For new readers, I bought a SOHO property at The Bridge, Cambodia and I saved diligently each month in order to pay for the purchase.
After making my final payment for my SOHO apartment, I signed the tenancy lease agreement to officially allow the property developer manage the leasing of my apartment for the next 3 years. In the clause, included a free 3-month rental period for the property developer to renovate and secure a tenant for my apartment.
Last week, I finally received my first quarterly rental payment from the property developer. Woohoo!
Here's the breakdown of the charges involved in this rental property:
- Withholding tax: US$161.03 (10% of my rental income for the quarter)
- Sinking fund: US$180
- Fixed admin fees: US$50
- Remitting bank charges: US$18 (property developer's bank) + US$22.28 (my bank)
- Total charges: US$431.31
After deducting the above charges, my quarterly rental works out to $1187.
That works out to around 4.42% rental yield for this property.
That's pretty average but given that my focus for this investment is on the potential capital appreciation, let's see what happens in the next few years.