Guide in Renting A Property in Malaysia

Guide in Renting A Property in Malaysia

When renting a property in Malaysia, we act as your Independent Investment Consultant to liaise with property agents and property owners to source the right property, to negotiate the right terms and conditions in the renting agreement. As a tenant, you would like your tenancy agreement to be properly spelt out to protect your interest during your tenancy period. Proper handover during check-in and check-out will help to protect your deposits as well as avoid any disputes and unwanted actions taken by the landlord.

 

The minimum rental period for residential property is one year. The usual deposits required for renting will be 2 months in advance and half month for utility and notice of termination is usually minimum 2 months. Monthly rental is payable via bank-in directly to the property owner’s bank account.

As a tenant, you need to pay in preparation of rental agreement and also stamp duty for this agreement.  Agent fees and commission will be paid by the property owner.

The guide to legal fees and stamp duty payable in preparation of rental agreement is as follows:

Legal Fee for Rental Agreement period of below 3 years:
For first MYR 10,000 rental – 25% of the monthly rent
For the next MYR 90,000   – 20% of the monthly rent
Where rent is in excess of MYR 100,000 – negotiable

Legal Fee for Rental Agreement period of above 3 years:
For first MYR 10,000 rental – 50% of the monthly rent
For the next MYR 90,000    – 20% of the monthly rent
Where rent is in excess of MYR 100,000 – negotiable

Stamp duty payable to Land Office for Tenancy:
Rental for every MYR 250 in excess of MYR 2,400 rental
Less than 1 year : MYR 1
Between 1-3 years : MYR 2
More than 3 years: MYR 3
Note: Rental amount below MYR 2,400 – no stamp duty.

For an example renting of property of MYR3,000 per month:
Legal fee  : MYR 3,000 x 25% = MYR 750
Stamp Duty : (MYR 36,000 (annual rent)-MYR 2,400/MYR 250) x 1 year = MYR 134.40 

Total fees payable for legal fee and stamp duty will be MYR 884.40.

During the tenancy, the utilities bill such as electricity, water and gas is payable by you as tenant. The monthly property maintenance payable to management office will be at the responsibility of the property owner. Designated car park will be allotted for you by the property owner and it is free-of-charge.

Selecting the Right Location to Stay:

Below are the main places currently occupied by most expatriates in Malaysia. These areas usually surrounded with complete facilities such as nearby schools, medical facilities, shopping malls and easy connectivity with highways. 

• Ampang – “The Embassies Area”
• KLCC – “The City Centre”
• Mont Kiara – The Beverly Hills of Kuala Lumpur”

Rental prices vary from MYR 1,800 for one-bedroom to MYR 5,000 for three bedrooms fully furnished home with good security and facilities such as swimming pool, playground for children, gymnasium,etc.

Our step-by-step guide and complete services in Renting A Property in Malaysia include:

1. Property Renting Tour for selection the right property and location, matching your profile
2. Property Renting booking, negotiation and agreement vetting
3. Settling in and final follow up 
Make appointment and talk to us on your needs for property to rent, we simplify the renting process for you! Call us at +603-2181 2882 or email us at contact@expatriateadvisory.com