Speedrent

Tenant FAQ

Mar 26, 2019 3:48:33 PM / by admin

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The Basics


 

General

What is Speedrent?

Speedrent is a house rental platform that connects landlords directly with the tenants. Speedrent makes use of a No-Deposit policy. This means that you do not pay the landlord any deposit for moving into the house.

Please watch the below short video to know how Speedrent works for tenants. It will take less than 1 minute of your time.

 

 
Is room rental available to everyone? Yes, this service is available to everyone.
 
Does the insurance apply to tenants? No, the insurance applies to landlords only.
 
How do I search for a house/room?Go to our homepage and click on the search bar. Or, download our mobile app on Google Play or iTunes to start searching. Fill in the details accordingly: area, pricing, furnishing and click on the search button. For room, click on the search bar on the homepage. Then, click "Housing Type" and select "Room".

Search

 

P.S: We recommend that you search for at least 5 houses and put a chat request to at least 5 landlords so that you can find a house faster.
 
What do I do when I find a property I like?/How do I chat with the landlord?If you have found a property that you want to view, follow the steps below:

1. Click on the “Chat with Landlord button”.

2. Put in your request to chat with the landlord.

CR new Kindly give around 24 hours for the landlord to accept your chat request. We'll remind you via SMS. If the landlord has accepted your chat request, you can start chatting with the landlord and decide when to meet the landlord for viewing of the property.   Note: We recommend that you search for at least 5 houses and put a chat request to at least 5 landlords to find a house faster.
 
What do I do if I get no replies from landlords?When you have a landlord that is not cooperating with you or has not replied to your chat request, contact us to help you make a deal. Drop an email at hello@speedrent.com  

 

P.S: We recommend that you search for at least 5 houses and put a chat request to at least 5 landlords so that you can find a house faster.
 
What do I do if I want to rent the house or room after viewing?If you've met the landlord and want to proceed then follow the simple steps below:

1. Ask the landlord to create the tenancy agreement on Speedsign.

2. Our team will give you a call for a quick background check.

3. After signing the agreement you will receive a payment link to make the rental payment.

If you have not received any calls from our team, feel free to email us at hello@speedrent.com

 

P.S: For home rental, No Deposit applies for rental from RM800 to RM5000 only. For room rental, No Deposit applies to those with RM300-RM1500.
 
How long is a tenancy period? A standard tenancy period is 6-12 months.
 
Is there a tenancy agreement? Yes, there is a tenancy agreement. Your landlord will create it on Speedsign and send it to you. After that, you have to click on the link to the agreement and sign it.
 
Who pays for the tenancy agreement? You as the tenant will pay for the tenancy agreement.
 

Room Rental House Rules

 
What happens if the common room is left dirty by my other housemates? Your landlord should be the one in charge to engage with our cleaning partners for the cleaning as there is a once-a-month cleaning service.
 
Are there any house rules to follow? / What are my responsibilities when I rent a room? The basic house rules are as follows:
  1. Kitchen use: Everybody should clean up after cooking. All dishes and cookware used should be cleaned after use and left to dry.
  2. Cleaning duties and supplies: Cleanliness of the house should be maintained well together. Supplies should be purchased by you.
  3. Common area use: Everybody is to clean up after themselves or any guests in common area.
  4. Pets: Pets are only allowed after informing Landlord and given the consent to do so.
  5. Conflict resolution: In the interest of household harmony, you agree to make reasonable efforts to maintain a peaceful environment within the House and shall work together to resolve any differences
  6. Noise level: You are to be considerate to other tenants and/or neighbours by keeping the noise low.
  7. Drug use: Any type of illegal drug is not to be brought around, kept or used in the house.
  8. Additional tenants: Only the Tenant stated in the tenancy agreement is allowed to occupy the room.
 

Payment


 
Is the Speedrent service free?

It is free to search through our listings. Only once you have decided to rent the house, you as a tenant will have to pay the following before moving in.

  House rental

1st month’s rent + last month’s rent + (RM399+6% SST) tenancy agreement fee

Note that this is an advanced prepayment. After paying, you will not have to pay rental for the 1st month and last month. You just pay as usual for the remaining months.

  Room rental:

1st month’s rent + last month’s rent + (RM149+6% SST) tenancy agreement fee

 

#Room Rental Note: utilities are included in the rental for room.
 
How much is the tenancy agreement?/Will there be SST/tax charged? / Is there going to be SST? Yes, 6% SST will be charged on the tenancy agreement.

For room rental, the tenancy agreement will cost RM149 + 6% SST.

For normal house rental, the tenancy agreement will be RM399 + 6% SST.

 
Who do I pay the rental to?You will pay the rental to Speedrent every month. Speedrent will send you an invoice every month to your email 3 days before the due date.
 
How do I pay the rental? / How does payment work for room and house? / How much do I have to pay before moving in?

For room rental and house/property rental, it's the same. We'll send you an invoice every month to your e-mail 3 days before the due date.

You can click on the payment link to pay via:

1. Credit/debit card

2. Online banking

3. ATM/CDM

 
How much do I have to pay for No Deposit?/Is there No Deposit for Room/House Rental?There is no fee for you to get No Deposit Rental scheme.
  • Room: No Deposit is applicable to those with rental from RM300 to RM1500.
  • House:
  • No Deposit is applicable to those with rental from RM800 to RM4000.

Once you have decided to rent the place, you as a tenant will have to pay as below before moving in:

  • Room: First month's rent + Last month's rent + (RM399+6% SST) tenancy agreement fee
  • House: First month's rent + Last month's rent + (RM149+6% SST) tenancy agreement fee

#Room Rental Note: utilities are included in the rental.

After this payment, you simply pay the rent for the remaining months.

Note: 6% SST will be charged on the tenancy agreement fee.

 
Do I pay in the month itself or before moving in?You have to make the full payment to collect the keys before moving in. If you need some time, you can book the property with a minimum of RM500 and pay the remaining amount later before moving in. The full amount includes the 1st month's rent, last month's rent, and tenancy agreement fee - RM399+6% SST for House's and RM149+6% SST for Room's. For payment chart, please refer to the following:   Tenant Move In Payment Schedule
 
Will you notify me if/when my credit card is rejected?

Yes, we will notify you within 24 hours. We will attempt to charge again within 3 days.

 

Tenancy/Background Check


 
How do I sign the tenancy agreement?You can either go to Speedsign hereto sign your agreement or go to Speedsign in the Mobile App (download on Google Play or iTunes) to sign your agreement. >

 

What to do if i want to rent the house after viewing
 
With No Deposit, does that mean I can leave the property anytime?

No, you cannot leave the property anytime before the contract ends.

If you want to leave before the contract ends, then as per the tenancy agreement you will have to give 2 months’ notice or pay the two months’ rent before leaving. Also, you will have to pay for your utilities of the last month you stayed before leaving the property.

 

P.S: If you want to terminate your tenancy early, please note that the last month’s rent is not refundable and will be forfeited.

 
How much do I have to pay for the tenancy agreement?

The tenancy agreement will costs RM399+6%SST (House) / RM149 + 6% SST(Room), which includes the digital tenancy agreement prepared by Speedrent and the stamp duty by Lembah Hasil Dalam Negeri (LHDN).

 
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.

 
What are CCRIS and CTOS checks?

CCRIS checks for your loan and payment history for the past 12 months.CTOS checks if you have sufficient credibility to pay the rent. This is done by checking your credit history for the past 24 months.

Speedrent will perform these checks before you start renting our No-Deposit properties.

 
What does the background check entail? / What documents should I bring for background check?A: If you are a Malaysian citizen, we will check the following:

1. Employment Offer Letter (if you are working) or University Offer Letter (if you are a student)

2. Past 3 months’ bank statements

3. CCRIS & CTOS score

If you are a foreigner, we will check the following:

1. Passport Copy

2. Visa Copy

3. Employment Offer Letter (if you are working) or University Offer Letter (if you are a student)

4. Past 3 months’ bank statements

 
What if I want to terminate my tenancy agreement early?

If you want to terminate the tenancy agreement early, you must:

1. Give your landlord 2 months’ notice before the termination date.

2. Should you need to leave immediately, you must pay 2 months’ rental as a penalty.

3. Arrange for the handover of keys upon moving out.

#Please note that the last month rental you paid when moving in will not be refunded.
 
Will the last month’s rent be carried, forwarded or refunded if I terminate my tenancy early? No, the money will not be refunded. It will be forfeited as you did not complete your tenure as signed in the tenancy agreement.
 
What happens when the tenancy agreement ends? / What if I completed my tenancy?

You have two options:

1. Renew the tenancy agreement for another period of 6 to 12 months.

2. Move out after the end of the agreement.

When you move out you must take care of the following:

1. Clear all utility bills

2. Arrange a handover of keys with your landlord

 
Will my credit card be charged automatically every month? A: Yes, it will be charged automatically every month.
 
Will I be informed if my credit card fails to be charged? A: Yes, we and your bank will inform you.

 

 

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Topics: speedrent, Tenant FAQ

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