Landlord FAQ

Click on the question to show the answer. Alternatively, click it to close.

E-mail us at hello@speedrent.com if you can’t find the question/answer you’re looking for.


Basics


 

What is Speedrent?

A: Speedrent is an online home rental platform connecting landlords and tenants to rent direct. It is completely free to use for landlords and tenants. Through our partnership with Allianz General Insurance, landlords are given the option to get insurance protection to secure their property up to RM26,000.

Note: Insurance is only available for those who successfully transact through Speedrent with rental ranging from RM800 to RM5000.

Please watch the below short video to know how Speedrent works for landlords.

It will take less than 1 minute of your time.

 

How do I post a property?

Website: A: Click on the top left button that says ‘Post Your Property’ 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.

 

How do I edit my listing?

Website: A: Login and click your name. After that, select “My Listings”. Click on the listing and select Edit.

If you’re on the App or want to edit your listing on the app:

how to edit

 

How does Speedrent protect me?

A: Speedrent protects you in several ways.

  • 360 degree layered tenant screening: We help you find quality tenants to minimise risk by screening potential tenants thoroughly. We perform a background and credit score check (CTOS and RAMCI) on your potential tenants.
  • Secure your property up to RM26,000. We help secure your property by giving you the option to insure your property with Allianz General Insurance up to RM26,000. The insurance covers inconvenience benefits, loss of rental up to 2 months, property damage (minor and accidental) and theft in the property.
  • Free rental collection and reminder to tenants. We help you collect the rent and chase after tenants for payment. We remind them about rental payment deadlines through WhatsApp and SMS.

 

 

How do I communicate with tenants?

A: After the tenant has seen checks your property listing on Speedrent, he/she will send you a chat request that you will receive a chat request from the tenant. We will inform you via SMS and notification on the app. You will have to click on the link or use the app to chat with the tenant.
Meanwhile, our sales team will also connect you with the tenant via WhatsApp. We advise you to download the App to get updates and chat notifications.
P.S: The No Deposit Scheme only applies to houses that have a rental from RM800 to RM5000.

 

What do I do at a viewing appointment?

A: Meet the tenant at your rental property for the viewing of the property. We advise you to ask the tenant any relevant questions to clear all your doubts and negotiate the rental at this point to avoid conflicts and miscommunication.

 

I have a deal. What do I do now?

What to do if i want to rent the house after viewing landlordA: Create a tenancy agreement.

Website:
Go to https://speedsign.speedrent.com/ to create the 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.

Fill in all the details and send it to the tenant. The tenant will then fill in the information, sign the contract and send it back to you. This is where you’ll need to sign it.

After tenant has signed, she/he will receive an email about the payment. The tenant needs to click on the link to make the payment.

If you’re facing any further issues, do contact Speedrent Customer Support team via the app or send an email to hello@speedrent.com.

 

How do I remove my listing?

A: You can follow the below steps to remove your listings:

Android App:

Delete Listing Android 2.0
1. Click on the top left horizontal lines.
2. Click on “My Listing”.
3. There is a delete button on your listing. Click that to delete the listing.

iOS App:

Delete Listing iOS 2.0

1. Click on “My Listing” from the bottom bar.
2. There is a delete button on your listing. Click that to delete the listing.

Website:

1: See to it that you are logged in

2: Under your name, you will find the “My Listing” button

3: Click on it

4: Click “Delete” to remove your listing.

 

How do I benefit from Speedrent?

A: Here’s how you benefit.

1. Free to Use – Speedrent is completely free-to-use.

2. Protection up to RM26,000 – You can choose to be secured up to RM26,000 with Allianz General Insurance when you use our platform. The insurance covers loss of rental up to 2 months, inconvenience benefits or minor damages in the property, accidental damage in the property, and theft in the property.

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 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. Assist with Eviction Process – When a tenant is about to default or already defaulted, Speedrent’s operations team will guide you with the eviction process.

5. Free Tenant Background Check To avoid/minimize defaults, Speedrent runs 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


 

How does Allianz Insurance protect me?

A: Allianz General Insurance provides landlords you with an option to secure their your property up to RM26,000 when you transact using Speedrent with rental from RM800 to RM5,000. The insurance covers:

  • Loss of rental up to 2 months in the case of your tenant running away or defaulting
  • Inconvenience benefits or minor property damage up to RM1,000.
  • Accidental damage or theft in the property up to RM15,000

 

How do I deal with damages or loss of goods & furniture?

A: Allianz General Insurance Company (Malaysia) Berhad (735426-V) will provide up to RM1000 to cover any minor damages or inconvenience benefits as a result of the tenant.
If there is any theft in the house or any accidental damages in your property, you have protection with up to RM15,000 for the loss of home content.

 

When will I get the copy for Allianz Insurance policy?

A: 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?


A: You can choose to obtain the insurance using your last month’s rental after successfully renting out your property. If the tenant doesn’t fulfill the tenancy, consider the insurance paid by your tenant.

What it costs: 12th month’s rent + 6%SST + RM10 stamping fee for insurance

 

Note: Insurance coverage will only be provided for landlords who have completed transactions with Speedrent (rental ranging from RM800 – RM5000). 6%SST and a RM10 insurance fee will be included.

 

How much time does the claim take?


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

What we cover Time Taken
Loss of up to 2 months of rental 3-7 working days
Inconvenience benefits or minor property damage up to RM1,000 3-7 working days
Accidental damage or theft (up to RM15,000) 21-30 working days

You get2 weeks after the end date of tenancy agreement to claim any of the above.

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.

 

How does claiming work?

>A: For claims, you require a police report and the relevant supporting documents. The supporting documents are as listed below.

  • Inconvenience benefits: outstanding bills (e.g: TNB or Water Bills)
  • Cleaning charges:receipt/invoice and pictures of dirty premise need to be provided.
  • Minor damages:invoices/receipts/quotation for fixes along with pictures from different angle of the damages.
  • Theft and damage to household content (common area and room):invoices/receipts/quotation with pictures of damages/police report (theft).

Essentially, every claim made needs to be provided with supporting documents that proves each claim. Having a lot of pictures showing the damage is good as Allianz Insurance will analyse based on the picture given.
If the tenant runs away or moves out without giving any notice, you need to make a police report and submit it to finance@speedrent.com. Contact us at +60187777650 for further assistance on claims.

 


Rental


How do I receive my rental income?

A: Your tenant will pay us the rent and we will transfer it to you within 3 working days.

 


Payment


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

A: Our service is completely free-to-use. Because of our partnership with Allianz General Insurance, you can choose to get the Insurance from us using your last month’s rent. The insurance secures your property up to RM26,000.

 

In the case of default payment, when will Speedrent pay me?

A: Within 2 weeks after the tenant still hasn’t paid the rental on the agreed date (specified in the tenancy agreement) and has left the premise, you must file a police report of this incident. We will process the claim procedure on your behalf.

Speedrent will process the claim procedure on behalf of the landlord. After submission of the report, it will take 03 to 07 working days to get the claimed amount from Allianz Insurance.

 

Will I be notified in case of non-payment?

A: Yes. We will always keep you notified in case of any delay in the payment via SMS, WhatsApp and phone calls.
Also, you can check the rental status using the app.
Also, you can 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.

You can always email finance@speedrent.com for any further rental issues.

 

Do I have to pay SST?

A: No, you do not have to pay SST.

 


Tenancy agreement


How do I sign the tenancy agreement?

A: First, go to https://speedsign.speedrent.com/ to sign the tenancy agreement.

OR

A: Go to the mobile app and click on the Speedsign button to sign the tenancy agreement.

What do I do after a viewing appointment?

A: Website:
First, go to https://speedsign.speedrent.com/. Fill in all the details and send the agreement to tenant. Then, your tenant will fill in the information and sign the contract before sending it over to you. This is where you’ll need to sign the contract.

After this, your tenant will receive the email in regards to payment. Your tenant needs to click on the link to make the payment.

Android app:
Click on the top left horizontal lines. Then, click on “Speedsign” and proceed with the process.

iOS App:
Click on “More” at the bottom of the screen. Then, click on “Speedsign” and proceed with the process.

If you are facing any further issues, contact our support team via the app or send an email to hello@speedrent.com.

 

Is there a tenancy agreement? Customisable? Who pays for it?

A: We have a tenancy agreement template prepared exclusively for you. You can add supplementary clauses (e.g: No Smoking, No Alcohol) but it should not change the main agreement. The tenancy agreement fee is RM399 for one year which is paid by the tenant. The fee is inclusive of stamp duty and stamping service.

 

What if my tenant wants to terminate the tenancy agreement early?

A: If your tenant for any reason wants to terminate the tenancy agreement early, he/she must comply with the following terms:

– Give us(Speedrent) and the landlord 2 months’ notice before the termination date.

– Should he/she need to leave immediately, he/she must pay two months rental as a penalty.

– Arrange handover of keys upon moving out.

 

Is a digital tenancy agreement legal in Malaysia?

A: A digitally signed tenancy agreement legal and 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.

 


Post Your Property NOW

 


Room Rental


Basics


How can I rent my room out? / How do I post a listing of the room available? / Is the posting process similar to posting a property?

A: Go to our website at https://speedrent.com/ and click on “Post a Property” on the top right. Choose “Room” to start the posting process.

If you’re on our App, click on the top left horizontal lines to go to “My Listings and Favourites”. Then, click the “+” button to create your listing. Choose “Room” to start the posting process.

If you don’t have our App yet, download it on Google Play or iOS store.

 

Do I have to pay for posting a room?/Is this service free?/Is there any fee?

A: No. This service is completely free to use and there are no hidden charges.

 

How long is a tenancy agreement?

A: 6-12 months.

 

Is there a tenancy agreement? / How do I create a tenancy agreement?

A: Yes, there is. You can go to Speedsign to create the agreement.

 

Who pays for the tenancy agreement?

A: The tenant pays for the tenancy agreement which costs RM149 + 6%SST.

 

How does Speedrent protect me? / How am I secured?

A: We screen your potential tenant’s credit history and also do a background check. On top of that, after you successfully lease with us, you’ll be given the option to purchase insurance with Allianz General Insurance which secures you up to RM3700.

 

How do I close a deal?

A:

  1. When you’ve chatted with the tenant and are done with the viewing appointment, create a tenancy agreement on Speedsign, our online tenancy agreement service.
  2. Send it to the tenant to sign.
  3. When both of you have signed and the tenant has paid, the deal is complete.
  4. Arrange for the handover of keys.

 

Insurance


The insurance covers all risk on household goods (excluding personal effects and in aggregate) up to RM500, loss of rental up to 2 months, fee for demand letters and cleaning damages or minor repairs up to RM200.

1. Household Goods/Content– up to RM500.

2. Loss of rental – up to 2 months

3. Cleaning or minor damages – up to RM200

4. Demand letter fee – up to 2 demand letters

 

What does the insurance cover?

A: The insurance covers all risk on household goods (excluding personal effects and in aggregate) up to RM500, loss of rental up to 2 months, fee for demand letters and cleaning damages or minor repairs up to RM200. In summary, it covers up to RM3.7k with the following:

1. Household Goods/Content– up to RM500.

2. Loss of rental – up to 2 months

3. Cleaning or minor damages – up to RM200

4. Demand letter fee – up to 2 demand letters

 

**After you successfully lease with us, you’ll be given the option to purchase insurance with Allianz General Insurance which secures you up to RM3700.

 

How do I get the insurance?/Is the insurance provided free of charge?

A: After successfully leasing with us, you can choose to buy the insurance.  

The total cost is: 12th month’s rental + 6%SST + RM10 stamping fee.

 

Claims


What is the claiming process for room rental?

A: First, file a police report and get relevant supporting documents. The supporting documents needed are the following:  

  • Cleaning charges:receipt/invoice and pictures of dirty premise need to be provided.
  • Minor damages:invoices/receipts/quotation for fixes along with pictures from different angle of the damages.
  • Theft of/damage to household content (common area and room):invoices/receipts/quotation with pictures of damages/police report (theft).

Essentially, every claim made needs to be provided with supporting documents that proves each claim. Having a lot of pictures showing the damage is good as Allianz Insurance will analyse based on the picture given.

If the tenant runs away or moves out without giving any notice, you need to make a police report and submit it to finance@speedrent.com. Contact us at +60187777650 for further assistance on claims.

 

What if my tenant terminates the tenancy early?

A: Your tenant should give you 2 months’ notice, pay 2 months’ rental as penalty and arrange the handover of keys.

Also, inform us immediately and we will assist you. In the case that your tenant runs away or moves out/terminate the tenancy without giving any notice, you need to make a police report and submit it to finance@speedrent.com immediately. We will not entertain claims after 2 weeks following the incident.

Contact us at +60187777650 for further assistance on claims.

 

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?

A: Yes, you should add utility and internet charges to your rental amount. Utilities and internet charges should be included.

 

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

A: Yes, there is. You should estimate the cost properly. If the total amount is set too low, you will lose out on money. Be careful when you combine your utility bills and rental!

 

What should be included with my rental?

A: 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?

A: 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 Insurance up to RM200.