do we really make money being landlords?

yesterday i went to our suriamas apartment. it's been six month since my last visit, wayyy overdue. the main purpose was to pay for maintenance fee. dah six months tak bayar, so i went there well prepared (dah attack atm dulu siap2). bila check with the management office, perrgghhh banyak jugak benda lain kena bayar rupenya. the detail:

1. maintenance fee per month: rm186.75
2. sinking fund per month: rm18.68
3. insurance per year: rm87.80
4. quit rent per year: rm11.60
5. local council assessment tax per year: rm568.80

so the total 'maintenance fee' averaged per month is rm261.61.

this is of course does not include other costs (minor repair, cleaning for every change of tenants, petrol for visits, etc etc).

luckily the rental we received for our suriamas so far can cover these and the monthly mortgage and still give a respectable +ve cash every month.

so for our next purchase, we must bear in mind of the real cost in maintaining an apartment. whether the big initial investment worth the income it can generate (deposit, lawyer fee, repair, renovation, etc) as well as the time and energy put into it.

then i spent some time checking out the common area. it looks better. probably because there was less renovating works ongoing. plus the trees and grasses grown fuller and taller, nampak makin tenang and teduh, making it a nice place to relax. the areas around the pool are kept clean. there's also a launderette, cafeteria, and also a sundry shop. the gym, tennis, playground and multipurpose hall are in good shape too. the parking area are well lit up now compared to a year ago.

this is all a good sign. hope this can continue and improving all the time.

3 comments:

wakif said...

short term tak untung mana... boleh cover bayar bank ok dah... InsyaAllah medium and long term byk untung...:)

after builers cleaning said...

Interesting article. In my opiniton as landlords make money not much but some :)

JuRi said...

guys, agreed with both of u. a little money gained is still better than nothing, right?