[Tenant's Guide] Terminating Rental Contract Early in Malaysia 2023
Renting a home provides flexibility, but sometimes life takes unexpected turns. Whether it's a sudden job relocation, an urgent need to leave town, financial difficulties, or any personal circumstances, there may come a time when you have no choice but to leave your rented home without fulfilling your rental obligations as stated in the tenancy agreement.
Let's revisit the beginning of your journey with BlueDuck Zero Deposit Program:
You became a verified tenant with a BlueDuck Tenant Profile.
You signed the tenancy agreement with your landlord on Zero Deposit move-in.
You opted for BD Pay, allowing direct debit as part of the terms and conditions.
It's crucial to keep in mind that both parties, the tenant and the landlord, are expected to honor the tenancy agreement and stay throughout the agreed-upon tenancy period. Any early termination is considered a dishonoring of the agreement.
Understanding the terms
Runaway tenant: This refers to a situation where you have to abruptly leave the rented property without fulfilling the terms of your rental agreement. It often involves leaving without giving notice to the landlord.
Rental default: This occurs when you fail to pay the rent throughout the tenancy period and leave the building with outstanding rent. It poses significant challenges for landlords as they rely on timely payments to cover expenses such as the mortgage, maintenance, and other costs.
If you find yourself facing these unpredictable situations, it's important to:
Inform and explain your circumstances to your landlord.
Make an effort to resolve any outstanding issues and settle any dues.
Maintain open communication to minimise misunderstandings and potential legal complications.
If you struggle to figure out how to pay your landlord back, you may contact BlueDuck for assistance. In such cases, your landlord could file a claim for compensation of up to *three months of guarantees to temporarily relieve the financial burden you face.
Know more about claim here if you are landlord.
The compensation claimed will be recorded on the CTOS credit score system until you successfully repay back to BlueDuck.
Tenants who have previously caused compensation claims will not be eligible to sign up for the BlueDuck Zero Deposit Program in the future.
Let's strive to create a positive rental environment based on trust and respect. Holding yourself accountable as a tenant is essential. Being responsible and reliable improves your living experience and significantly impacts your credit score and financial plans.
The BlueDuck Zero Deposit Program is designed to help you by reducing your initial move-in costs compared to traditional methods, allowing you to save up to *85% on move-in fees. However, it's crucial to remember that the program works best when you, as the tenant, fulfill your obligations as outlined in the tenancy agreement.
In short, when tenants honour their agreement, they can fully enjoy the benefits of the BlueDuck Zero Deposit Program, enhancing your overall renting experience.
Learn more now at www.blueduck.my
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