House for rent Malaysia
Malaysia is home to many rental opportunities.
If you are looking for an Apartment, Condominium, Bungalow or Townhouse, High-rise in the City Centre of Kuala Lumpur or a detached house in a quiet village, Malaysia has
it all and homes can be found for everyone’s needs.
The Rental Procedure.
standard procedures when renting a home.
After you find your perfect home and you
agree on the terms and conditions, an Earnest Deposit needs to be made. This is
the booking fee and usually amounts to the first month’s rent. After the
Earnest Deposit has been made, the Landlord is not allowed to rent or show the
property to someone else until and unless the intending Tenant wishes not to
have the said premises.
The Tenancy Agreement needs to be signed within 14 days
from the moment the Earnest Deposit has been made. When signing the Tenancy
Agreement the tenant will
also have to pay a Security deposit and
a Utility Deposit.
The Security Deposit is usually 2
month’s rent and the Utility Deposit is usually half month’s rent or any amount
that is to be agreed upon by the Landlord and the Tenant.
Malaysia is also home to many Expats. For
Expats it’s very important to ensure that a Tenancy Agreement comes with a Expatriate’s
clause. In the event that the tenant
needs to leave the country and therefore needs to sooner determine the Tenancy Agreement, the said clause comes into
effect. The tenant is required to provide evidence that support his/her reason
for leaving early. In the event that this clause is activated a One or Two months’
notice can be given to the landlord.
Your Real Estate Agent in Malaysia ( REA )can help you
and arrange that a Expatriate’s clause is added in the Tenancy Contract.
After the Tenancy Agreement is signed,
the REA shall take it to be stamped by the Malaysia Inland Revenue Authority to
validate it. The Stamp Duty should be paid by the tenant. The Tenancy Agreement
can also be drawn up by any Solicitors of the Tenant’s choice.
Renewal of Tenancy Agreement.
The Tenancy Agreement usually has a duration of
1 or 2 years, depending on what both parties agree upon. It is very important
for the Tenant and the Landlord to agree on the renewal possibilities once the
tenure is up.
Renewal with possible rent adjustment must
be agreed upon by both parties.
Termination of rental contract.
In order to terminate the tenancy
agreement, the party wishing to terminate has to give a 2 to 3 months written