Property Knowledge

Day 62 - 938 days to go

Today I learned some new knowledge from a property sales staff on property.

1. In Singapore, landlords can inspect their property anytime without having to obtain consent from tenant but the reverse is true for Malaysia.
2. In Malaysia, dont expect TNB to cut electricity if your tenant does not pay electricity bill as long as you deposit is still good enough to pay for the outstanding bill. Therefore, landlord have to write in to TNB to cut the electricity. This is also one of the best way to manage tenants who default on rental payment.
3. It is advisable to register internet access to electricity bill only to check on tenant payment history. It is learned that landlords can also register sms service to receive notification from TNB in the event tenant fills to pay their bill.
4. Build-in cabinet and plaster ceiling are good to add value for the property and also will get tenant or buyer easier.
5. Currently developer has to submit for strata title application before the developer can claim the last 5% of the payment from lawyer.
6. Based on the current rule, 20 feet of set back of land (i.e. to build property 20 feet away from the limit/border of land) for new development of property is required to allow for city planning in future.