Friday, February 17, 2012
Coming soon - How to control the hefty electricity bills when you've bought houses to rent rooms for investment?
Due to the mismanagement of fuel resources by this government, our electricity bill has risen rather sharply in this past couple of years (despite that, Independent Power Providers or IPP have been enjoying government subsidies on fuel they bought to supply electricity for profit).
Suddenly, we have seen electricity costs eating into our margins, often as much as 50% of the room rental. What do we do without increasing rent too high that people can't afford to rent from us anymore?
See the solution here.... soon ;)
Earlier I blogged about Kampung Warisan being refurbished. The management council has been sending us quite exciting updates about the work being done. So, I decided to drop by to take a look and discovered some surprises.
There has been some visible changes and there are also those that are not so visible. The council has just begun to change the roof slates starting from the club house.
There has also been some extensive work on landscaping...
Walkways have been repaired...
And the road repaved and repainted... including road kerb. Under the road, underground pipes have been added so that future cabling and plumbing can be carried out without any digging.
The main rubbish dump affecting Melor Block has also been moved so that residents of that block won't be inconvenienced by the dump truck and the smell that accompanies it. I have also seen tender being issued for works to clean the water tanks and upgrading of the CCTV system.
I then ventured off my usual path up the hill where I saw sadly a part of Kampung Warisan that has been left to decay for years.
This is the jogging path where many people has sighted snakes, monkeys and squirrels.
Further up the hill, there are some exercise stations, flying fox...
And a camp site!
This beaten path has been long neglected. I am not sure if the council has the budget to repair it or not and whether it will be viable to do so. Not many of us city dwellers bother to look into this side of nature and risk being too close to wild animals and insects. But I am sure, if it is fixed, I will be one of the frequent users...
How has the refurbishment works affected the prices? Well, 2 years ago before all this started, a 3-bedroom unit in Kenanga Block would be selling at around RM650k. Now, the last transacted unit 4-5 months ago was t RM760k. Rental has also not seen a great leap from the previous asking prices, around RM4500/month for the 3-bedroom units. To be frank, this isn't a lot compared to other similar sized units in neighbouring Seri Maya and One Jelatek. The appreciation is not that steep considering the good work that has gone in and the costs. It remains to be seen... at this moment, there aren't many units for sale in the market. Rentals remain sluggish which is seen all over Kuala Lumpur, not just here. Hopefully, in more years to come this will change as Kampung Warisan becomes the more preferred place to live in compared to other neighbouring condos in this area.
Friday, February 10, 2012
By Lee Wei Lian February 10, 2012
KUALA LUMPUR, Feb 10 — The property market will still see growth this year but at a slower pace than 2011 due to dampened sentiment, said CH Williams Talhar & Wong.