Rent House Malaysia
Malaysia is home to many rental opportunities. If you are looking for an Apartment, Condominium, Bungalow or Townhouse, rental properties Kuala Lumpur Malaysia, High-rise in the City Centre of Kuala Lumpur, house for rent in 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 of House for Rent in Kuala Lumpur and Cities.
Malaysia had standard procedures when you are finding a house for rent in Kuala Lumpur or any other cities in Malaysia.
After you find your perfect rental properties, Kuala Lumpur Malaysia, and you agree to 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 two 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 an Expatriate's clause. If 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 supports his/her reason for leaving early. If 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 an 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 crucial for the Tenant and the Landlord to agree on the renewal possibilities once the tenure is up.Renewal with reasonable rent adjustment must be agreed upon by both parties.
Termination of rental contract.
To terminate the tenancy agreement, the party wishing to terminate has to give a 2 to 3 months written the notice.
RE/MAX Malaysia works with professional REA’s ( Real Estate Agents) and RENs (Real Estate Negotiators) who can guide you throughout the whole process of finding that perfect house for rent in Kuala Lumpur and other cities for you and to negotiate on your behalf.
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