Treat your rental property like a business

1. So you think you want to be a landlord, do you? Your second home is in the perfect vacation spot and the extra income will add a nice boost to your bottom line.
2. But before you skip off to place a classified ad, be warned:  Renting out your property can become complicated, particularly for those in the wrong mindset, experts warn.
3. Still interested? Here are some tips for renting out property like a pro:

Know the law: One of the first things to address is whether you’re permitted to rent out your property in the first place — no easy feat, says Christine Karpinski, author and rental property expert. “It all depends on your home, your area and your local government. You might have to do some digging,” she says.
A good place to start is look at your homeowners’ association’s CC&Rs (covenants, conditions and restrictions), documents that dictate how the homeowners’ association operates and what rules the owners must obey.

Get insured: Owners should notify their insurance provider that the property is being used as a rental and buy a rental rider that will pay for lost rent in the event of a loss that makes the house inhabitable, such a fire or flood, says Tony Drost, 2011 president of the National Association of Residential Property Management. Check if your hazard insurance pays for damage to tenants’ personal possessions; it most likely doesn’t, in which case you may want to require that tenants get renter’s insurance as well.

Be professional: There are two simple things you can do to make your transaction with potential customers seamless: Respond quickly to rental inquiries — (”We live in an internet world and people expect a response instantaneously,” Bissmeyer says) — and accept credit cards.
“The whole world takes a credit card,” he says. “Not taking one is a mistake.”

FAT VS FIT

     The shape-up rules :

1. Exercise alone is unlikely to achieve weight loss.
2. Dieting won't make you fit.
3. Combining diet and exercise will make you fitter and leaner.

     Type of Fat :

1. Subcutaneous   -  underneath the skin
2. Visceral     -    In the abdomen and surrounding organ
3. Cholestrol   -   In the blood that has been metobolised by the liver.

    "TOFI"

• "Thin on the Outside but Fat Inside"   - TOFI
• Men   -  Waist <94cm is normal and >94 is high risk.
• Women  -  Waist <80cm is normal  and >80cm is high risk

The Impact of Growing Malaysia's Property

1. Recently, we heard about our Prime Minister Dato' Seri Najib has launched the  First House for those has the monthly salary  about RM2,000. It means the governmnet will introduce or inject the funds to selected financials or bankers.
2. Why this has happened to our property. Is government benefit from this system. How about the other parties such as contractors, bankers, buyers, developers, government and others.
3. I'm very interested to know how the property value would impact the government. There is why our government has introduced a few schenme in order to enhance the market value. As I know since I have started my 1st jobs, we are allowed to withdraw the EPF under account 2 to pay the loan either advance monthly paynment or reduce the principal.
4. This is very good method especialy for those who just started working and the salary around RM2,000-RM3,000 per month. Even till now, I still withdraw the EPF for my housing loan after 5 years working.At least, I can recover my monthly expenditure and has a saving for my daughter.
5. Last month, our prime minister has launched  the First House Scheme. But I was not qualified to have it. Definitely my salary was not within the range as required.
6. From here, I can see the government may have a direct impact in term of the government tax. The more developments have grown, all the related parties will be charged a tax. For example, the developers have high profit margin and normally, the houses or property will be sold out.
7. Then, the bankers will issue or approve the loan to the buyers. By the time, the income on interest has increased and the bottom line will be showing a good result. Nowaday, the bankers can earned the profit after tax more than a billion ringgit such as Maybank, CIMB, Public Bank, Bank Rakyat and probably Bank Islam. It was not possible based on their products and benefits to the buyers.
8. Then, the contractors also will be benifited from there. The supplying of raw materials could increase the sales and sell the expertise to the developers. It included the architect, interior designer, civil enginieering, new product and tolls could be introduced to the developers and etc.
9. Therefore, all parties have a benefits from the development of the property.