As the real estate market in Malaysia seems to be slowing down we have to take action as we do not know how active the market will be next year.

It is of utmost importance that we secure tenants as soon as possible in Mesra Terrace. One idea is to offer one months rent free with one years tenancy to the tenant or the agent.

Another idea is to plan an advertising budget and share the cost. We have in total 11 units in our group of which 2 units are bare, one is being managed by the investor directly and one I am living in myself. That leaves 7 units that are either partly or fully furnished that can be offered for rental.

Please give me an idea of what you would be prepared to contribute to a group advertising budget then if we all come to an agreement I can get Sure Holdings to propose a plan to you all.

Our current strategy is to use local agents and there seems to be quite a drop in viewings this past week therefore we should start discussing our options now.

Carpe Diem.
James

It is indeed unfortunate that this world economic collapse has occurred right after Mesra Terrace was finally completed (late.)

Personally I am going to offer some free rent first, and if that doesn't work, I would like to try to pool our money together to take out a large ad or do some other kind of marketing. I think I would contribute up to around RM 3000 for advertising, but I am flexible. Not sure what other types of marketing we can do besides taking ads in newspapers/magazines.... Or if there is any other way to incentivise the real estate agent? (although they are already getting 1 month rental which should be enough unfortunately...)

-Jim

Hi Jim,

Advertising campaigns would depend on the pool of funds of course but 3k * 7 is 21,000 RM which would give some half page adverts in the main newspapers and several smaller advertisements in business magazines where we may atract some corporate rentals.

That sounds quite appealing actually. Anyone else interested??

-Jim

An idea to advertise on these sites from Jerome, a good idea as Jerome will translate and advertise in French for us. As the French School is opposite Mesra Terrace its the best place to start.

As for the ads, the best would be to advertise in the French school and the French consulate, or at the following web sites:

http://www.expat-blog.com/fr/annuaire/asie/malaisie/kuala-lumpur/

http://www.expat-today.com/ville/city/go_to_kuala-lumpur.htm

http://translate.google.be/translate_s?q=expatri%C3%A9s+kuala+lumpur&hl=fr&um=1&ie=UTF-8&sl=fr&tl=en&tq=kuala+lumpur+expatriates&sa=X&oi=clir&ct=search_link

In addition to the advertising I am considering the 1 month free rent per year. If they sign up for 2 years, two months rent free.

I'm definitely interested in advertising, and I think the sooner the better. It would be great if we could all make a decision quickly...

Can you tell us more about the French School? Such as how large is it, what grades, when does the school year start? (Maybe they have a web site? But maybe it's only in French?) Do you think people would be more likely to look for a new rental to coincide with the start of the school year? Or does it not really matter?

Is it only expats that would be most interested in our price range? Are there any other expat groups besides the two web sites you listed?

Are there any other ways to incentivize the real estate agents? (Presumably their one month commission should be enough, but...)

I'm just trying to think of all ideas here....

-Jim

Hi Jim,

Here are some links on the school opposite Mesra Terrace.

http://www.isbi.com/istd-viewschool/3846-Lycee_Francais_de_Kuala_Lumpur.html

http://www.lfkl.edu.my/web/index.php?option=com_content&view=article&id=48&Itemid=74&lang=en-GB

And yes the best time to approach potential French families is when they are planning to start the new intern for the childrens school. we advertised with the school before however and the response has been very poor. We need to find another way of contacting French families coming to Malaysia.

Thanks to everyone and to James for the various suggestions proposed. I think James's new marketing plan sounds wonderful.

I think it's important that we all keep a positive attitude about our property and our investments and not let ourselves get dragged down by the negativity that the news is constantly bombarding us with. There will always be good things and bad things happening somewhere. Let's attract only the good things to us.

Happy New Year everyone. Let's keep a positive attitude!!

-Jim