Many home buyers worry to buy serviced apartment in Malaysia because it is not protected by Housing Development Act (HDA), is it true?
Hence, there are still a lot of people have an impression saying that Serviced Apartment charges much more expensive on water bill, electricity bill, quit rent, assessment, and maintenance fees compare to ordinary apartment or condominium.
In fact, our serviced apartment in Malaysia is now governed by HDA under coverage of standard Schedule H Sales and Purchase Agreement (Schedule H – SPA). That means the clauses in every Schedule H S&P agreements will be the same. Therefore, we should have no worry to sign on the SPA.
A serviced apartment is a type of furnished, self-contained apartment designed for short-term and long-term stays, which provides amenities for daily use.
Serviced apartments can be less expensive than equivalent hotel rooms. Especially when staying for 7 days or more serviced apartments offer savings of up to 30% on traditional hotel accommodation. Source: Wikipedia
Click here to download free sample of previous Old Standard Schedule H and compare to new Schedule H agreement, where the title has been changed to “Building or land intended to be subdivided into parcels” with some changes.
