Tuesday, June 19, 2018

Citrine Residences 2-bedrooms Rental @ Sunway Iskandar (Revision 03)

 
Revision 03 : Updated on December 6, 2020
Revision 02 : Updated on July 26, 2019
 
2 bedrooms (1,087 sq ft) at 35th floor. Second top floor unit.
 
Rental : RM 2,800
 
Rental Yield: 4.60%
 


November 3, 2017: Sunway called for key collection. We need to clear some payments first before collecting the keys.
Total payable : RM 5,508.55.
RM 2,450 are actually deposit.
Monthly fees will be RM 416.53.


November 22, 2017 : collected the keys. Engaged more than 10x agents to hunt for tenants.

December 5, 2017: renovation started, all lights, water heater, ceiling fans installed.

December 9, 2017: curtains installed, wallpaper installed.

December 13, 2017: main door grille installed

December 21, 2017: furniture delivered , electrical appliances delivered.

December 22, 2017: built in wall mirror installed and unit is ready for rental .

Electrical appliances and furniture spent : RM 7,802.
Renovation with lights, ceiling fans and water heater : RM 10,745.
Total spent : RM 18,547.


January 24, 2018: Referred to agent Angel.

February 2, 2018: Agent arranged viewing for potential tenant.

February 4, 2018: Tenant increased the offer from RM 2,500 to RM 2,800 and I accepted. It took 12 days for Angel to secure this tenancy.

February 5, 2018: One month rental deposit received. Offer to Lease letter signed.

February 7, 2018: sofa and queen size mattress with bed frame removed from Citrine unit to Nusaheight unit (as the tenants have their own sofa and mattress, that save me RM 2,898). I paid RM 250 for the mover fees.

February 9, 2018: 2 months deposit and utilities deposit received.


My beautiful unit.
 
Living hall.
 
It is quite spacious.
 
Hallway to bedrooms
 
Dining area.
 
The dining set.
 
View from living room.
 
View towards kitchen.
 
Gorgeous view at master bedroom.
 
Another bedroom.
 
 
The tenants have the privilege to enjoy the fantastic view at 35th floor. :)
 
http://jkfund.blogspot.sg/2014/10/why-i-bought-first-residential-project.html

Some interesting facts:

(1) Sunway gave RM 5,000 to re-sign the document (due to the Johor state housing rules change).

(2) I received 3x referral fees, RM 15,000 from Sunway. I split 50% to the purchaser, hence, I received RM7,500 nett as referral fees. The 4th referral fee is on the way.

Total red-packet received: RM 12,500.


Yearly fees incurred:

(1) 2019 Fire insurance ( yearly ) : RM 195.48
     Insurance covers from 13 April 2019 to 12 April 2020
     2018 Fire insurance (top up): RM 44.82
     Insurance covers from 2 Nov 2018 to 12 April 2019
     2017 Fire insurance ( yearly ) : RM 292.69
     Insurance covers from 2 Nov 2017 to 1 Nov 2018
 Payable to Sunway Citrine Management.
      
(2) QUIT RENT 2018 (yearly) : RM134.57
     Quit rent covers from 01 Jan 2018 to 31 Dec 2018.
Payable to Sunway Citrine Management.
      
(3) Service Charge (monthly): RM 330.48 (RM 0.304 PSF), one year : RM 3,965.76
Payable to Sunway Citrine Management once every 4 months : RM 1,321.92
It covers from 01 Jan 2019 to 30 April 2019.
(FREE one year service charge, from Jan to Dec 2018)

(4) Sinking Fund (monthly): RM 33.05 (10% of service charge) , one year: RM 396.60.
Payable to Sunway Citrine Management once every 4 months : RM 132.19.
Due date : 14th of the month
Payable to Sunway Citrine Management.

(5) Shared Service Charge ( monthly) : RM 53 , one year : RM 636.

(6) Assessment Tax (bi-yearly) : RM 580
     (Yearly : RM 1,160)
     Due by 28 Feb & 30 Aug every year.
     Payable to Majlis Bandaraya Iskandar Puteri.

 
Revision 02 updated on July 26, 2019
===========================
The first tenant extended the contract for one month and handed the keys back to me on mid-April 2019. Thirteen months of rental received. 13 x RM 2,800 = RM36,400
 
There are many viewings conducted (close to 10) thereafter but only one offer is successful on 3rd July, 2019. Move in date is on 1st August, 2019.
 
12 months new rental would be: 12 x RM 2,500 = RM 30,000.  Rental yield drops to 4.1% .
 
 Revision 03 updated on December 6, 2020
===============================
The new tenant will move in on January 1st, 2021. She works at Sunway International School as a teacher. Rental yield drops to 3.42%. The market is bad indeed. :(


 


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