Speedrent

Landlord FAQ

Mar 26, 2019 4:42:31 PM / by admin

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E-mail us at hello@speedrent.com if you can't find the question/answer you're looking for.

 

 

 

What is Speedrent?

Speedrent is an online home rental platform connecting landlords and tenants to rent direct. It is completely free to use for landlords and tenants to post and search. Through our partnership with Allianz General Insurance, landlords can get insurance to secure their property up to RM26,000. Tenants get to rent with No Deposit.

NOTE: Insurance is only available for those who successfully transact through Speedrent with rental ranging from RM800 to RM5000 for property and room with RM300-RM1500.

 

 

How do I post a property/room?

You can do it through the website or our app which you can download from Google Play or iTunes.

  • Website: Click on the top left button that says ‘Post Your Property’ and follow the instructions on the page.
  • Google Play app: Click on the top left on the three horizontal lines. On the pop up bar, click on “My Listings” and then click on the + button in yellow on the bottom right to post your property.
  • iOS app: Click on the "My listing" button at the bottom and then click on create my listing to list your property.

Note: Speedrent is completely free-to-use for searching and posting property.

 

How do I edit my listing? / Where can I edit my listing?

Website: Login and click your name. After that, select "My Listings". Click on the listing and select Edit.

 

App: how to edit

 

How does Speedrent protect me? / How am I secured?

Speedrent protects you in several ways.

  • Free rental collection and reminder to tenants. We help you collect the rent and chase after tenants for payment. We remind them about rental payment deadlines through WhatsApp and SMS.
  • 360 degree layered tenant screening: We help you find quality tenants by screening potential tenants thoroughly with a background and credit score check (CTOS and RAMCI).
  • Secure your house/property up to RM26,000 or room up to RM3,700. Get your property secured with Allianz General Insurance up to RM26,000 or room up to RM3700. For house/property, the insurance covers inconvenience benefits, loss of rental up to 2 months, property damage (minor and accidental) and theft in the property. Forroom, the insurance covers all risk on household goods (excluding personal effects and in aggregate) up to RM500, loss of rental up to 2 months, fee for 2 demand letters and cleaning damages or minor repairs up to RM200.

 

How do I communicate with tenants?The tenant will send you a chat request. We will inform you via SMS and notification on the app. You'll have to click on the link or use the app to chat with the tenant. Meanwhile, our sales team will also connect you with the tenant via WhatsApp. We advise you to download our Speedrent App on Google Play or iTunes to get updates and instant chat notifications.

P.S: The No Deposit Scheme only applies to houses that have a rental from RM800 to RM5000 and rooms from RM300-RM1500.

 

What do I do at a viewing appointment?

Meet the tenant and ask any relevant questions to clear all your doubts and negotiate the rental to avoid conflicts and miscommunication. Some questions you can ask are:

  • How long are you staying?
  • When do you want to move in?
  • Are you working or studying here?

 

I have a deal. What do I do now? / How do I close a deal? / What do I do after a viewing appointment?

First, Go to Speedsign. Fill in all the details and send the agreement to the tenant to sign. After the tenant signs and sends it back, you sign it. A payment link will be sent to the tenant to pay. After payment, the deal is complete and you can arrange for the handover of keys.

  • Website: Go to Speedsign to create the agreement.
  • Android App: Click on the top left horizontal lines. Then, click on Speedsign to proceed.
  • iOS App:: Click on the “More” button at the bottom. Then, click on Speedsign to proceed.

Fill in all the details and send it to the tenant to sign. The tenant will then fill in the information, sign and send it back to you to sign. The tenant will then receive an email about the payment. After the tenant pays, the deal is complete.

For assistance, feel free to contact our Customer Support team via the app or send an email to hello@speedrent.com

 

How do I remove my listing? You can follow the below steps to remove your listings:

Android App:

Delete Listing Android 2.0 1. Click on the top left horizontal lines. 2. Click on “My Listing”. 3. There is a delete button on your listing. Click that to delete the listing.

 

iOS App:

Delete Listing iOS 2.0

1. Click on “My Listing” from the bottom bar. 2. There is a delete button on your listing. Click that to delete the listing.

Website:

1: See to it that you are logged in

2: Under your name, you will find the "My Listing" button

3: Click on it

4: Click "Delete" to remove your listing.

 

How do I benefit from Speedrent?Here’s how you benefit from Speedrent.
  1. Free to Use: Post a listing (or listings) free of charge.
  2. Protection up to RM26,000: Get secured up to RM26,000 for your house or RM3,700 for room with Allianz General Insurance after successfully leasing with our platform.
  3. Free Rental Collection - We’ll help you collect the rent and remind your tenants 3 days before the rental deadline. Do take note that rental collection will take 3 days. Our operations team will provide you frequent updates on the status of the rental, even in case of delay in payment by the tenant. You do not have to chase after the tenant.
  4. Eviction Process Assistance: If a tenant defaults or is about to default, our Operations team will guide you with the eviction process
  5. Layered Tenant Screening: To avoid/minimize defaults, we at Speedrent screen your tenant with a strict background check on the tenant before renting the property to any tenant.
  6. Letter of Demand: We provide you up to 2 letters of demand in case your tenant delays in paying the rent.

Insurance


 

How does Allianz Insurance protect me? / How do I deal with damages or loss of goods & furniture?

For House/Property, you can get secured with Allianz General Insurance up to RM26,000 when you transact using Speedrent with rental from RM800 to RM5,000. The insurance covers:

  • Loss of rental up to 2 months: if your tenant running away or defaults
  • Inconvenience benefits or minor property damage: up to RM1,000.
  • Accidental damage or theft in the property: up to RM15,000
  • Demand letter: up to 2 demand letters

 

For Room, you can get secured with Allianz General Insurance up to RM3,700 when you transact using Speedrent with rental from RM300 to RM1,500. The insurance covers:
  • Loss of rental up to 2 months: if your tenant running away or defaults
  • Cleaning charges or minor damages: up to RM200.
  • Accidental damage or theft of household content in the room occupied: up to RM500
  • Demand letter: up to 2 demand letters

 

When will I get the copy for Allianz Insurance policy?You will receive a soft copy of the insurance policy within 30 working days after the start date of the tenancy through email.

 

Who will pay for the Allianz Insurance?You can get the insurance using your last month’s rental after successfully renting out your property.

 

What it costs: Last month’s rent + 6%SST + RM10 stamping fee for insurance

 

NOTE: The 6%SST and RM10 will be deducted from your 1st month's rent. Insurance coverage will only be provided for landlords who have completed transactions with Speedrent (rental ranging from RM800 - RM5000 for property/house and RM300-RM1500 for room).

 

How much time does the claim take?

The time taken for you to get your claim amount is as follows:

ROOM  
Loss of rental up to 2 months 3-7 days
Inconvenience benefits / utilities & cleaning charges up to RM 200 3-7 days
Accidental damage or theft of household content up to RM500 21-30 days
   
PROPERTY (House, condo unit...)  
Loss of rental up to 2 months 3-7 days
Inconvenience benefits / utilities & minor repairs up to RM 1000 3-7 days
Accidental damage or theft of household content up to RM15,000 21-30 days
   

You get 2 weeks after the end date of tenancy agreement to claim any of the above.

Any consequential loss or damage of any kind will not be insured. They are only covered should the losses/damages be caused by your tenant.

 

How does claiming work?

For claims, you need to file a police report and have the relevant supporting documents. The supporting documents are as listed below.

  • Inconvenience benefits: outstanding bills (e.g: TNB or Water Bills)
  • Cleaning charges (room only): receipt/invoice and pictures of dirty premise need to be provided.
  • Minor damages: invoices/receipts/quotation for fixes along with pictures from different angle of the damages.
  • Theft and damage to household content: invoices/receipts/quotation with pictures of damages/police report (theft).

Having a lot of pictures showing the damage is good as Allianz Insurance will analyse based on the picture given.

If the tenant runs away or moves out without giving any notice, you also need to make a police report and submit it to finance@speedrent.com. Contact us at +60187777650 for further assistance on claims.

 


Room Rental and utilities' cost


 

Can I add the utilities and internet charges in my room rental amount? / What if the tenant in the room doesn’t pay for utilities/internet?

Yes, you should add utility and internet charges to your rental amount. Utilities and internet charges should be included.

 

Is there a limit for utility/internet costs being included in the rental amount?

Yes, there is. You should estimate the cost properly. If the total amount is set too low, you will lose out on money. Be careful when you combine your utility bills and rental!

 

What should be included with my rental?

Your rental amount should include utilities, Internet and once a month cleaning costs. Note that if you set your rental amount too high, it will be difficult for your property to attract tenants. We highly advise you to check out the average value of the same properties in the surrounding area and calculate costs before setting the amount

 

What if the tenant keeps the common room dirty? Who will do the cleaning?

The tenant is responsible for their own room. If the tenant moves out and leaves the room dirty, you can claim cleaning charges from Allianz Insurance up to RM200.

 


Payment


 

Is Speedrent’s service free?/How much does Speedrent’s service costs?

It's completely free for you to post a listing. Because of our partnership with Allianz General Insurance, you can get Insurance from us using your last month’s rent. The insurance secures your property up to RM26,000 and room up to RM3700.

 

How do I receive my rental income?

Your tenant will pay us the rent and we will transfer it to you within 3 working days.

 

In the case of default payment, when will Speedrent pay me? / What if my tenant refuses to pay rent / What if my tenant defaults?

Within 2 weeks after the tenant still hasn’t paid the rental on the agreed date (specified in the tenancy agreement) and left the premise, you must file a police report of this incident and inform us. We will process the claim procedure on your behalf.

 

Will I be notified in case of non-payment / if rental hasn't been paid or transferred to me?

Yes. We will always keep you notified in case of any delay in the payment via SMS, WhatsApp and phone calls. You can also check the rental status using the app.

  • Android app: Click on the top left three horizontal bars. Then, click on “Rental Management” to check the rental status.
  • iOS app: Click on “More” at the bottom of the screen. Then, click on “Rental Management” to check the rental status.

Feel free to email our Finance team at finance@speedrent.com for your rental problems or concerns.

 

Do I have to pay SST?

Yes, but only if you're getting the insurance.

Note: The RM26000 insurance is for rental from RM800 to RM5000 while RM3700 insurance is for room rental from RM300-RN1500.


Tenancy agreement


 

Where/How do I create a tenancy agreement?

Go to Speedsign to create the agreement.

 

How do I sign the tenancy agreement?

First, go to Speedsign to sign the tenancy agreement.

OR

Go to the mobile app and click on Speedsign to sign the tenancy agreement.

 

Who pays for the tenancy agreement?

The tenancy agreement fee is paid by the tenant.

 

How long is a tenancy agreement/tenancy period?

A standard tenancy period is 6-12 months.

 

How does Speedrent protect me? / How am I secured?

We screen your potential tenant’s credit history and also do a background check. After you successfully lease with us, you can get insurance with Allianz General Insurance which secures you up to RM26,000 for house/property or RM3700 for room.

 

What if my tenant wants to terminate the tenancy agreement early? / terminates the tenancy agreement early?

If your tenant for any reason wants to terminate the tenancy agreement early, he/she must comply with the following terms:

  • Notify us (Speedrent) and you (landlord) 2 months' before the termination date.
  • IF... he/she needs to leave immediately, he/she must pay two months rental as a penalty.
  • Arrange the handover of keys upon moving out.

 

Is a digital tenancy agreement legal in Malaysia?

A digitally signed tenancy agreement legal and the duty stamped copy will be admissible in court under Section 7 of Electronic Commerce Act 2006 and Section 62(2) of Digital Signature Act 1997.

Section 7 of Electronic Commerce Act 2006 basically states that an electronic message can be used to express any related communication when it comes to a contract formation.

As for Section 62(2) of Digital Signature Act 1997, a document signed with a digital signature is as legally binding as a document signed with a handwritten signature, an affixed thumbprint or any other mark.

 

Post your property

 

Topics: Landlord FAQ, speedrent

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