3 Things About Your New Tenancy You Can Get Cheated On
It is no secret. The “Generation rent” phenomenon is all too true in these times of instability. Financial security is on its last legs, and many of today’s working class are subject to surviving on pay check to pay check. Property ownership continues to be a goal that’s just out of reach. Renting is the solution to issues of temporality, proximity, and more in addition to aiding those with financial inadequacy.
But a roof over one’s head is a necessity, not a luxury, and knowing your way through a tenancy agreement is vital.
Here are some things in a rent process that is worth some effort getting looked into!
1. Legal Walk-through.
Renting may be common practice in Malaysia, especially in high commercial areas, but did you know that specific rental stipulation laws are technically non-existent? Apart from a few outdated and generalized provisional acts for tenancy disputes, conditions in rental agreements are mostly dictated by landlords.
Revise your tenancy agreement with a professional or experienced consultant prior to signing anything! This is to ensure protection and clarity is listed in black and white, from security deposit charges, conditionals of habitation, insurance, and eviction terms.
The monthly amount settled for rent may be a great deal when location, area, and amenities come into consideration, but one more inspection never hurts. Get a clear understanding of maintenance options available in the area, and note the condition of the space.
Do all the switches work? Are the little corners of the cabinets and drawers clean? Can the windows and doors open and shut properly? Are there any spots in the bathroom prone to leaks and mold? Does the stove heat properly?
Anything the landlord overlooked or ignored can become the tenant’s problem, and add additional, unwarranted charges to the total monthly.
Agreeing to rent is more than just a financial transaction. As a tenant, you will be subject to certain responsibilities on your end. Apart from the obvious—keep the space clean, noise reasonable, rent in on time—it is also important to know what your landlord expects from you.
This might have already been laid out in the tenancy agreement, but additional verbal walkthoughs can always cover more ground. Know your obligations when it comes to repairing something of the house. Understand that the house is to be used as a house, not for any other operation, and especially not for anything illegal. Sometimes a landlord might see it fit to just enter and leave the home as they technically own it, but boundaries must be set, and privacy must be honoured.
Double check when your deposit is on grounds of receiving back, and other payments that might be due, such as detailed in this list.
Do all of these things and other issues seem too much at once for you? Then try co-living! At Hom, we take care of all these headaches, leaving you with the simple process of moving in and getting comfy. Combined with a member-based community, strategic location, urban and tech-driven full furnishing, getting a taste of independence even in this era never sounded better.
Even better, our three-month, six-month, and longer tenancy flexibility offers you a bonus on leasing commitments. Stay just to get a taste of modern living, or make us your housing option in Malaysia’s biggest business hubs! Find out if co-living is for you here!