suriamas: episode 2

i just finished talking to our suriamas tenants about a new rental contract. it's almost one year since we've rented out the unit and it's time to negotiate a new contract! they have been great as tenants, keeping the apartment squeaky clean, and of course, prompt rental each month.

anyway, they requested to reduce the rent from rm1.9k to around rm1.7k. quite a lot, isn't it? but, considering the hassle of getting new tenants and how good our existing ones have been, we're willing to reduce the rent, but still want to make similar return as what we've enjoyed before. after discussion with the tenants, both sides agreed that we won't be using the agent service for the next contract. this has lead to substantial saving in agent's fee (equivalent of one month rent), therefore we could afford to reduce the rent. we finally come to an agreement of rm1750 per month rent.

for old contract period:
rm1900 x 12 months - rm1900 (agent's fee) = rm20,900.

for new contract period:
rm1750 x 12 months - 0 (no agent's fee) = rm21,000.

win win situation, eh? tenants are happy with reduced rent, we are happy with similar returns and good tenants. the only downside is that now we have to draw up new contract ourselves and get it stamped.

hopefully our suriamas project will go well for another year. who knows, another trip to u.s might be on the horizon...

insyaallah!