We use a dynamic pricing tool that analyzes market competitors' rates and adjusts pricing based on various factors, including occupancy, seasonality, weekdays versus weekends, and other market conditions. The pricing guideline refers to the average rate of 4-star hotels in the region, which is currently above RM200 per night. This ensures we maintain a competitive advantage while optimizing rental income.

For instance, with an average daily rate of RM250 and an occupancy rate of 60%:

Gross Monthly Rental: RM4,500

Less Expenses (25%): RM1,125

Net Rental Income (75%): RM2,531

For average daily rate of RM280 and an occupancy rate of 70%:

Gross Monthly Rental: RM5,880

Less Expenses (25%): RM1,470

Net Rental Income (75%): RM3,308

owner will receive a monthly rental statement which includes rental details

The net rental income will be payable to the owner within 30 days of each following month.

The calculation formula is based on nett purchase price divided by total nett purchase price of the properties participating in the pool sharing scheme X total monthly nett rental collected.

Example:

Total units Nett Price in the pool: RM60million (a)

Total Monthly Nett Rental: RM500k (b)

Unit Nett Purchased Price: RM300k (c)

Therefore, individual unit Nett Rental Income = RM2,500 (c/a X b)

Tenants will be responsible for damages inflicted by them. And a security deposit will be collected by us for every tenant before the move-in.

Owners are required to sign up for the renovation and interior design (ID) package to ensure consistency with Cove Serviced Suites standards. The costs start at approximately:

RM25,000 for 1-bedroom type

RM30,000 for 2-bedroom type

RM35,000 for 3-bedroom type

Disclaimer: Renovation costs may vary depending on the market fluctuations. We reserve the right to adjust pricing without prior notice to reflect market conditions.

The design concepts and visuals presented are for illustrative purposes only and may be subject to enhancements or modifications. Final design selections will be determined by the management based on market feedback, material availability, and other practical considerations. All representations should be treated as conceptual references, not exact outcomes.

Cove Melaka Concept 1

Cove Melaka Concept 2

Furniture Lists

Steps to Join the Management Services:

To proceed with the management services, purchasers are required to sign the e-Management Agreement via the email or link provided, and prepare the following documents and information for upload:

1. Sales & Purchase Agreement (Minimum: Cover page, Pages 1–2, Signing Page, and Layout Plan)

2. Copy of Identification (IC)(Or Company SSM if the purchase is made under a company)

3. Developer Rebate Letter (if any)

4. Payment Slip for the 10% Renovation Package

5. Payment Slip for the Administration Fee (RM1,000)

Once we receive your e-signed management agreement along with the required documents and payment slips (please indicate your full name), our Serviced Suites team will verify all submissions and send the signed agreement to you via email.

Please note: Payments made are non-refundable.

Cove Serviced Suites is managed by a team of professionals with over 10 years of experience in star rated hotel management. Each team member is carefully selected and professionally trained to ensure the highest level of hospitality services for Cove Serviced Suites.

While there is no guaranteed rental scheme, Cove Serviced Suites employs strategies to optimize rental income:

1. Efficient Operations: We utilize technology to minimize operating costs.

2. Collaborative Approach: We partner with alliance operators in Malacca to foster a win-win environment rather than competition.

3. Diverse Market Targeting: By tapping into different markets, such as corporate events and long-term stays, we aim to boost occupancy during weekdays and low seasons.