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Rental Question,

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   KS
Wednesday, January 13, 2010 03:38 PM 
Reply: >
I have a kanal plot in E-11. I am thinking of building a plot and renting the house. The house will be built with western standards (Two units with 3 bed/3 bath unit each). I need answers to the following questions especially from brothers who have gone through similar experience:

1. How much can rent can I expect from each unit?
2. No offense to locals, but can I rent the units to foreign staff/NGO's etc? I have heard horror stories about evicting locals :-(
3. How hard it is to maintain a house while living overseas?
4. What are loop holes and things to avoid etc while going through rental process.
5. What are the top three advices you can give to someone who is thinking about what I am thinking?

All suggestions are welcome; though advice/experiences from brothers who have done something similar would be greatly appreciated!
KS replied on Wednesday, January 13, 2010 03:39 PM 

I meant building a house and not a plot (fat fingers)
atiq raja. replied on Wednesday, January 13, 2010 06:09 PM 

you can build a house in separate potions mean ground and first floor.

1, 60 thousand for ground portion,45 thousand for first floor.
2, no problems.
3, very difficult or even impossible.
4,contact some good property dealer but there is no guarantee to get
good tenant.
5,i am also constructing a house in e/11.
KS replied on Wednesday, January 13, 2010 07:04 PM 

Thanks Atiq bhai!

As for getting good tenant, I am hoping that by renting to some non-Pakistani I will have an upper hand. The assumption I am making is that a non-Pakistani is only there for work, a limited time frame and therefore do not intend to 'occupy' the house for longer than the lease. Again my apologies if I am being offensive to anyone. I just don't want to get in a predicament where the home gets occupied by some jerk. I am CERTAIN that most locals are nice people; it's a few that makes this world polluted and unbearable at times :-(
F-7 replied on Thursday, January 14, 2010 05:29 AM 

In F-7 we have had great experience with foreigners as our tenants and have never tried Pakistanis out of similar fears as expressed by KS.

Our house will be vacated this year after a long time. Can Atiq bhai and others in touch with the market please comment on current conditions. Let us say a single unit house in F-7 could be rented at 2.5 laks per month three years ago. What rent level can the owner expect in 2010, from a new tenant (higher than before or lower). Is the availability of foreigners in the market same as before despite security issues.

KS you are thinking on correct lines but you have to have some close family member in Islamabad to take care of the house. I know someone who moved to USA 15 years ago and has three Kanal house in F-8 which is now laying waste due to lack of care.
Abdul replied on Thursday, January 14, 2010 07:02 AM 

At present Living and investing in Pakistan is like playing lottery. There are so many good and bad people. Poor and rich have problems of their own. No one can predict, you can win, loose & /or get killed it is all matter of luck. You should just pray Almighty Allah SWT protect you from bad incidence and protect the motherland.

Don't runaway as your presence is must to protect this great piece of land Pakistan.
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