Who will manage my property after the current lease contract expires in 2008?
As we explained in the letter included in Jan 08 ongoing management report, SVAM will continue manage your Paris Garden property and we have reached agreement with PG management company that they will continue rent your unit until 2010, when most of our investors will hold the property for 5 years. According to current regulation, properties owned for over 5 years will not be charged sales tax during sale, and will enjoy much lower rate on the capital gain tax as well. Once your guaranteed lease expires, your unit will continue be managed by PG management company and rent it base on the market price. You will receive a summary of the lease detail whenever there is a new lease signed. In order to reach 0 vacancy period for any property, we are considering pool all the rent and distribute the rent into each investor’s account base on the size of the room.
