Puteri Harbour Community

[menghuii]

someone did a ferry entry into ph quietly in November last year.
I never get tired of any vid or pic of ph.


[video=youtube;pI0pD8SO6_w]https://www.youtube.com/watch?v=pI0pD8SO6_w[/video]

 

[SPH07]

Somerset obtained Vacant Possession on 31 Jan 2015.
Just received the registered post from developer..

Was also given an invoice to pay miscellaneous charges (assessment fees, quit rent, service charges, etc)
Thought Somerset was supposed to take care of all these? Have written to UMLand to ask...

 

[Dfiris]

Somerset obtained Vacant Possession on 31 Jan 2015.
Just received the registered post from developer..

Was also given an invoice to pay miscellaneous charges (assessment fees, quit rent, service charges, etc)
Thought Somerset was supposed to take care of all these? Have written to UMLand to ask...

According to yr contract, lease commencement only starts 2 months from VP Date, which is end of March. And Somerset will only pay u the rental of April & May on 1st June. The advance fees are to cover for this period. Normally an operator only pay the water charges. The rest of the fees are to be borne by owners.

 

[SPH07]

According to yr contract, lease commencement only starts 2 months from VP Date, which is end of March. And Somerset will only pay u the rental of April & May on 1st June. The advance fees are to cover for this period. Normally an operator only pay the water charges. The rest of the fees are to be borne by owners.

Thanks Dfiris. UMLand replied me as well. My oversight.

I went to see the apartments last week. Very nicely furnished.
They've opened up one floor for guests, gym is ready, rooftop pool and cafe will be ready shortly. Everything should be fully operational in the coming weeks..

 

[Dfiris]

Thanks Dfiris. UMLand replied me as well. My oversight.

I went to see the apartments last week. Very nicely furnished.
They've opened up one floor for guests, gym is ready, rooftop pool and cafe will be ready shortly. Everything should be fully operational in the coming weeks..

U r most welcomed. Other than the 10 year rental cashflows, its nice & reassuring to know that the property will be well taken care of as everyone (leaseback units) have their maintenance service fees & sinking funds automatically deducted from the rental. It is one of the most important attributes to maintaining the resale value of the property, as building costs form a 70-80% component of a project's value. It will definitely help to tide us over these 10 yrs to ride on further gains.

 

[mathi]

HI,I new here . I bought a unit in SPH too. I thought the developer should pay us for late delivery? And on top of that ascott never contacted us at all.

 

[Dfiris]

HI,I new here . I bought a unit in SPH too. I thought the developer should pay us for late delivery? And on top of that ascott never contacted us at all.

As for the late delivery, I am hoping they will breach the End of Feb Deadline, but they did not, they manage to VP by 31st of March, so Developer don't have to pay any penalty. But they have to pay more interest as a result of DIBS.

Ascott will not contact you. Cos there is a 3rd party company specially set up called Clear Dynamic Sdn Bhd to do the bridging. Ascott will never deal with individual owners.

 

[Dfiris]

HI,I new here . I bought a unit in SPH too. I thought the developer should pay us for late delivery? And on top of that ascott never contacted us at all.

You can call Mr Tan or Mr Gan of Clear Dynamic Sdn Bhd at 03-2036 8188

You should received a comprehensive package which is self explanatory by now

 

[mathi]

I thought the deadline is in 2014. And Nusajaya consolidated sdn bhd asking me to pay Miscellaneous charges RM 6579. And Clear Dynamic never even invited me to take a look at my unit. Comprehensive package what is in it. Thanks Dfiris!

 

[foochoon]

10 year period is to engage Ascott for running the property. There is no rental guarantee except for those who bought earlier which is for 2 year period.

 

[SPH07]

I thought the deadline is in 2014. And Nusajaya consolidated sdn bhd asking me to pay Miscellaneous charges RM 6579. And Clear Dynamic never even invited me to take a look at my unit. Comprehensive package what is in it. Thanks Dfiris!

Welcome Mathi

You have to check your S&P Agreement. My SPA states Vacant Possession within 36 months of agreement. So the developer has met the deadline.

As for Misc charges, please look at the post by Dfiris.
You can also refer to the leaseback agreement that you've signed.

No invitation and no free stay from Clear Dynamic. Too bad but that's part of the deal.

 

[EmpeeG]

Welcome Mathi

You have to check your S&P Agreement. My SPA states Vacant Possession within 36 months of agreement. So the developer has met the deadline.

As for Misc charges, please look at the post by Dfiris.
You can also refer to the leaseback agreement that you've signed.

No invitation and no free stay from Clear Dynamic. Too bad but that's part of the deal.

The letter received from developer also includes an invoice for advance 4 Months Service Charges + 1 month deposit. In my view, they should collect such money from purchaser only for two months and not five. Service charges become due for payment from the VP date (31st Jan) however it should be paid by purchaser only till the lease commencement date (which is two months from VP). Why are they asking for 5 months?

 

[mathi]

Is first 2 years rental yield of 5% base on purchase price?Thank you guys for clearing my doubts.

 

[PuteriWorld]

Hi all, I understand that there are Puteri Cove retail shoplots or F&B facing the private marina going to be for sale soon. Anyone here got any idea if the opposite Southern Marina Residence has the same concept? I went to Punggol Settlement to dine at one of the Seafood Restaurant recently which faces the Pasir Gudang in JB and was amazed by the crowd. Then I went over to SAF club to dine the following week and the breeze was cool and had a calming effect on our minds.

In my opinion most waterfront eatery are rather popular with families. Really cant wait to see the similar concept in PH

 

[Dfiris]

Welcome Mathi

You have to check your S&P Agreement. My SPA states Vacant Possession within 36 months of agreement. So the developer has met the deadline.

As for Misc charges, please look at the post by Dfiris.
You can also refer to the leaseback agreement that you've signed.

No invitation and no free stay from Clear Dynamic. Too bad but that's part of the deal.

Thats correct. I would like to re-emphasize that when the say date of S&P, its means the date when this S&P agreement becomes unconditional (the date when State Authority issues a Letter of Consent), especially for non-Malaysian investors.

 

[probeaz]

The letter received from developer also includes an invoice for advance 4 Months Service Charges + 1 month deposit. In my view, they should collect such money from purchaser only for two months and not five. Service charges become due for payment from the VP date (31st Jan) however it should be paid by purchaser only till the lease commencement date (which is two months from VP). Why are they asking for 5 months?

Hi,

I asked UMLand the same qs too. This was their reply:

Good Morning!

Yes, we (Nusajaya Consolidated Sdn Bhd –Developer) are charging to purchaser with 4 months advance on the service charge & sinking fund as per Clause 18 in Sales & Purchase Agreement.

Therefore, the 4 months advance of service charge & sinking fund, will be a payment for Feb, March, April & May 2015.

Pursuant to the clause in the Leaseback Agreement, Clear Dynamic Sdn Bhd shall be entitled to utilize all revenue received to pay all service charges & maintenance fees for the subsequent billing which in this case starting from June 2015.

Therefore, Clear Dynamic will only be deducting for service charge & sinking fund from your Rental effective from June 2015 onwards.

 

[Dfiris]

Is first 2 years rental yield of 5% base on purchase price?Thank you guys for clearing my doubts.

Yes, it is based on your purchase price. It is based on pooling system and the 5% is the floor yield, if there is more, it will be distributed.

 

[Dfiris]

The letter received from developer also includes an invoice for advance 4 Months Service Charges + 1 month deposit. In my view, they should collect such money from purchaser only for two months and not five. Service charges become due for payment from the VP date (31st Jan) however it should be paid by purchaser only till the lease commencement date (which is two months from VP). Why are they asking for 5 months?

I think it is to cover till the first rental payout, which is every 2 mths. So first 2 mths if rent free period for Ascott,
so its 31st Jan + 2 mths + 2mths, rental expected 1st Jun.

Btw, another thing fellow puteri harbour investors might want to take note. Assessment Fees is only abt RM53 for half year for my 1500sqf unit. So low compared to KL. Not to mention Singapore, k be up to 20% for property tax

 

[louischin78]

Yes same concept with alfresco dining concept along the promenade. The only difference is they are not selling it as they plan to manage it themself and try to bring in some nice establishment. I think this will be better as they will have better network.

Hi all, I understand that there are Puteri Cove retail shoplots or F&B facing the private marina going to be for sale soon. Anyone here got any idea if the opposite Southern Marina Residence has the same concept? I went to Punggol Settlement to dine at one of the Seafood Restaurant recently which faces the Pasir Gudang in JB and was amazed by the crowd. Then I went over to SAF club to dine the following week and the breeze was cool and had a calming effect on our minds.

In my opinion most waterfront eatery are rather popular with families. Really cant wait to see the similar concept in PH

 

[mathi]

Yes, it is based on your purchase price. It is based on pooling system and the 5% is the floor yield, if there is more, it will be distributed.

If I bought my unit for RM 1.3m ( 1500sqf) what would the yield I will likely get?