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Property agents play a key role in the building of loyalty and trust between tenants and landlords. Trust and loyalty are the main reasons why a customer would choose to recommend your service to a friend or family member or write a great review of your attitude or service online.

According to a Harvard Business Review, Eighty-four percent of the top performers tested scored very high in achievement orientation.

They are fixated on achieving goals and continuously measure their performance in comparison to their goals. High-performance property agents are also open where they are open to accept and adapt new ideas and execute. Not only that, but high performing sales persons are also highly curious.

So, for what we’re gonna share next, if you’re reading this, it’s for you! Yes, you! 

Property Industry Has Evolved

The industries have evolved from the traditional way of the rental process to now, mostly hybrid, with a combination of manual processes, with a little digitization. Well, the best part is, you are still here and are a part of the change. Kudos to you! 

A significant change we’ve seen nowadays is the change in renters’ behavior. More renters are choosing to save upfront deposits. The change in renters’ behavior could be due to the overall change in the spending options in e-commerce, or the uncertainty of the economy. 

The rise of Rental Deposit Insurance is able to fill up the gap between renters’ demands with landlords’ wishes. Rental Deposit Insurance, is the insurance that is able to replace the 2 months rental deposit and protect the landlord’s tenancy-related risks.

For agents, it is to speed up and secure the rental deal whenever possible.

Here are. 4 solid points for you to move with the property industry, especially in the secondary market by having a rental deposit solution as a companion. 

1. More selection of tenants

With the increase of OPR recently, people are looking at how they can save up their cash flow for other things. Hence, this will open new opportunities in the rental industry. 9,421 new development in 2021 were launched. This year 10,552 new launches, as a renter's perspective, they have more properties to choose from. From the landlord's perspective, there's nothing better than renting out as soon as possible.  As a professional agent, you can lock n close the deal faster way with a zero deposit offer. Why we said that is because people will opt to rent a place instead of buying a property. There are almost plenty of choices or property listing for rent to choose from the property listing. It is definitely a good catch to kickstart!  That is the reason offering rental deposit insurance is a way to attract and speed up the rental process.

2. Building Winning Reputation 

High-performing agents always go the extra mile to provide value-added services to their clients. as the front liner of the property market, you are the information hub for your client. Imagine you share this piece of advancement with your client about a free tool for them to manage their properties and their tenancy-related risks are covered by insurance. This will give a strong impression to your clients. There, a wonderful and trustworthy customer experience is made. Who knows your referral lead will then be growing with your effort. 

3. Strong Lead Conversion

The inherent challenge of prospecting is not knowing how a lead will respond to an often overtly forward inquiry about their interest in a sale. This relatively direct process can sometimes be uncomfortable for salespeople and prospects, but these interactions are simply a reality of the sales cycle. With tenants and landlords that have been onboarded with Rental Deposit Insurance, their tenancy dues, and documents are all in a portal. You can easily track and monitor your client's tenancy details on the system dashboard. With this system also you can revisit your prospect and also minimize the challenge. This is what we call working smart. Wink ;)

4. Competing with competitors 

The market has turned into a battlefield where businesses are doing all it takes to surpass their competitors. From lowering prices to offering freebies, competitors are trying various strategies to attract tenants. Most of the property agents get to hear statements like “The [X competitor] is offering lower rent, with more facilities, more beautiful designs. How can you outshine the rest? With deposit rental solutions, you can. Why? because with rental deposit insurance, tenants only need to upfront a small amount of money compared to a traditional 2+1 rental deposit, this will definitely a solid bullet compare to your competitor.

A deposit rental solution is a solution that can speed up your deal. Tenants get to rent without high upfront, and the landlord's cash flow is now unlocked with their properties rented out.

Final Say

I love the statement - “If you want to grow you have to do something different from the majority of people”. Since industries have evolved you are also able to evolve and move with the times. Keep up with the new technology solutions that are able to support your business. Join us in this movement. Removing the high rental deposits, reducing vacant units, and let’s unlock cash flow. Click the link for new sign-up as our BlueDuck Ambassador www.blueduck.my/registration/agent and start your journey with us!

We are now in the phase of endemic, where new projects and upcoming projects are on the way to launch and in a progressive development by the developer to be ready on time. The economy is slowly rising up and back to what it used to be before the pandemic. surely they will be a new property rental bubble up in the market, and a lot of choices for you to choose from that suits your need.

Here are my Top 5 shopping malls that can bring new excitement and also new business opportunities in our country recently.

1. Datum Mall – mall directly linked to an LRT station

Making the way to a mall in KL can be a hassle when it involves finding a parking spot on the weekends. But there are malls such as Datum Mall, Datum Mall, Jelatek is located new LRT Jelatek Ampang. A strategic location for those who are traveling by public transport and also live in an area. which will be directly linked to Jelatek LRT Station via a 35-meter bridge so visitors won't have to struggle if they are driven by. The mall will be linked to a 712-residence development called Datum Jelatek, which features a circular skybridge with views of KL’s skyline that connects all three residential buildings. Datum Mall was set to open in 2020, but this has been pushed back due to the pandemic. No new opening date has been announced, but most of the building has now been completed, including the apartments. It is now scheduled for completion in 2024. 

2. D’immersione Avenue – new street mall in Mont Kiara

Mont Kiara residents are in luck. A new street mall – D’immersione Avenue – will open in 2023 in the bustling township, and to be another shopping and food hub for KL living near the upcoming mall to frequent. The mall is located just within 3km from Publika Shopping Gallery and in the luxury location of 1 Mont Kiara. It will host retailers covering boutiques, home and living stores, gyms, wellness centers, and eateries, for the convenience of residents of an integrated apartment complex and office building on the same grounds as the mall.

3. 8 Conlay – a futuristic mall with a glass dome and rooftop space

You might have heard of 8 Conlay. The two residential buildings attached to the mall went viral in 2019 when Malaysians expressed concern over its ‘slanting’ facade. But this is all part of the buildings’ unique spiral design to reflect the shape of the number eight. The mall will take on some pretty futuristic elements in its architecture too. Acting as a podium for three residential buildings managed by Kempinski Hotels, as well as a hotel and serviced suites, it will feature a futuristic glass-dome window at its entrance that lets shoppers look out onto the busy streets of KL while they shop. There’s also a rooftop deck here that will host events, bazaars, performances, and more. Completion of the mall was scheduled for June 2020, and it subsequently opened to the public in the second half of 2021. But due to the pandemic, the mall’s opening has been postponed, with its completion pushed to 2024.

4. Met Galleria – upcoming food hub in Mont Kiara

Met Galleria is another new retail center in Mont Kiara that’s hailed as a new bustling food hub for residents in the area. This includes residents from MET 1 Residences – an apartment building under the same developer as the mall – as well as buildings in its vicinity such as Malaysia International Trade and Exhibition Centre (MITEC) and Malaysia External Trade Development Corporation (MATRADE). It’s a two-storey upmarket mall spanning 80,000 sq ft. About 40% of its space will comprise eateries, so Mont Kiara residents can have more restaurant choices for meals when it opens. 20% of the mall’s space will be dedicated to retail concept stores, with spaces reserved for service sectors, anchor tenants, showrooms, and other shops including kiosks. Met Galleria was scheduled to open in 2021. Currently, the building is still under construction after delays due to the pandemic. Target to be ready in 2024.

5 . 118 Mall – modern shopping center linked to Merdeka 118

Another new mall in KL situated a little closer to the City Centre is 118 Mall – a modern seven-storey shopping hub attached to Merdeka PNB 118, which is slated to be the second tallest building in the world once its construction is completed. Construction for the mall will be completed in June 2022, with tenants expected to occupy the building in the second half of the new year. This may seem like a long way to go, but the mall is worth keeping an eye on. It will house over 200 stores, and attractions such as an Eat Street with alfresco dining, a cinema complex, and a Malaysian Artisan District that will highlight local artisanal products and cuisine. As the mall is connected to Merdeka PNB 118, shoppers can decide to catch views of KL’s impeccable skyline at an Observation Deck once they’re done shopping too. The viewing area is set to take up four floors in the towering Merdeka PNB 118 skyscraper to offer visitors different angles of KL’s skyline from dusk to dawn. 

Summary
For those that have an interest in opening up a retail shop in the new upcoming mall that we have mentioned earlier. Check out BlueDuck Smart Commercial, the newest evolutionary standard in reducing vacant commercial units with BlueDuck Smart Commercial.  First in Malaysia, first in Southeast Asia. It helps you skip the traditional advance deposit that gonna cost you a big chunk of capital to move in. BlueDuck Smart Commercial will ease both tenant and landlord. For tenants, the most stand up point if you have this solution you gonna save a lot of cash flow, while for landlords, this will help your property to rent out faster. The great thing about this is all of the operations will be under BlueDuck web portal. Skip the rental deposit. Click on this link to find out more :)

Many people think that building and developing a startup is an easy thing as well as working at a start-up, but many do not meet their expectations.

On the startup founder's pov, he hopes that his startup has a bright future and continues to grow.

1. Solving the problem they are passionate

Many perceptions say that no matter how good an idea or product a startup has if it is unable to solve the problem then it becomes meaningless.

Paul Graham, a big investor in big companies like Dropbox, Airbnb, Reddit, etc., also said that "Usually a company that can help many people always start with making a product that solves the problem of the founder itself".

It happened with Google when Larry Page and Sergey Brin created Google because they had difficulty finding information directly, so they created Google with their own expertise as well. And hey, who doesn’t know about Google today?

From here, we can see that all founders have that burning desire to solve an ongoing issue with the solution they provide. Where their passions lead to motivation and excitement to stick it out when it gets tough. 

2. Building a future

BlueDuck is a job creator in the fintech sector and we're proud that this is giving many individuals to explore the fintech scene and an opportunity to develop their personal growth.

For this reason, it is necessary for businesses to grow. By growing, in a way that creates a lot of job opportunities. Empowering the market, the sector, the individuals, and the national economy.

An employer hires people because the person has unique value skills and proposition, for example, Their creativity in designing visuals which fixes the company problem in user interface and there are no other effective alternatives or affordable solutions to design their visuals.

For example, a company hires a marketer because they face a business problem: a lack of customers.

Also, the famous saying goes - "Individually, we are one drop. Together, we are an ocean." -- Ryunosuke Satoro

Another example, is Apple started their company 45 years ago with two founders namely Steve Jobs and Steve Wozniak started in a garage. Then their friend Bill Fernandez was the first Apple employee along with the development of Apple at this time they already have thousands of employees almost all over the world, with many employees in the world Apple was able to make a change to the technology scene for decades also it is impact for jobless and economic growth.

"The best way to predict the future is to create it"

3. Encouraging you to explore more

In creating a startup innovation you need to explore anything you have never done before, of course, there will be many obstacles that must be faced, one of which is experiencing failure.

With failure, the founder can learn many things which can be used to determine the next strategy. The level of success of a startup also cannot be measured with certainty. Well, it is about each small step that brings the solution closer to the goal.

Therefore, most people invest in their own growth and self-development. And failing, and keep failing is the way to succeed. 

In conclusion, starting a new startup is different from other businesses because most startups that exist today really solve the problems that exist for the founders themselves and help each other in many things.

If you want to succeed, focus on changing yourself, not others.

Written by: Sardish

BlueDuck Operation Assistant

Renting, otherwise termed leasing or letting, is an agreement where an installment or monthly payment in terms of cash is made for the entire duration of using a property possessed by another individual or agency.

Reasons of Renting

The most important reason when it comes for a tenant to rent a property or just a part of the property ( for ex : Room ) is to minimize the monetary usage due to depreciation or purchasing costs, particularly for land or a property which may only be required  for a short period of time. (eg: working & studying).

Apart from that,  renting can possibly generate a constant stream of income for the owners of the properties. As the saying goes “The more the beat (the occasions the property is rented) the higher the pay”. Ultimately, the rental income surpasses the property purchasing value and the payments of rental then would turn into a profit for the landlord. 

History of Zero Deposit

Co-founded by Jon Notley, a former Commercial director at Zoopla,Gavin Wiseman and Ben Austin, Zero Deposit is the trading name of Global Property Ventures Limited and is partnered with insurance industry leader Munich Re.

The Zero Deposit is a choice rather than the traditional rental payment, in it is compulsory for the tenant to pay an upfront of two months rental even more in some cases. Rather than paying the deposit with their hard earned cash, tenants pay an amount equivalent to 10%-30% of the customary deposits to move into their new home just by purchasing an appropriate insurance package. The property manager / Landlord will be protected against rental loss up to the worth of about two months of rental.

Impact of Zero Deposits in Rental Market

Reduced dilemma for Landlords

Rental collections can make waves in the traditional rental system. Landlords would have to wait for hours begging their tenants for the rental payments. As some tenants are really adamant on not paying the rental on time or on the agreed amount, this can cause a real headache for landlords who sometimes depend on the rental for their livelihood. 

Zero deposit schemes have proven to remove the conflict that may arise between the landlords and tenants as the scheme providers are a liaison for collecting the rental from the tenants and passing over the rental to the landlord. The tenants who signed up for the Zero Deposit scheme would have to sign up for the Direct Debit rental deduction which may ease the workload as the deduction will happen automatically at a preset time and amount. This would be an advantage for the Landlords as they will be able to collect the rentalon time with ease and wouldn’t even think twice on renting out any additional properties they have through Zero Deposit schemes which would increase the rental market economy.

Increased rental return for Landlords

Figure 1: Rental price differences between Traditional Deposit and Zero Deposit. 

Figure 1 shows the result of a research on rental prices differences conducted by BlueDuck, a provider of Zero Deposit scheme in Malaysia. As there is no deposit payment involved during a rental period, Landlords and agents are able to increase the rental prices of their properties. This increase in rental prices would not be a burden on the tenants as the tenants could enjoy the rental without forking out their hard earned cash on deposit payments (which is done in traditional deposits). This could be a helping hand in improving the revenue of the landlords in the rental community.

More CashFlow into Economy

In the traditional rental, where the landlord collects a deposit payment usually made up of a couple month’s rental. In the case of renting a unit with a high rental price would cause the tenant to have an added burden as they would have to cough up a great deal of money in order to pay the deposit for the property. This scenario can be completely avoided by both parties as the tenant could secure the desired property with just a mere insurance premium payment. Meanwhile, the landlord will have the advantage of renting out his/her property faster and enjoy the monthly payment rental received. With the implementation of zero deposit schemes, the cashflow into a nation’s economy can be increased as there will be vacancies in the Zero Deposit agency, rental fee deductions and the purchase of insurance for their property thus increasing the cash flow in this industry. This would not only increase an individual’s net worth but also to soar our nation's economy.

Improved confidence for Landlords

In the rental industry, not all rental ends with both sides being a happy camper. Some rental property landlords could not have a good sleep at night thinking about the circumstances of the furnishings in their rented property. With the Zero Deposit insurance, Landlords could have a better sleep at night as the furnishings are protected by insurance. In the case of a tenant who had a rough day at work and decides to vandalize the furnishings / appliances in the rented property, the landlord would be able to claim the price of the damaged items (proven that it has been done with a malicious intention). Besides that, Landlords would also be able to get a claim in the case of a tenant run away leaving behind a series of unpaid bills. With the Zero Deposit insurance coverage, the landlord would be able to sleep peacefully which brings to the saying happy sleep = happy life.

In Conclusion

Zero Deposit schemes (https://www.blueduck.my/)  has a lot of positive impact on an individual’s and our nation’s economy. Due to a worldwide Covid outbreak, added with the burden of  layoffs, more and more property owners are making a livelihood based on their rental incomes and tenants would be able to enjoy a rent without deposit. Zero deposit schemes are able to boost the rental market prices, bringing in more revenue to Landlords, Property Developers and Shareholders thus carving a path to make Malaysia greater.

Rent your ideal property faster than before! Landlords, get protected! Tenant, no need forks up hefty deposit!
A “BlueWave” of Zero Deposit is entering the residential and commercial renting market and promising awesome advantages to landlords, agents and tenants.
In the world of renting, traditional deposit and zero deposit can seem confusing. We are here to dispel some common illusions about zero deposit.

Illusion 1: Zero Deposit is Unpopular

Reality: The zero deposit market is booming! Our BlueDuck Zero Deposit mean tenant do not have to pay a hefty of their savings upfront for their rental deposit. Meanwhile, landlords get enhanced protection and agents get a great alternative solution to help them stand out from competitors. We have over 2,000 property agents trained in BlueDuck product and system and that number’s growing all the time!

 Illusion 2: Damage is more likely to be created by tenant if no deposit collected

Reality: Some people worry about zero deposit tenants will leave the property in bad condition because they think the zero deposit provider will pay the bill. In reality, tenants are just as liable for damage and unpaid rent as they would be with a traditional deposit. We make sure our partner agent is well trained and brief tenant their responsibility when they buy their BlueDuck Zero Deposit package. In fact, the landlords we work with have greater protection because we give up to 6X higher coverage compare to traditional deposit.

 Illusion 3: I will enter into a mis-selling scandal if I sign up for Zero Deposit 

Reality: If you are worried that zero deposit could lead to financial claims further down the line, you do not need to be. Bear in mind with all business decisions: do your research! Make sure the providers have a good reputation. At BlueDuck Zero Deposit, we are collaborating with Liberty Insurance Malaysia, a license insurance provider regulated by the BNM, which means we are legally obliged to protect the rights of our landlords and treating tenant fairly as in verifying and qualifying based on their credit history or documents submitted. This authorisation gives our trained agents being transparency when explain to landlord.

In conclusion, Zero Deposit helps tenant to save their cash while still holding tenant responsible. Apart from that, as we have ongoing training for agents making sure that their zero deposit knowledge are updated to reduce on mis-selling. Because collaborating with an insurer does not guarantee that mis-selling will not happen. However, maintaining relationships with agents, being attentive to their problems, and committing to providing the necessary training to equip them with knowledge are all important. We hope this helps make clear about zero deposit easier. Still confused?

Book a slot via calendly.com/blueduck/zerodeposit for Zero Deposit training or call 016-6117154, we'd love to help clear up your queries!

With the third wave of pandemic hitting in Malaysia, property market is now clouded with uncertainty with the job insecurity and business insecurity in the market. According to iProperty, there are shift of rental market demand from Selangor to suburb areas and rental asking rate are below RM2,500 per month. What is the future outlook for rental market? 

BD Zero Deposit 

BD Zero Deposit was first launched in July 2020. Just two months later, the first ever Room Rental Zero Deposit in exclusive collaboration with the largest sublet operator association – Malaysia Associationof Sublet Operator (MAS0). One protecting units rental while the other protects on room rental.

BD Zero Deposit was designed by bundling together with BD Pay – Direct Debit rental collection system to mitigate the risk. With this, the claim process can be more efficient with BD Pay record (proof of failed transaction), police report, tenancy agreement, photos, bill payment records for claimant to pay out in 14 working days. 

This insurance is underwritten by Liberty Insurance Bhd which has been around in Malaysia with 42 years of experience. 

How does BD Zero Deposit Benefits?

“Was it for tenants?”

“Was it for landlords?”

“Was it for agents?”

Well, we believe it benefited all parties. For tenants, paying hefty deposits upfront is no longer needed to get yourself a new home. Do not worry about transferring and sending payment receipt to landlord manually every month. Let BD Pay to debit your account every month like how you pay for your gym membership.

For landlords, get better protection. We have different insurance packages from RM10K, RM30K and RM50K coverage. For example, if your property is rented at RM5K per month, get yourself protected with up to

• 2 months unpaid rental + 0.5 month unpaid utility when tenant runaway, malicious damage of house contents total up to RM30K
• Householder insurance RM30K
• Houseowner insurance RM30K

With the fast payout from insurance company, need not to worry about cash flow issues but move on with renovation and get ready for your next tenant. It also reduces your headache of reminding tenant of rental payment and checking if the payment is in. Let the system do the work.

Everybody wants to stand out in the market. As real estate negotiator, you can make your properties more appealing when you offer the latest product in the market to your clients, having the competitive edge.  

What’s Next

Zero Deposit is the new norm in the market. Let insurance company to protect you against potential losses by paying a fraction for your premium. If you would like to know about the application process, premium, or claim process, do email us at support@blueduck.my and remember to hit like & follow button in our Facebook Page.

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