By Michelle Lim on Mar 26, 2019 4:42:31 PM
Know more about the perks of being a SPEEDHOME landlord.
Click on the question to show the answer. Alternatively, click it to close.
Please e-mail us at email@example.com if you can't find the question/answer you're looking for.
TABLE OF CONTENTS:
What is SPEEDHOME?
SPEEDHOME is an online property platform connecting landlords and tenants to rent direct.
SPEEDHOME provides landlords up to 20x better protection than the traditional deposit and helps them find tenants 5x faster.
Through our partnership with Allianz General Insurance, landlords can get their homes protected up to RM42,000. Tenants get to rent with Zero Deposit.
Note 1: Insurance is only available for those who successfully transact through SPEEDHOME with rental ranging from RM800 to RM5,000 for home and RM300 to RM1,500 for room.
How do I post a property/room?
You can post your property for FREE through the SPEEDHOME website or our mobile app.
- Website: Click on the button that says ‘Post Property FREE’ on the top of our website then continue to fill in your property information. Then sit back, relax and we’ll do the rest.
- Android or iOS app: Click on the post button at the bottom of the app, then proceed to posting your property listing.
Note: SPEEDHOME is completely FREE to download and to use for searching and posting property listings.
How do I edit my listing? / Where can I edit my listing?
- Website: Login and click on the avatar icon on the top right. After that, select "My Listings". Click on the listing and select Edit.
- Android or iOS app: Click the more button on the bottom right of the app, then click on ‘my listing’ followed by clicking on edit listing on the listing that you want to edit.
Can I rent out my place short-term / Can a tenant rent short-term? / Is short-term rental or leasing available?
Yes, you can. SPEEDHOME’s tenancy period starts at a minimum of 3 months and can be extended to a maximum of 12 months.
How does SPEEDHOME protect me? / How am I secured?
SPEEDHOME provides landlords 20x better protection, through several ways:
- With our On-time rental, regardless of whether your tenant pays you on the due date, you’ll receive the money on-time, every time from us.
- We’re as strict as a bank when it comes to running background checks on tenants. We undertake CCRIS & RAMCI credit checks to ensure that you get a good paymaster every-time.
- We understand the pain caused by a tenant ruining your house. So with our Allianz Insurance partnership, your property is protected up to RM42,000. covering damages, theft, unpaid utilities, unpaid rental, etc.
How do I communicate with tenants?
The tenant will send you a chat request.
Interested tenants will click on the ‘Chat With Owner’ button. Once they have filled in some details, we connect you both, allowing you to arrange a viewing.
- Website: Once you have logged into your account, click on the chat icon on the top right of the page. This will open your tenant chats.
- App: We will inform you via SMS and notification on the app. Just click on the link or use the app to chat with the tenant. We advise you to download our app to get updates and instant chat notifications.
Click on the Chat button at the bottom on the app, this will open up your chats with tenants.
What do I do at a viewing appointment?
Our homerunners take care of this for you, so you don’t have to worry about the viewing. Our homerunners team will pick up your house keys to show the house to interested tenants. So you can sit back, relax and let us take care of the viewing.
P.s: As per our records, keys that are collected by our homerunners for viewings can get house rented faster.
If you want to do it yourself…you can, but we do recommend allowing homerunners to do it for you. Landlords that use homerunners close deals 2x faster, and it’s hassle-free!
If you’re doing it yourself, arrange a time and viewing through SPEEDHOME, we’ll create a WhatsApp Group for you and the tenant to meet.
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? / How much does the tenant has to pay for booking fee? / What do I do after a viewing appointment?
Please follow the steps as below:
Step 1: Your tenant will undergo a full background check after paying a booking fee of RM500.
Step 2: Once the tenant clears the background check, proceed to complete our online tenancy agreement, Speedsign
Step 3: Send the link to tenant to fill in their details and sign.
Step 4: Wait for the tenant to make the payment.
Step 5: Sign the tenancy agreement and complete the deal. Now, you can arrange for the handover of keys. Simple!
For assistance, feel free to contact our Customer Support team via the app or send an email to firstname.lastname@example.org
How do I remove my listing?
After logging in, please follow the steps below:
- Tap on the ‘More’ button on the bottom right
- Tap on “My Listing”
- Tap “Archive” on the property you want to remove.
- Click on your Profile icon
- Click on ‘My Listings’
- Click “Archive” on the property you want to remove
How do I benefit from SPEEDHOME?
Here’s how you benefit from SPEEDHOME.
- You will receive Quality Tenants only
We’re as strict as a bank when it comes to running CCRIS & RAMCI credit checks ensuring that you get a good paymaster every time.
- Your house is Protected up to RM 42,000
With our Allianz Insurance partnership, your property is protected up to RM42,000. covering damages, theft, unpaid utilities, unpaid rental, etc.
- You will receive rental on-time, every time
With our on-time rental, regardless of whether your tenant pays you on the due date, you’ll receive the money on-time every time from us.
- You Post and SPEEDHOME will take care of the rest
Our homerunners team will meet your tenant for you and close the deal. So just post your property, sit back relax and we’ll do the rest.
- Dedicated eviction guidance and support
If a tenant defaults or is about to default, our Operations team will guide you with the eviction process
Insurance and Claims
How does Allianz protect me? / How do I deal with damages or loss of goods & furniture?
With our partnership with Allianz General Insurance, you can protect your property 20x better than traditional deposit. Get secured with Allianz up to RM42,000 when you transact using SPEEDHOME
- Loss of rental if your tenant runs away or defaults: up to 2 months
- Inconvenience benefits or minor property damage: up to RM2,000.
- Accidental damage or theft in the property: up to RM30,000
- Demand letters: up to 2
There are three insurance plans for home rental, Please refer to the following visual.
Please take note that:
- There are no other charges for landlords except for insurance charges.
- The insurance cost for Extended and Extended + will be spread over the first two months.
- On-Time Rental is a feature that allows you to get your rental income on time during the entire tenancy period.
You will receive a soft copy of the insurance policy within 21 days after the start date of the tenancy through email.
Note 1: Insurance coverage will only be provided for landlords who have completed transactions with SPEEDHOME (rental ranging from RM800 - RM5,000).
Note 2: The Insurance plans apply to only 12 months and below.
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 as the landlord will pay for the insurance. Please refer to the table below.
Note 1: Insurance coverage will only be provided for landlords who have completed transactions with SPEEDHOME (rental ranging from RM800 - RM5000)
Note 2: Insurance plan only applies to a maximum of 12 months of rental.
How much time does the claim take?
Our landlord claims have been 100% approved by Allianz General Insurance, providing landlords peace of mind. The time taken for you to get your claim amount is as follows:
Do note that you only have 2 weeks after the end date of the tenancy agreement to claim any of the above. After 2 weeks, requests will not be entertained.
Only damages caused by your tenant will be covered by the insurance. Other costs that were caused by other factors will not be covered by the insurance. See here for more info.
How should I proceed with claiming?
Claiming with SPEEDHOME is easy, you need to provide relevant supporting documents as below:
Having a lot of pictures showing the damage is beneficial to speed up the claim time, as Allianz will analyse based on the picture given.
All the claims document needs to be submitted to email@example.com. Contact us at +6018 7777 650 for further assistance on claims.
Is SPEEDHOME’s service free?/How much does SPEEDHOME’s service costs?
All of our services (rental collection, viewing management service, online tenancy agreement service) are FREE for landlords. you do not have to pay anything to post your property ads on SPEEDHOME. It is an open platform, any landlords can go to our website or our mobile app and post their listings for FREE.
There are only insurance charges. The insurance secures your home up to RM42,000 protecting you against loss of rental and property damage.
How does the insurance payment work for landlords with SPEEDHOME’s short-term rental?
Please refer to the following table for the insurance cost and length of rental period.
How much does tenancy renewal cost?
The tenancy renewal cost is fixed at a cost of RM299 + 6% SST and will be paid by the tenant. The landlord will pay for the renewed insurance (see question below)
How much does it cost to renew my Allianz Insurance protection?
To renew your landlord protection, you have the option same options of Basic, Extended or Extended + packages as before.
However, if your tenant has a history of good conduct, you can opt in for a lower rental protection option.
Example: If your monthly rental is RM3,500 and you may choose to protect your property RM2000 worth of rental on basic plan. Your insurance cost would be RM2130 (2000 +SST + RM10) and you would be covered up to 80% of RM2000 rental for two months (instead of 80% of RM3,5000 for 2 months).
How long is a SPEEDHOME tenancy agreement/tenancy period?
Our tenancy period starts at a minimum of 3 months and be extended to a maximum of 12 months.
When do I receive my rental payment?
Your tenant will pay us the rent and we will transfer it to you within 3 working days. If you have On-Time Rental, you'll receive it either on the day of the rental deadline as per the latest tenancy agreement or earlier.
Yes, even if the tenant has made the payment or not you will receive it on time with the On-Time Rental payment.
In the case of default payment, when will SPEEDHOME 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.
You can contact us at firstname.lastname@example.org.
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.
- Mobile app: Click on the bottom right ‘More’ button. Then, click on “Rental Collection” to check the rental status.
Feel free to email our Finance team at email@example.com for your rental problems or concerns.
Do I have to pay SST?
Yes, you need to pay 6% SST on the home insurance policy amount that you need to get once you find a tenant.
Note: The home insurance is only for rooms or homes with rental from RM800 to RM5000.
Where/How do I create a tenancy agreement?
Go to Speedsign to create the agreement.
How do I sign the tenancy agreement?
Just visit 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 SPEEDHOME tenancy agreement/tenancy period?
A standard tenancy period is 6-12 months. We also provide short term tenancy agreements starting from 3 months.
How does SPEEDHOME 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 securing your home up to RM42,000.
What if my tenant wants to terminate the tenancy agreement earlier than the end date?
If your tenant for any reason wants to terminate the tenancy agreement early, he/she must comply with the following terms:
- Notify us (SPEEDHOME) 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?
Yes, a digitally signed tenancy agreement is legal. 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.
Where can I find all the important documents?
Please click on the below links to see the respective documents:
.If you have any further questions, feel free to email us at firstname.lastname@example.org
or call/WhatsApp us at +60 18 7777 650
Last updated: 15 November 2019