Malaysian homeowners and property investors can explore a channel of income by connecting with a company that offers co-living spaces in Malaysia. With the world’s business economy changing, more career-minded professionals are seeing the benefits of being mobile. By having the willingness to travel, they can land more high-paying contracts and temporary assignments that will help them gain experience, afford them a better lifestyle for their families and look good on their CVs.
Companies offering co-working and co-living accommodation in Malaysia have responded to this trend. They provide an alternative for accommodation in hotels and serviced apartments that allow these travelling professionals to save on living expenses while they pursue their career goals.
With the demand for co-living houses and apartments in Malaysia growing, particularly in KL, property and homeowners can benefit from this trend in accommodation.
Professional, Reputable, and Reliable Tenants
Suppose you choose to list your property with a company offering co-living spaces. In that case, you’ll enjoy upwardly-mobile, professional and responsible tenants who can afford a higher level of living arrangements than dorms or guesthouses can provide.
These tenants will be looking for a stable home for between 3-months and up to 12-months. Because of the temporary nature of their contracts and jobs, these professionals do not want to commit to a lease where they’ll forfeit their deposit if they leave early.
The co-living company will vet them to ensure their suitability as tenants. And all payments to the homeowners or property developers will be handled by the co-living company. The company will also mediate any possible disputes between the property owner and their tenants.
Requirements for Property Owners
As the term ‘co-living’ suggests, the most important requirement for having your property listed as a co-living space is that it has multiple, private bedrooms, a bathroom and a kitchen and a roomy common living space. Any additional amenities add to the value of your accommodation.
Being close to any of the monorail or LRT stations in KL will also make your property more attractive to tenants as these people generally are relying on public transportation to get back and forth to their work while they’re in the city.
Benefits to Property Owners
With the co-living companies in Malaysia serving as the primary renters of your properties, you’ll enjoy a trouble-free, ‘hands-off’ working relationship them in your ongoing mutually beneficial arrangement.
For developers who have a number of units available, this can be a perfect solution that earns income on your properties, yet requires little to no effort on your part. For homeowners that plan to be away from home for over 3-months at a minimum, listing your home with a co-living company provides a safe and secure way for your property to earn you money while you’re away.
Why go to all the trouble and potential risk of renting your properties to complete strangers? By listing your property with a trusted co-living company in Malaysia, you can enjoy the comfort of knowing your properties are being well taken of for the length of your agreement.