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Are you a student? Or are you working? 

Are you considering renting your first apartment or house but not sure what to expect from the rental process? Don't worrylah, we've got you covered. In this blog post, we'll go over what the rental process is like for first-time renters, and give you some tips to make it a smooth and stress-free experience.

There are few things to consider before you rent a property:

1. Start by Setting a Budget

Before you start searching for apartments or houses, you need to decide how much money you can spend. This will help you avoid looking at places that you can't afford and save you time. Remember to think about all the costs of renting, such as rent, utilities, and any extra fees or deposits you might have to pay.

2. Search for Rental Listings

Now that you've got a budget, it's time to start searching for your dream rental! There are lots of online platforms you can use like Propertyguru, iProperty, Mudah.my or Edgeprop! You can also reach out to a friendly real estate agent who can help you find a place that suits your needs and budget. So, don't be shy! Get searching and don't hesitate to contact us to know more! 

3. Visit Properties and Apply

Once you find a few properties that you're interested in, schedule a visit to see them in person. If you like what you see, you'll need to fill out an application with agents, provide some basic information such as your contact details, occupation, references and earnest deposit (to reserve the unit, as a show of commitment). To get verified when you use BlueDuck, everything will be done online! 

4. Sign the Lease Agreement

Once your verification is complete, you're almost there! The next step is signing a tenancy agreement. Take your time to read it carefully and don't hesitate to ask any questions that come to mind. The lease will include details like the amount of rent you need to pay, when you can move in, and any rules you need to follow while living there. So, it's essential to make sure you fully understand everything before you sign.

5. Move In and Start Enjoying Your New Place!

Once you sign the agreement, you can finally move in and start making your new place feel like home. Don't forget to set up your utilities, and take care of any move-in requirements like security deposits or initial payments. But guess what? If you use BlueDuck, you won't have to worry about any of that because we've got you covered! We take care of the security deposit for you, so you can just sign the agreement and move right in.

These tips will make you a pro at renting your first apartment or house! So, get ready to put them into action and start your exciting new journey. Good luck, and happy house hunting!

But if you’re interested in knowing about BlueDuck, don’t hesitate to reach out to us! 

Get ready to experience a new level of architectural awe in Kuala Lumpur, Malaysia with the upcoming completion of Merdeka 118, the country's latest skyscraper sensation! 

What’s the hype with Merdeka 118?!

Standing tall at a record-breaking height of 644 metres (2,113 feet), this marvel of modern engineering is poised to become the tallest building in the nation and the third-tallest in the entire world. With its mixed-use space encompassing sleek offices, luxurious hotels, and observation decks, Merdeka 118, also known as Menara Warisan Merdeka is sure to redefine the city's skyline as an iconic symbol of progress, ambition, and innovation.

First in South East Asia to have more than 100 floors!

Just like its name, Merdeka 118 has 118 floors. It's the first building in Southeast Asia to have more than 100 floors. The building is so big that it has 400,000 square metres of space for rent, which is as big as 4,300,000 square feet. 100 floors of the building are available to rent, and 80 of them are for offices. The company that built the building, PNB, will use 60 of the office floors.

Warisan Merdeka Mall

The bottom part of the Merdeka 118 is going to be a big shopping mall called Warisan Merdeka Mall. The top part of the building will be a fancy hotel. It's run by Hyatt Group, which is a famous company that makes fancy hotels. The hotel is called Park Hyatt, and it has 17 floors. On those floors, there are 232 rooms people can stay in. 

According to New Strait Times, PNB Merdeka 118 is now ready for lease. However, it's worth noting that the tower is still undergoing development and upgrading its security measures. The development is focused on offering commercial space for office and retail leasing, with plenty of room available, and it also boasts 8,000 parking spaces. Additionally, it offers high-end hotels for visitors.

What Can we look for in Merdeka 118?

Merdeka 118 promises to be a truly unique and exciting destination for visitors to Kuala Lumpur. The development includes a variety of shops and boutiques, ranging from high-end fashion retailers to unique local artisans. There are also numerous restaurants and cafes, offering everything from casual fare to fine dining. Well, whether you're interested in shopping, dining, or simply enjoying the views, this amazing new development offers all of that!

Cheers,

BlueDuck!

After nearly two years of the global pandemic disrupting economic and social activities, 2023 is expected to be a year of economic recovery, although with some challenges. As international borders reopen and the job market improves, along with increased local demand, economic growth is expected to be positive. 

There are many reasons why people are opting to rent in the current situation:

1. Increased Demand for Affordability

Rising property prices in many urban areas are leading to increased demand for more affordable homes in the secondary market. According to the Edge Market, Selangor's average house price increased from RM204,105 in 2000 to RM 534,846 in 1Q2021, with an average annual change of 4.8%. Double-digit growth was seen in 2010-2013. The highest annual change of 23.11% was in 2015, while 2020 saw only a 3.63% increase.  

2. Growth of the Rental Market

More people are opting for rental properties instead of buying, leading to the growth of the rental market in Malaysia. Siva from The Edge Market mentions that the majority of the population cannot afford houses, so they end up renting. And some become renters for life, which means they were not able to save enough to buy a single property,

3. Rise of Online Real Estate Platforms

The use of online real estate platforms such Propertyguru, iProperty, Edgeprop are increasing with additional features like virtual tour, zero deposit solutions making it easier for landlords and tenants to connect and transact in the secondary market.

4. Emergence of Proptech

Proptech companies in Malaysia, such as iProperty and Propertyguru, which employ technology to improve the real estate experience by linking owners and landlords with buyers and tenants, are expanding. It can provide the much-needed speed and precision for developers, banking institutions, and property investors when valuing their precious assets.

5. The Impact of the Sharing Economy

The sharing economy is expected to continue growing, leading to the development of new models for shared ownership of properties which leads to the rise of co-living or subletting. According to a Malaysia Digital economist, The global impact of the sharing economy will be in the range of USD3.1 trillion with a potential growth rate of 31% according to the study where Malaysia has the potential to see a contribution of up to USD 14 billion to its GDP by 2025. 

It is anticipated that the rental market will continue to be a significant aspect of the real estate industry, providing opportunities for both buyers and sellers to connect and engage in transactions. However, ongoing factors such as rising inflation, an increase in the Overnight Policy Rate (OPR), and affordability issues are expected to weigh on market conditions. As a result, it may take some time before consumers become confident in making large property decisions. 

Cheers,

BlueDuck!

Investing in real estate, whether it be a property or land, has historically been a solid choice with its tendency to appreciate in value. Yet, in light of evolving economic landscapes, the Millennial generation may hold a different perspective. 

When it comes to securing a place to call home, what's the favoured option for Millennials - buying or renting? Well, According to MLive millennials prefer renting more than buying. From their blog, 24.7% of millennials who are currently renting in 2022 plan to always rent (and not buy a home). That's much higher than 2018, when 13.3% of renting millennials planned to always rent.

But why?There are a few factors we’ve concluded. 

1. Affordability

Buying a property can be too expensive for some Millennials. This includes the money needed for a down payment, the regular payments for the mortgage and property taxes. Especially for those with student loan debt or other financial responsibilities, it can be too much. Renting may be a more realistic option in these situations.

2. Freedom

Many Millennials choose to rent instead of buying because it gives them more flexibility and freedom to move around. They like to be independent, both financially and in terms of location, and they value experiences more than things. For them, things like travelling, and doing adventurous activities are more important than owning a lot of stuff.

3. Flexibility

Millennials who are in the early stages of their careers or who may need to move frequently for work may be more likely to rent, as it allows them to be more agile and avoid the hassle and expense of selling a home.

4. Different Perspective

Many Millennials don't care as much about owning a home and a car as their parents did. These things used to be seen as important signs of success, but that's changing. A lot of young people today don't think that owning things is as important as older people do.

Well, are you looking to rent a house? Buying a property can be too expensive with a big down payment and other costs, especially if you have student loan debt or other financial responsibilities. Renting is a more affordable option, and it gives you the freedom to move around and have experiences without worrying about owning material possessions.

For tenants, We have a solution for you with our zero deposit program. With BlueDuck, moving into your new rental can be easy, without the burden of a large upfront payment. Enjoy the benefits of renting with BlueDuck and experience the freedom you deserve!

But let us know your thoughts. What do you prefer, rent or owning a house? And why do you choose that?

Contact us or Email to us to know more!

Cheers,

BlueDuck Team.

The distinction between a tenancy agreement and a commercial lease agreement in Malaysia lies in the nature of the property being rented. Tenancy agreements are generally utilised for rental purposes of residential properties, while commercial lease agreements are utilised for rental purposes of commercial properties such as offices or retail stores.

Here are a few other key differences between tenancy agreements and commercial lease agreements in Malaysia:

1. Length of tenancy: The duration of tenancy agreements in Malaysia is commonly set for one year, but it can vary based on the mutual agreement between the landlord and tenant, and may be shorter or longer. On the other hand, the term of commercial lease agreements tends to be longer, ranging from three to five years.

2. Rent: The rent for a residential tenancy is typically determined by the market rate for similar properties in the area. Commercial leases may have a higher rent due to the potential for higher profits from a business.

3. Termination: Well, here in Malaysia, either the landlord or tenant can end a tenancy agreement with a one-month notice. For commercial lease agreements, there may be stricter rules for termination, such as imposing a penalty on the tenant for prematurely breaking the lease.

4. Maintenance and repair: Landlords are generally responsible for maintaining and repairing residential properties in Malaysia. In a commercial lease, the tenant may be responsible for some or all of the maintenance and repair 

Which option is better, you might ask?

It is not possible to determine which is "better" as it depends on the specific needs and circumstances of the individual. For some people, the security and stability of a long-term lease may be preferable, while for others the flexibility of a shorter tenancy may be more appealing. It is important for individuals to carefully consider their needs and priorities before entering into either a tenancy or a lease agreement.

Ready to simplify your move-in experience? Well BlueDuck is here and ready to serve!

Say goodbye to cash rental deposits with the BlueDuck Zero Deposit Program.

Imagine an effortless transition into your new home. Discover all the benefits and start your new chapter today: www.blueduck.my 

Cheers,

BlueDuck Team!

Are housing expenses causing financial strain? You are not alone. Many people in Malaysia struggle to manage the cost of rent each month. Even if you are careful with your budget, rent may be one of your biggest expenses. Luckily, there are ways to lower these costs with a bit of creativity. 

Here are some ways you can get started:

1. Look for apartments in less expensive areas

Rent prices can vary widely depending on the location of the apartment. Consider moving to a less expensive area or a neighbourhood that is up-and-coming, where rents may be lower but still on the rise.

2. Share the cost of rent with roommates

Sharing an apartment or house with roommates can significantly reduce the cost of rent. You can split the cost of rent, utilities, and other expenses, making it more affordable for everyone.

3. Negotiate the rent with your landlord

If you have a good rental history and have been a good tenant, your landlord may be willing to negotiate the rent with you. It never hurts to ask for a lower rent or to negotiate for other perks like a longer lease.

4. Live in a smaller apartment

A smaller apartment will typically be less expensive than a larger one. Consider downsizing your living space in order to save on rent. It will be worth it for long term!

5. Take on a longer lease to negotiate a lower monthly rate 

Landlords may be willing to offer a lower monthly rate in exchange for a longer lease. This can be a good option if you're planning to stay in one place for an extended period of time.