Whether you are a landlord or a renter, there is a lot of information out there that you might here that will make you do a double-take. Understanding how the whole landlord, tenant system works will get you in a doozy sometimes but that doesn’t mean that you have to believe everything you here.
This is where we come in to help you debunk some of these myths about the renting industry as a whole. Are you ready to debunk some property and renting myths? Let’s do it!
Myth 1: Landlords Are Responsible for All Repairs and Replacements of Issues
In Malaysia, landlords are responsible for repairs and replacements of things in the house up to a certain time. One thing you should also look at in the lease is that they will be responsible for certain things for 3-6 months and after that, it is considered normal wear and tear. Landlords are supposed to ensure that the house is in a livable and comfortable place.
But always check with your agent what is included in this clause because things like airconditioning maintenance are something that usually isn’t covered. So the myth that the landlord is responsible for all repairs and replacements of things in the house is definitely a myth. Always read the contract!
Myth 2: Rental Prices and Terms of The Contract Are Not Negotiable
Until both landlord and tenant sign the contract, everything is negotiable. Most of the time rental prices can be negotiated. Sometimes, the rental can be reduced if you do not have a car and you would not require a parking space.
Always check the terms first and see if it is something that you want to invest in. This applies to both the landlord and the tenant. As a landlord, you need to trust that the tenant is someone that you can trust to take care of your home. And as a tenant, you need to make sure that the contract protects you when needed and that the pricing and requirements is legal and is in your range of what you want to spend and commit to.
Myth 3: You Are Stuck With The Contract Until It Ends
All contracts are legally required to have an end date and grounds for termination. This is to ensure that everyone gets the chance to get out of a contract if they need to. This clause in the contract is put in there to protect both parties, the landlord and the tenant.
Most of the time in Malaysia you can break the contract and get out of the lease as a tenant but you will need to forfeit your deposit. And as a landlord, if you want to get out of the lease, you will either need to give the tenant time to find a new house and pass them the full deposit as soon as possible.
These are the 3 biggest myths we have heard from multiple people that surround the renting industry. Do you have any myths that you want debunked? Or have you been part of a myth that came true?
We would love to hear your stories.
Written by: Tashya Viknesh