The current economic turmoil has caused a lot of companies to take some drastic measures in order to remain competitive and to ensure business continuity in order to remain competitive. Companies had chosen to downsize and close down their unprofitable units or department, which has directly increase unemployment rate when staff and headcount was reduced in Malaysia. Fresh graduates and young working professionals are struggling to make ends meets and cutting down their cost of living in order to survive the current pandemic. Hence, the most viable option for them is to rent a place and live as a tenant. However, there are certain challenges that often comes with the rental package. Let’s take a look at some of the most common rental challenges faced by tenants in Malaysia.
- The right one
The ideal room would be the one close to work and conveniently located near eateries, malls and public transport essentials amenities to make life easier. However, a great place normally comes with a higher price tag. Once we sign the tenancy agreement, it is a contract enforceable by law hence we can’t skip the rental, and the monthly rental fees is fixed. Therefore, it is important for tenants to budget within their means to have enough for the monthly rental. For example, if your salary was RM3000 and reduce to RM2500 due to the pandemic, its wise to budget a 30% for maximum rental at RM750 with remaining 70% for lifestyle cost + savings as a rule of thumb.
- Hefty deposits
The most common burden to a lot of tenants is that some owners or property rental management expect a hefty amount of deposits to rent a space to live in. The common combination would be 2.5 months rental deposit, utilities deposits and maintenance deposits. This means that to rent a space to live in, the tenant would need to fork out thousands at the start of the month to ensure that the tenant has a roof over the head.
- Untimely eviction
Some tenants are unfortunate enough to be evicted from their room before the expiration of the tenancy agreement. This can be due to unforeseen circumstances such as eviction due to landlord bankruptcy, or when the landlord request you to vacate the premise immediately for their own personal usage. Therefore, it is important for tenants to go through their tenancy agreement and ensure that there is a clause that protects them in these circumstances.
- Withholding of deposits
The nightmares of coming face to face with tenants that withhold the tenant deposits after the expiration of the tenancy contract is not something new in the rental market. Some tenants were unlucky enough that it took them years to get their deposits back or some just give up on the idea of it. A good way to protect yourself is to take pictures of the space that you rented so that you can have proof of it in the event the landlord refuses to return your deposits due to alleged damages that were not done by you.
- Hidden cost
Imagine that on top of paying your monthly rent, you would still have to pay a bunch of hidden cost on a monthly basis or a first-time lump sum whereby in the long run you are paying more than the initial agreed amount! These hidden charges can come in form of wifi bills, utility bills, cleaning fees, maintenance fees or wear and tear charges. Therefore, to avoid yourself from being a victim of all of these, ask before signing your tenancy agreement. Have them in written format as evidence of the confirmation obtained from your landlord. Your tenancy agreement and house rules are important documents that can ensure that your rights as a tenant are protected.
At theKatil, we always ensure that we keep our tenants best interest at heart. We run on a flexible and open communication concept whereby in the event of any rental doubts, the tenants can always approach us via Whatsapp or call us at any time to clear their doubts. Our rental premise doesn’t come with any extra charges as we practice the one price all in concept and we are transparent in our charges for our tenants. In the event whereby you are eligible for our Zero Deposit Program after performing a credit check, we would sign you up for it hassle-free!
Check out thekatil.com or call 019-9131914 or http://Wasap.my/+60199131914/TheKatil for room viewing/booking today after taking a virtual tour of the rooms at theKatil.com!