Malaysians love properties. It is seen as one of the safest investments by Malaysian investors, as the value of properties is always on the rise. Although there is an anticipated bubble of property in 2019, it seems nothing is stopping Malaysians to get a place of their own.
While we see new developments every day for residential properties, it does not seem like a good time for the property market, with a staggering value of RM35.5 billion of vacant properties in Malaysia alone.
Okay, some good news that will lighten you up. We find that there are several ways that you can actually pay your instalments and rentals with a little effort put in. Here we picked 4 of the best earning potential:
No doubt that Airbnb has increased popularity among Malaysians. It is one of the best ways anyone can actually make some money online while knowing people from other countries. You can make additional income with your extra bedroom, a whole house & apartment spaces for a night's stay.
Pros: Great brand & market access
Cons: Lack privacy or need high capex to start
Income potential: RM2000+ per month
2. Luggage Here
A new kid in town for the hottest tourist spot in Malaysia. The aim is to help travellers store their luggage in a spot for a minimal rate per hour at local retail stores. The startup now serves 2 major cities in Malaysia which includes Kuala Lumpur and Penang
Income potential: RM1000+ per month
Another new kid in town that makes it easier for businesses to find places for meetings, events and production. A major difference between Airbnb and Chupspace is that it gives higher flexibility than Airbnb (you can do it without beds :D). Spaces that can be rented out could be of any kind, which includes living room, the rooftop of a commercial building, abandoned warehouses, parking lots, museums and more. While you may think that your property may not have the spaces mentioned, there’s a studio listed their common area for businesses to have meetings and classes.
Income potential: RM4000+
4. Some good old monthly renting
The most common way for a property to yield is finding tenants to rent your property, and you get a monthly rental to (hopefully) cover a portion of instalments. While this seem like a no-brainer, actually it is not. There are scenarios where tenants might not pay your rent and utilities. Here’s some advice from experts on what if your tenant does not pay you.
Income potential: RM2000+