Do you know if you’re living on a commercial land title, your utility bills will be based on commercial rates?
This happens to some of the service apartments, SOHO, SOVO or SOFO in the city.
For example, the minimum monthly bill for a residential Syabas bill is RM6, while commercial bills start at RM36. That’s right. Even if you are away most of the month, you still have to pay that minimum amount.
Not just that. You also pay commercial rates for electricity, assessment tax and quit rent.
For example, DBKL’s annual assessment rates for serviced apartments are 7%, while condo owners only pay 4%.
Developers may also apply for the title to include “residential apartments” to qualify for a mixed rate, which is in between commercial shops and residential homes. But many still prefer to sell apartments with commercial titles as they can build smaller units with higher plot ratios.
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For more Home Loan information and enquiry, please call/ Whatsapp us at +6012-6946746
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