Q: What is Speedrent?
A: Speedrent is a house rental platform that you can use to contact directly with the landlord. Speedrent makes use of a no deposit policy, this means that you do not pay the landlord any deposit to move into the house
Q: What to do if I found a property to rent on Speedrent?
A: Congratulations if you found a place that suits you! Just sign in (if you haven’t already) and click on the chat button, once you have submitted the chat request to the landlord, the landlord will be notified and can accept your invitation to chat.
Q: What can I do when the landlord is not reacting?
A: When you have a landlord that is not cooperating, contact the customer support team to help you make a deal. Give them a call at 0187777650 or to get an immediate response, drop a message to Speedrent support team on the app.
Q: What do I do when I want to rent the house after viewing?
A: You can submit a chat request to the landlord (available when you view the house in our app or on our website) OR you can contact Speedrent Customer Support Team in app/call 0187777650 / email email@example.com to assist you with contacting the landlord.
Q: Is the Speedrent service free?
A: The Speedrent service is free up until the point of paying the first and last month’s rental and signing the tenancy agreement. So, signing up, downloading the app and searching for a house is entirely free.
Q: Who do I pay the rental to?
A: Speedrent will invoice you every month and you will pay directly to Speedrent, we will then transfer it to the Landlord.
Q: How do I pay the rent?
A: The payment can be done through:
*3 days before due date, payment link will be sent to the email.
*Am I only eligible for No Deposit if I have a credit card? No, only eligible when they have passed the RAMCI, CTOS or CCRIS check.
Q: How much do I have to pay for No Deposit?
A: There is no fee to pay for No Deposit. Free of charge, just be a good tenant who pays the rental and utility bills on time. Keep the property and content in good condition.
Q: How much total do I have to pay for the first month?
A: The total you have to pay for the first month is 2 months rental (first and last month) + RM 399 for the tenancy agreement (stamping included).
Q: Do I pay for the month itself or before moving in?
A: You will need to pay in full amount before the key handover and moving in. For example, if you are renting a house for RM1000 a month, before you move in, you need to prepay:
i. 1st and 12th-month rental: RM2000 (2 months)
ii. Tenancy agreement: RM399 (inclusive of stamp duty)
Thereafter month 2 to month 11: RM1000/mo.
Q: Will you notify me when my credit card is rejected?
A: Yes, we will notify you within 24 hours, we will attempt to charge again within 3 days.
Q: How do I sign the tenancy agreement?
A: The tenancy agreement will be signed on the app under the section Speedsign
Q: With No deposit, does that mean I can leave the property anytime?
A: No, as with any tenancy agreement, you need to comply with all the items stated in the agreement. You can provide notice period to leave the property so long it meets all the considerations set in the agreement. Otherwise, you are liable for any cost incurred by violating the agreement.
Q: How much do I have to pay for tenancy agreement?
A: The Tenancy agreement will cost RM 399, which includes the digital tenancy agreement prepared by Speedrent and the stamp duty by Lembah Hasil Dalam Negeri (LHDN). The tenancy agreement is paid fully by the tenant.
Q: Is a digital tenancy agreement legal in Malaysia?
A: A digitally signed tenancy agreement is 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.
Q: What do the CCRIS and CTOS checks mean?
A: Speedrent has to do these two checks before you can start renting the house. The CCRIS checks your loan and payment history for the past twelve months’ and CTOS checks if you have enough credibility to pay the rent. This is done by checking your credit history for the past 24 months.
Q: What does the Background check entail?
A: Speedrent will check your working place and/or your education institute to ensure you are able to pay the monthly rental.
Q: What if I want to terminate my tenancy agreement early?
A: If you for any reason want to terminate the tenancy agreement early. Then you must comply with the following terms:
Please note that the 12th-month rental you paid when moving in will NOT be refunded.
Q: What happens when the tenancy agreement ends?
A: There are two possible actions for when the contract ends:
When you move out you must take care of the following: