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Having set eyes on an exquisite Mont' Kiara property, your mind is firmly made up and your heart set on acquiring it. The age-old issue has arrived: should you buy or rent in order to secure your luxury address?
Expatriates moving to Malaysia will often find that renting their first luxury living space offers them some very attractive options more suitable for their needs.
Time-Efficient
Expatriates arriving in Malaysia on a work visa often require a place to move into on short notice. Renting will be the most ideal choice in such a situation, as less time is required to find a luxury accommodation, some with complete furnishings included. Property rental also involves a much shorter and hassle-free process; once the tenancy agreement is signed, tenants will be able to collect their keys and settle in immediately.
Flexible
Apartment rental offers a flexible living arrangement for expatriates who are based in Malaysia for a short time period, or who may be relocated to other countries at any moment's notice. Rental of Mont' Kiara apartments may range from monthly to two year agreements, depending on one's differing needs and length of stay in Malaysia. Tenancy agreements can be terminated on shorter notice with minimal hassle and less hefty penalties - monthly rental arrangements merely require a one month advance notification.
Minimal Responsibility
Should any part of the housing starts breaking down, e.g. water leakages or broken pipes, the tenant need not bear the responsibility of repairing the damages. The onus lies on the Landlord to handle the repair work and its hefty costs. The tenant will only have to inform the Owner of any problems with the house, and these will be quickly settled by the Landlord.
Lower Upfront Payment
Due to the short-term nature of rental agreements, the financial commitment required is much lower, compared with buying a property. A typical rental upfront payment consists of a Security Deposit made up of two to three months' rent which is refundable upon end of tenancy, an advance one month rental payment, and a Utility Deposit comprising one month's rent. Other expenses such as the water and electricity bills, internet and cable services will be borne by tenants themselves.
Being the owner of your own exclusive Mont' Kiara digs may well be highly appealing; however, depending on your job situation and current living needs, renting the property may turn out to be of greater benefit and a more worthwhile option in the long run.
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