Combating Economy Crisis As A Landlord

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Combating Economy Crisis As A Landlord

02:31 24 September in Landlord Education and Problem
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Have you ever been tempted to charge a higher deposit rate? With the fluctuating fuel prices and rising cost of living, a high deposit rate will just decrease the amount of eligible tenants.

In the modern era of Malaysia, it’s safe to say money doesn’t work the same way anymore. Remember when a huge breakfast plate doesn’t cost more than RM2? Now RM 2 can’t even buy you a cup of coffee anymore.

So why, in 2017, should we expect rental to work the same way it did back then? 3 months deposit would no doubt rake up to more than RM3,000. Even a month’s salary won’t be enough to cover half of the deposit imposed.

When that happens, you’re closing off sections of the tenant pool that are eligible to rent your house. It’s absurd to think that someone who can’t pay the deposit won’t be a good tenant, no?

As economy is unstable, high deposit rate will decrease pool of tenants, hence a lower deposit rate should be considered. Don’t you think so?

This is a simple way for you to combat the economy crisis too. When you lower the deposit rate, you’re opening up possibilities to more tenants. When more tenants are eligible to rent, you can easily get the next tenant to fill the house.

Demand for a rental is more than ever now thanks to hiked up real estate prices. So while you might think lowering the deposit rate will cause you a bit of a loss, in the long run you’ll find that an ample supply of tenant is better than getting a huge deposit.

Speedrent is a platform where you can lease your property without worrying about deposit. When you list your property here, you can rest assured that every tenant query that comes your way will be quality ones.

Curious about Speedrent? Give us a call at 0187777650. You can also email us at hello@speedrent.com. Happy leasing!

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