Landlord FAQ

MANDARIN BAHASA MALAYSIA

 

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Welcome to our Landlord FAQ!

 

Overview

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SH_ONEPAGER_LANDLORD OVERVIEW

Landlord FAQ

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

 

TABLE OF CONTENTS:

 


Basics


What is SPEEDHOME?

SPEEDHOME 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 their homes protected up to RM42,000. Tenants get to rent with Zero Deposit.

 

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

 

Note 2: There are only insurance charges for landlords. No other charges for using SPEEDHOME's services.

 

 

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 Property FREE’ 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: SPEEDHOME is completely free-to-use for searching and posting listings.

 

Note 2 (landlords): No other charges except for Insurance charges.

 

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

Login and click your name. After that, select "My Listings". Click on the listing and select 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 protects you in several ways.

Note: There are no other charges for landlords besides insurance charges.

 

How do I communicate with tenants? The tenant will send you a chat request.

 

Website

  • Click “Login” on the top right.
  • Enter your mobile number and use SMS or WhatsApp to receive a verification code
  • Enter the code to verify your account
  • Click on your Profile icon on the top right beside “Post Property FREE”
  • Click on “Chat”

 

App

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. We advise you to download our app on Google Play or iTunes to get updates and instant chat notifications.

  • Tap on the top-right icon beside SPEEDHOME
  • Tap on “Login/Register” to receive a One-Time Passcode
  • Enter the code and tap “Next”
  • Tap on the Chat icon at the bottom

 

What do I do at a viewing appointment?

Our homerunners team will help you with the viewing for free. Just sign up here.

 

updated homerunners sept 2019

 

If you want to do it yourself...

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.

  • Website: Go to Speedsign and create a tenancy 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.

 

speedsign

 

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

 

How do I remove my listing? After logging in, please follow the steps below:

 

For App

  1. Tap on your Profile Icon on the top right
  2. Tap on “My Listing”
  3. Tap “Archive” on the property you want to remove.

 

For Website

  1. Click on your Profile icon
  2. Click on 3 dotted lines on the picture of your listing
  3. Click “Archive”

 

How do I benefit from SPEEDHOME? Here’s how you benefit from SPEEDHOME.

 

  1. Free to Use: Post listings free of charge.
  2. Rental Protection up to RM42,000: Get secured up to RM42,000 for your home with Allianz 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 working 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 SPEEDHOME 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 and Claims


 

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

For Home insurance, you can get secured with Allianz up to RM42,000 when you transact using SPEEDHOME with rental from RM800 to RM5,000.

 

  1. Loss of rental up to 2 months: if your tenant running away or defaults
  2. Inconvenience benefits or minor property damage: up to RM2,000.
  3. Accidental damage or theft in the property: up to RM30,000
  4. Demand letter: up to 2 demand letters

There are two insurance plans for home rental, and they cover the following:

 

speedhome basic and extended insurance plans

 

Note 1: There are no other charges for landlords except for insurance charges.

Note 2: Room rental insurance is optional. You can choose between insurance or asking for a deposit.

 

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.

 

landlord rental period insurance payment
 

Note: Insurance coverage will only be provided for landlords who have completed transactions with SPEEDHOME (rental ranging from RM800 - RM5000 for home and RM300-RM1500 for room.).

 

Note 2: The Basic Insurance plan applies to only 12 months and below. The Extended Insurance plan only applies to 12 months' rental period only.

 

How much time does the claim take?

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

 

claims time period-1

 

Do note that you only have 2 weeks after the end date of tenancy agreement to claim any of the above. After 2 weeks. requests will not be entertained.

 

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. See here for more info.

 

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.

 

claims 2


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

 

Note: Cleaning charges is applicable to Room Rental only.

 

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@speedhome.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.

 

Note: We recommend getting insurance and our lawyer-reviewed room rental tenancy agreement to protect your rights.

 

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

Yes, there is a limit for adding utility/internet bills to your rental. Using your past utility/internet bills as a reference, you can estimate the cost.

 

Just divide the estimated cost by the number of rooms or number of tenants you have.

 

Note: We recommend getting insurance and our lawyer-reviewed room rental tenancy agreement to protect your rights.

 

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 up to RM200 with your insurance and hire a cleaner.

 

Is there room rental insurance?

Yes, there is room rental insurance coverage up to RM3700.

 

room rental insurance

 

How much does room rental insurance cost?

The room rental insurance costs: 1st month’s rental + 6% SST* + RM10 insurance stamping fee*

 

Note:: Room Insurance is applicable for rental price range from RM300 - RM1500 only.

 

How does claims work for room rental insurance?

Please refer to the following table.

room rental claims

 

 


Payment


 

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

All of our services (Posting a listing, rental collection, viewing management service, online tenancy agreement service) are FREE for landlords. There are only insurance charges. The insurance secures your home up to RM42,000.

 

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.

landlord rental period insurance payment

 

How much does tenancy renewal cost?

The tenancy renewal cost is fixed at a cost of RM199 + 6% SST and will be paid by the tenant.

 

Who pays for the tenancy renewal?

The tenant pays for the tenancy agreement when it is renewed.

 

How long is a SPEEDHOME tenancy agreement/tenancy period?

Our tenancy period starts at a minimum of 6 months and be extended to a maximum of 12 months.

 

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. 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.

 

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 finance@speedhome.com.

 

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@speedhome.com for your rental problems or concerns.

 

Do I have to pay SST?

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

 

Note: The home insurance is only for homes with rental from RM800 to RM5000.

 


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 SPEEDHOME tenancy agreement/tenancy period?

A standard tenancy period is 6-12 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 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 (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.

 

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