Landlord ! be rich and happly

swhengtee commented that property owners who are rich supposed to be happy. However, there are many who do not enjoy such a priviledge.

Gavin Tee, addressing Landlording's problems and opportunities during his talk in KLCC Convention in conjunction with Luxury Properties Exhibition last Friday ( April 23rd, 2010).

Here are some notes for your references :

To Handover the Property upon:

.The landlord to hand over keys to symbolize the handing over of power to others. Hence, proper procedures should be adopted
.The landlord to ensure there is a valid Tenancy Agreement
.The tenant to pay all deposits and costs (if any)
.Joint inspections of property & joint meter readings
.Request confirmation from tenant on property conditions & inventory list
.ntroducing the tenant to the Management & neighbors

Dealing with dafault or delay rental

-Security Deposit and Utilities deposit are not permitted for deduction against rental payment and other costs
-To make it clear to the tenants on their duties and covenants
-The landlord should act fast on late rental payments by reminding them via calls or letters
-If the tenant still fails to pay the rental, the landlord can determine the tenancy by terminating the agreement and requesting for the tenant to move out.

removing tenants who dont pay

•Explaining to the tenant on the covenants that are breached
•Serving advanced notice in requesting for the tenant to move out
•In serving a final notice, the tenant is requested to move out within a time frame
•To avoid further damage to the property by the tenant, a date must be fixed to inspect the property before refunding the deposit
•To avoid violent and abusive tactics by the tenant, the landlord should seek advice or assistance from the lawyer or police
•It is illegal to confiscate the tenant’s assets by force as rental compensation

and there are more...... come to our swhengtee's seminar