| The Malaysia rental market is different and unique in contrast to the other established markets in the world, such as UK, USA, and India to name a few. In Malaysia the demand rises with the influx of expatriate seeking job interviews in this growing economy.
How does the Malaysia rental market work?
In Malaysia, the Landlord pays the agents fee as opposed to the tenant. The fee charged to a landlord is normally 1 month rental. The landlord / owner, if overseas can opt for property management options provided by various agencies at an agreed management fee agreement.
If renting a property in an unfamiliar country, it is important that a reputable agent is used to ensure that the tenancy is handled correctly and all the legal requirements are met. There are many agents offering properties for rent, and many that do not employ standards that the Western world would be expecting. Cabana worldwide follows government guidelines so that we can confidently offer up to date, precious advice to landlords and tenants alike in all aspects of renting.
Properties are offered largely on annual contracts and in most instances the landlord receives the rent 1 month in advance and the rest will pay end of each month.
Security deposit is 2 month rental fee and half month for Utility charges, which has to return back to the tenant after expire date of the contract.
Many tenancy contracts are very vague and basic, and offer little clarification to either party regarding issues such as responsibilities for maintenance, termination of contract and usages. At Cabana Worldwide we use the standard template provided in the market, however, we add additional clause to cover and secure both parties to the best of our ability.
Suitable tenants are vetted and checks are made to ensure that they have the right to legally reside in the Malaysia. In all circumstances passport copies are obtained and work references obtained. In most circumstances the landlord has the right to approve or reject a tenant at his discretion.
For overseas landlords, Cabana Worldwide offers a property management service and is able to ensure that the tenant successfully fulfills their obligations of the tenancy. We can offer to take care of any issues that arise during the first few months of the tenancy, leaving landlords with sound piece of mind knowing that all affairs are dealt with appropriately and hassle free. The property management service depends on the kind of overseeing jobs to be undertaken by Cabana Worldwide and based on that a cost will be assigned, not exceed existing market terms.
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