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Why you will not be able to sell your home at a good price...

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Why you will not be able to sell your home at a good price...

Post  JoelCere on Sun Feb 21, 2010 2:25 pm

We have decided to put our City Square property on the market. Two agents with potential buyers came over to see it this weekend. Both buyers like your flat very much HOWEVER they both visited other units and decided not to buy in City Square at all after seeing units being partitioned and rented out as workers dormitory and backpacker hostel... the latter has been confirmed to me as one of the agents is my cousin. She will be providing me with the unit details and I will be filing official complaints to the management and to URA on Monday.

If you bought a City Square unit to let, you may not know that your unit has been turned into a dormitory. If you do know, you may be making a hundred dollars more in rental per month compared to normal rentals, but you will loose out big time when you want to sell because of the condition of your unit and because you are dragging down the value of the whole condominium.

If you are concerned about the value of your investment, I will provide you with the unit details and I would urge you to complain to the management and to URA.

JoelCere

Posts : 22
Join date : 2009-08-29

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Re: Why you will not be able to sell your home at a good price...

Post  Mcqueen on Mon Feb 22, 2010 12:39 am

Would like to know the outcome of the complaint.

I'm really concern about it.

Thank you.
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Mcqueen

Posts : 45
Join date : 2009-12-20
Location : Blk 8

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Workers dormitories

Post  JoelCere on Mon Feb 22, 2010 3:38 pm

Block 14, 2nd floor... 2 units converted.
I will let you know the outcome of the complaints. However one person complaining is not enough. I will invite you to complain as well if you want swift resolution. Management office and URA.

JoelCere

Posts : 22
Join date : 2009-08-29

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Re: Why you will not be able to sell your home at a good price...

Post  Mcqueen on Tue Feb 23, 2010 11:07 am

Hi JoelCere,

I think pin pointing the unit require alot of "police work" investigating skills.

I believe MA and URA has come across million of such cases especially when the rental market demand are low.

What i trying to said, i do not wish to see CSR value goes down.
But is the thing about making investment and when investment goes bad. The reprecussion of it which resulted in this type rental problem.

No owner out there wants to rent to labourer or turn their unit to a worker quarter.
This will run up with alot of problems for the owner in the end.

So i'm still wondering how other estate manage such issue. Well just my view point.
albino
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Mcqueen

Posts : 45
Join date : 2009-12-20
Location : Blk 8

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Re: Why you will not be able to sell your home at a good price...

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