Selangor is not only known for its breathtaking landscape but is also known as one of the richest states in Malaysia. It is a commercial hub with state-of-art infrastructure like excellent roads, highways, hospitals, office complexes, malls, etc. There are many renowned educational institutions in this area for higher studies. Students from faraway places come to pursue their education. Also, there are many opportunities for people to make a livelihood in this state. Jobs are plenty and are quite easy to open up a new business. Still, tourism is one of the major revenue earners for the state and the people visitant the area is increasing each year.
Rentals in Selangor
Through an estate agent, you can find any types of rental houses in Selangor. If you prefer condos for rent in Selangor, there are many options available for you in different prime localities. There are houses available near the market places, office complexes, etc or else if you prefer houses near a quiet neighborhood, there are options too in those localities. The popular places in Selangor to look for accommodation are Bukhit Puchong, Cyberjaya, Shah Alam, etc.
The rental controls have been abolished in Malaysia and people who are looking for rentals in the country can freely negotiate the amount to be paid as rent. The property agents will be having a better understanding of the rates prevailing in different locations, hence seeking the help of an agent is advisable. Also, they will know about the legal formalities to be taken care of. Even though there are no particular laws that govern or regulate the responsibilities of the tenant and the landlord, there are few basic tips one should follow while renting out the property in Malaysia.
Tips to follow
Earnest deposit- After the negotiations are done, the tenant has to make an ‘Earnest deposit’. Usually, the amount to be paid as one deposit is one month’s rent and it serves also as the booking fee. Once the deposit is collected by the landlord, the landlord cannot show the property or rent the property to someone else.
Tenancy agreement- The agreement should be made and signed within 7 days of paying the deposit. Also, the tenant needs to pay a certain amount as Security deposit. Usually, two month’s rent has to be paid as the security deposit and half month’s rent has to be paid as Utility deposit.
Once the agreement gets signed, the agent will get it validated from the Revenue Authority. The stamp duty should be borne by the tenant. Once the tenure mentioned is completed, you have to renew the agreement with the landlord.
Diplomatic course- The tenant should ensure that a diplomatic clause is mentioned in the agreement if he is a foreigner working and living in this area. This clause helps in the period when you are required to leave the place and wants an early termination of the agreement. The agent will assist you in enforcing the clause mentioned in your agreement. Once the clause is activated, the written notice of 2 or 3 months must be handed over to your landlord.