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Commercial Land Malaysia
Introduction: Commercial Land Malaysia is a wide area that covers quite a number of commercial properties types. These would include retail stores, shopping centers and shop houses. Other types of commercial properties would entail commercial buildings, shop offices and other professional buildings. Investing in such properties may turn out to be a very affordable and exciting expedition for an investor- whether it is in the range of office or retail in car parks or factories/warehouses. If you’re interested, you can get into this page of Commercial Land For Sale in Penang, Malaysia.
Key characteristics of Commercial Land Malaysia:
If you intend to lease out commercial properties in Malaysia, one of the key characteristics to note is that such leases are normally not very short- they may run for a number of years, instead of the common several months for other types of leases. In the end, although getting tenants is not always as fast, owners of such properties enjoy longer periods of secured income, which is more or less likely to be reviewed upwards at the end of each business year.
- Strategic Location: the ease of accessibility for any commercial properties has a direct bearing on the success or collapse of any business entity. An investor must take this into account, and see to it that such locations have the benefit of good infrastructure and enough manpower to meet the various needs of investments.
- Commercial Land Malaysia is also characterized by higher prices, thanks to the Goods and Services Tax on all commercial properties. Although this is recoverable under ‘input tax credit’ later on, this simply implies that in your initial financial planning, you will need to capture this and allow for higher spending. People coming in and out must find it convenient to access various services in commercial properties, irrespective of their means of transport.
- Designs and Adaptability: the temptation to erect commercial properties for a particular purpose is always there among different developers. Even so, it is very important that in designing such properties, they are left adaptable to different lines of thoughts with regard to business ideas and preferences. This way, the properties will remain attractive to a broader category of leaseholders in Commercial Land Malaysia.
- One should beware of other hidden charges, which more often than not are passed on to the lessee and these are the maintenance and repair costs, leaving the landlord with maximum profits. The lease agreements should however spell out categorically, the responsibilities of both the landlord and the lessee, to rule out the possibility of disagreements.
The legal Aspects: Save for some provisions of the National Land Code (1965) and the Contract Act of 1950, Malaysia does not have particular laws governing Landlords and tenants. However, 1997 saw the passing of the Control of Rent Act, to cater for continued abuse by tenants in paying their monthly or annual dues. Find out more on documents needed to facilitate land transfer and feel free to visit our listing browser.