answered yes, then consider joining our community of savvy DIY users.
What Are Your Property Needs?
Buying and selling a property will require different amounts of energy and time due to the variance in requirements and tasks. The same can be said for leasing out a property and renting one. This is why one answer to the question of DIY or hire a realtor won’t work for everyone.
You might be able to make time to lease out your property as there are few things to do in comparison to selling it. By understanding your property needs you’ll be able to answer those questions asked earlier on and come to a decision.
Whatever you decide, be it DIY or engaging an agent or both, you can be confident that you’ve thought the whole decision through and that you can always count on Ohmyhome to meet your property needs.
With Ohmyhome’s
trusted agent services
, we are able to help you buy, sell, rent and lease out properties according to your needs and requirements. As part of the Ohmyhome ecosystem, not only would you have the support of an individual agent, but the company as a whole.
Call +60 16-299 1366 now!


Should You Pause Your Property Investment Plan During the COVID-19 Pandemic?

Written by:
 Henny Maherah
The Malaysian economy is expected to shrink to 2.5% from 4.2% during the recovery period. Should property plans still be made during these uncertain and turbulent times?
What is the impact of COVID-19 on the Malaysian property market?
1. Less interest from foreign buyers
Travel restrictions have curbed foreign investments from entering the Malaysian economy. Foreign buyers are thus unwilling to invest in the local housing market. Still, there remains a small group of foreign buyers who are willing to invest in Malaysian property.
These buyers flock from countries, such as the United States, that have experienced greater shocks to the property market as a result of COVID-19. They are keen to invest in countries with better management of the COVID-19 outbreak, such as Malaysia. However, this group of buyers are only the minority.
The unveiling of Perikatan Nasional has also increased the uncertainty in the economic climate of Malaysia. Foreign buyers may be deterred from investing in property due to the recent political turnover and divert their investments to more politically stable countries instead.
2. More challenges in securing homes
Buyers are postponing their property purchase as they are more concerned with more pressing needs like employment and daily necessities. Particularly for the lower income group, securing a home has become more difficult due to lost income and the absence of savings.
Local buyers are now adopting a wait-and-see attitude until the impact of COVID-19 has subsided. While this appears to be the safest approach, others say that now is an optimal opportunity for Malaysians to secure a home.
3. Delayed property launches
Many property developers are delaying their new launches due to service disruptions and supply cuts. With the national slowdown, auction market listings and bargain opportunities have spiked dramatically, with properties selling for as little as 50% less than their original reserve prices.
Property developers are also more willing to lower their prices to entice buyers. Their focus has shifted to clearing off overhang units at reduced prices.
What are the government initiatives to increase home ownership?
1. COVID-19 recovery measures
The six-month moratorium deferment package was also introduced by Bank Negara to provide leeway for loan borrowers during the COVID-19 pandemic. For homeowners, this means that mortgage loans would be deferred from April to September 2020, helping them avoid defaulting on loans.
Owners of short-term rental properties can also utilise the loan deferment till September.
2. Existing housing policies to improve housing affordability
One of the aims of Budget 2020 is to promote access to housing. The
RM10 billion Rent-To-Own (RTO) Financing Scheme
 was introduced in 2018 as part of the National Housing Policy (NHP) 2.0. Running in its second year, the RTO scheme targets the bottom 40% income group (B40). This scheme allows Malaysians within the low-income bracket to rent their homes for five years and apply for a home mortgage in the sixth year.
According to the Housing and Local Government Minister, Zuraida Kamarrudin, when low-income earners consistently pay rent, they are able to build up their credit score. This payment record could further enhance their credibility when they apply for a mortgage in the sixth year. Through this scheme, the B40 targeted group are able to increase their access to homeownership.
3. Closer partnerships between property developers and the government
The Affordable Housing Policy was introduced for property developers to focus housing development towards the lower and middle income group in Malaysia. Property prices are fixed between
RM90,000 to RM300,000 depending on area and location.
 Property developers are bound to a minimum size requirement of no less than 900 sq ft. Necessary infrastructure and amenities must also be included. These guidelines ensure that all Malaysians have access to safe and quality homes.
Given the active improvement in government initiatives coupled with greater housing bargains in the current market, Malaysians should definitely capitalise on the current soft property market to secure their own home. With property prices slashed up to 50% off its original prices, it’s a golden opportunity to land their dream home.
Source:
NST
Interested in buying your dream home? Talk to our in-house agents
in-house agents
 to find out more.
Call us at +60 16-299 1366 today!
While the information is considered to be true and correct at the date of publication, changes in circumstances after the time of publication may impact on the accuracy of the information. The information may change without notice and Ohmyhome is not in any way liable for the accuracy of any information printed and stored or in any way interpreted and used by a user.


Southville City in Bangi: A Sustainable Mixed Development Near KL

Written By:
 Henny Maherah
Southville City is located in Bangi, Selangor, along the North-South Highway. Like many properties in that area, Southville is the perfect home for city-lovers who thrive in the thrill of urban life. However, Southville City is not your typical modern city apartment. Here’s three reasons why Southville City is unlike any other home in Malaysia.
3 Reasons to Invest in Southville City
1. Self-Sustainable Township
Designed as a mixed-use development, Southville City blends residential and commercial spaces in one convenient location. Whatever you need, you can find it here. Lifestyle malls are filled with retail therapy, recreation, and fine dining options as well as boutique office spaces. Southville City is the one-stop home destination for the modern family.
2. Housing for All Residents
Southville City is divided into separate precincts, each with its own distinct architectural design and space. More precincts are in the pipeline for future developments.
Precinct
Unit Type
Size
Savanna Executive Suites
Serviced Apartment
956 sqft to 1,017 sqft
Cerrado Residential Suites
4 Serviced Apartment Towers
656 sqft to 828 sqft
Avens Residence
2¬Ω- & 3-storey link homes
2,988 sqft to 3,438 sqft
Sensory Residence
Serviced Apartment
From 888 sqft
Each precinct is fully equipped with a high-tech home security system, including perimeter fencing, CCTV surveillance, and vehicle access control so that you can go about your day with peace of mind. Luxury amenities such as a clubhouse and an Olympic-sized pool await residents in each precinct.
3. Close-Knit Communal Lifestyle
Communal amenities connect individual precincts and provide residents with access to the wider Southville City community. At the heart of Southville City is a 10-acre summit park that comprises a herb garden, yoga deck, as well as multiple bicycle and walking paths. At Southville City, all your recreational desires will be easily fulfilled.
With seamless accessibility to retail and dining experiences, luxury amenities, and communal spaces, Southville City truly is the home for every family.
Captivated by Southville City’s unique features? Talk to our
in-house agents
 and make Southville City your home!
Call us at +60 16-299 1366 today!


Step-by-Step Guide to Buying Residential Property In Malaysia

Editor’s Note: This post was originally published in April 2020 and has been completely revamped and updated for accuracy and comprehensiveness.
Things are starting to look up for the property market and for home buyers. The new government announced its commitment and focus on economic recovery with initiatives such as expanding the financing guarantee fund SJKP (Skim Jaminan Kredit Perumahan) from RM3 billion to RM5 billion to help first-time home buyers to secure a loan, especially those with no fixed income. So there’s really no better time than now to start planning for the purchase of your next home. Here is a comprehensive step-by-step guide to walk you through every step of the process of buying a home in Malaysia!
Step 1: Identify your investment timeline
First-time home buyers are usually purchasing for their own stay even if they have plans to invest.
There are important factors to consider when deciding why you want to get a home. And it is important to make the distinction between your own stay and for the purpose of investing as the two might not align.
You might get a home that’s really near to a commercial area to attract young professionals to rent a room with you, but you might lose out on privacy with your family.
You would consider the following factors while making a decision to invest in a home:
Location
Rental yield
Potential for price appreciation
Freehold or leasehold
But when it comes to your own stay – you might think a lot about things like privacy, the location of the home to your workplace or your children’s school, the interior design of the home and the neighborhood.
So it’s vitally important to clearly understand what are the aspects you are willing to look past and what are some non-negotiables for your own stay before buying a home.
Step 2: Know your budget
The next most important step here that most people overlook until it’s too late is to evaluate your loan eligibility.
Too often, first-time home buyers make a decision about their home budget until it comes time to make the payment, and they realize that they couldn’t qualify for a loan of that amount.
That’s why it’s vitally important to know your loan eligibility when creating your budget.
A) Check your Central Credit Reference Information System (CCRIS) report
Obtain your CCRIS report from Bank Negara Malaysia to assess your credit score and history.
B) Evaluate your debt-to-income ratio
Calculate by dividing your monthly debt commitments by your monthly income. Ensure your ratio is below 60-70% to increase your chances of loan approval.
C) Determine your loan eligibility based on income and property value
Estimate the maximum loan amount you can obtain by considering the loan-to-value (LTV) ratio, which ranges from 70% to 90% in Malaysia. Take note of Malaysia’s tiered LTV policy for multiple property loans, which may affect your eligibility.
Step 3: Review property listings online
Now it’s time for the fun part, house-hunting!
There are two fast and simple ways you can go about it.
1. The Do-It-Yourself (DIY) approach
The first is by going the do-it-yourself (DIY) approach by visiting a property listing website like Ohmyhome.
Here, you can easily browse through numerous home listings tailored to your preferences. The convenience of online house hunting allows you to virtually view properties through photos and videos while gathering essential information on location, rooms, fixtures, and furnishings. By narrowing down your options online, you can save time and effort by physically viewing only the properties that truly meet your criteria.
2. Engaging a Super Agent from Ohmyhome
Alternatively, you can choose to engage a Super Agent who will be carefully selected based on your specific property needs. With the help of a professional, you can navigate the entire process smoothly, as your agent will assist with all necessary paperwork and keep you well-informed at every stage.
While you are browsing listings online, try to develop a clear picture of your ideal home so that you can effectively communicate your preferences to your agent. Remember that seeking professional guidance for such a significant life decision can be immensely beneficial.
Once you’ve shortlisted a few potential homes, it’s essential to either conduct a walk-through of each property or, if you’re unable to visit in person, request a video tour from an Ohmyhome agent. This way, you can make a confident, clear-minded decision about your future home
Step 4: Prepare the deposit and other expenses
Once you find your dream property, get ready to make an offer. Ensure that you have the deposit prepared so that you can present it to the seller as soon as they accept your offer. Legally, you’re only required to pay a 3% earnest deposit while awaiting your loan approval from the bank.
And there’s also great news for potential first-time home buyers: the government has recently announced a 75% exemption on stamp duty for homes priced between RM500,000 to RM1 million until December 31, 2023. This exemption allows you to save a significant amount of money. Additionally, the memorandum of transfer for houses priced at RM500,000 and below is 100% exempt from stamp duty until the end of 2025, providing even more savings for buyers.
The no-money-down misconception
There’s also a common misconception that No-Money-Down Schemes require no cash throughout the transaction but this is not true.
You should keep in mind during this whole process that there are extra costs. These include:
Hiring a realtor and a lawyer
Paying the stamp duty, which is a tax on legal documents such as the instrument of transfer and loan agreement when you purchase a property
You’ll still need cash to cover the booking fee, which is typically around 3% of the purchase price and serves as collateral. The balance deposit is due upon signing the Sales and Purchase Agreement, although some property owners may be willing to wait for disbursement. Additionally, you’ll need to pay your lawyer for the legal fee and stamp duty. After completing the purchase, you may receive a refund of the deposit paid from your EPF or 100% loan, but the lawyer’s fee and stamp duty will not be reimbursed.
Step 5: Hire a lawyer
Once your offer goes through, it’s time to get a lawyer. You might think it’s unnecessary and that you can handle the paperwork by yourself. While that’s possible, the documentation might be overwhelming. The documents that must be signed and filed include:
Letter of offer/intent to purchase
Sales and Purchase agreement SPA
Memorandum of transfer
By having help from someone who understands the jargon, you will prevent yourself from signing false papers or making costly mistakes. It is often too late when people realize their SPA’s crucial importance until something goes wrong.
This is also why
hiring the right property agent
 is essential. You’ll be able to tap into their vast experience and network of contacts to ensure you’re doing things the right way. They know every trick in the book and can connect you with the right representatives.
Note: It’s not a good idea to share a lawyer with the seller, as they will have the seller’s best interest at heart!
After your offer is accepted, you can save time here by applying for a bank loan while the lawyer goes through the paperwork.
The basic term loan is the choice of many because of its simplicity. The borrower is only asked to pay a fixed installment amount throughout the loan term. For more flexible loan options, the semi-flexi and full-flexi loans are great options. If you prefer an interest-free transaction, consider the Islamic loan.
Step 6: Collect the keys
With everything running smoothly, your deposit paid and the loan approved,  you can look forward to the date specified in the Sales and Purchase Agreement (SPA).
This important milestone brings you one step closer to owning your new home Soon, you’ll be handed the keys to your new home. How exciting!
Looking for your next dream home? Find the perfect one with Ohmyhome
With an Ohmyhome Super Agent on your side, you can rest easy knowing that a seasoned professional is working tirelessly to ensure the best outcome for you.
Taking the stress out of buying a home by guiding you through the entire process, from house hunting to closing the deal. They’ll handle the complex paperwork and legal aspects, ensuring that everything goes smoothly and that you’re well-informed every step of the way.
Ready to connect with one of our Super Agents? Simply drop us a message on
WhatsApp
 or via our Live Chat at the bottom right-hand corner of the screen to secure an appointment today. You can also call us at +60 16-299 1366 for more information. In the meantime, you can download our app from
Play Store
 or
App Store
 now!


Step-by-Step Guide to Renting Out Your Residential Property in Malaysia

Are you looking to earn passive income by renting out your property? Not sure how to go about the whole process? Don’t worry; once you know and follow the steps, you’ll be a savvy landlord in no time.
How to Rent Out Your Property
Step 1: Decide if you will go DIY or get a realtor
It doesn’t matter whether you’re looking to sell, buy, or rent a property, you will usually always have to decide between DIY-ing (do-it-yourself) or getting a realtor. It is an age-old question asked by customers in the property market, and there isn’t a single answer to this question that would work for everyone.
The best way to decide is to understand your situation and your needs, especially if you need help due to time restrictions and lack of knowledge. If you’re thinking of renting out your place the DIY way, you have two clear options.
The first involves you making a banner with your contact information and your property details (e.g., the number of rooms and bathrooms), and then placing it on the exterior of the property.
The second option is to take quality exterior and interior photos of the property and put it up online for potential tenants and post it on property transaction websites, such as Ohmyhome. You can also opt to do both in order to attract more tenants.
A realtor will make things a lot easier for you because they will handle the majority of the process while keeping you informed. This is especially true with our trusted agent service. Photos will be taken for you and marketed online, with consistent refreshing making sure that the property stays on the first page of the site until it’s rented out.
Step 2: Set your rental pricing
Without a realtor to advise you on the price range for your property type in the area, you’ll have to conduct research yourself. This can be done by driving around and calling the phone numbers on the for rent signs and banners. You can also visit online property listing sites, and filter them to see similar details to your property. If you’re still not sure, call a few real estate agencies and inquire about the rental prices for your property type in the area.
Take into account the negative and positive attributes of your property, as this can affect the price. A negative attribute would be having a sewage drain located right behind the property, while a positive attribute would be that it is only a five-minute walk to the LRT station.
The research you conduct, along with the list of negative and positive attributes, will help you to determine your price.
Step 3: Give your property a makeover
You need to make a good first impression on potential renters, so consider fixing up your place. The truth is, we’re often used to the quirks of our home – water stains on the bathroom floor, paint peeling in the living room, the doors that don’t lock all the way – but these are the things that may turn potential tenants away.
Expect to spend up to a few thousand on repairs and improvements. The exact amount would depend on the upkeep of your house and if you want to do any major refurbishments and renovations to the property. The general rule is to give the whole place a new paint job and a deep clean. Also, make sure you fix door knobs and grease the door and gate hinges. Make your home look as clean and new as you can.
Step 4: Identify your ideal tenant
If your property is a four-bedroom house near schools and office buildings it’s safe to assume that your potential tenants will be a family. If it’s a one-bedroom studio apartment, then you might expect either a bachelor or a young couple.
Why is it important to know what kind of tenant will prefer your property? It will help you decide whether you would want to rent the property out as either semi or fully furnished, or with no furnishings.
Step 5: Schedule a viewing
If you’ve hired an agent, then they will show potential tenants around the property. However, if you’ve decided to do it yourself, then you should take a few precautions. Make sure to have someone with you during viewings and to secure valuables if you haven’t moved out yet.
Keep in mind that you have to show them that this property can easily be their home. Set the stage, come early, and make sure to tidy up and if you’re still living there. Try to take down family photos and declutter. After all, you’re trying to get them to envision themselves living there.
Potential tenants will surely ask questions during the viewing regarding any renovations, or the number of tenants you had previously. This is so that they have an idea as to the condition of the house. Make sure to answer them honestly.
During this time, you’ll also want to clarify certain details that would be written into the tenancy agreement, such as who pays if there’s a leak in the roof. You’ll also want to clarify how long the potential tenant wants to stay. Will it be a two- or a three-year-long lease or shorter.
If you cannot offer physical home viewings, you can still offer a
virtual property tours
. Ohmyhome’s platform allows you to show off your home easily.
Step 6: Get the deposit and sign the tenancy agreement
Lastly, secure the tenant with a deposit and a tenancy agreement. You’ll have to collect a deposit (worth about two or three months’ rent) while the agreement is being written out and amended if needed. Then, the only thing left to do is sign the agreement.
There you go, you now have a tenant in six easy steps! We’re sure you’re eager now to start the process and to start earning a side income. Just remember to respect the tenancy agreement and your tenant’s privacy.
Want to learn more about our trusted
agent services
? Be sure to give our friendly customer care team a call at +60 16-299 1366 for more information. In the meantime, you can download our app from
Play Store
 or
App Store
 now!