5 Factors affecting Rent Costs in Malaysia

When looking for houses to rent, the rent costs have always been a significant concern for new renters. It gets really nerve-wracking if you’re just a first-timer or someone who has just moved to a new city. You would wonder about the average rental price in a city, whether the rent for an apartment or studio is really different from a landed house, how much deposit to fork out and so much more. Such questions can be tiring, as long as you haven’t solved the puzzle that is to find a place to rent that suits you.

Distance from workplace

How far is your stay from the workplace is obviously very important, as it is going to give a lot of impact on your rental cost. The rule of thumb is fairly easy – the further your accommodation from the workplace, the cheaper the rent would be, even more so if your workplace or place of business is situated in the city center. After all, real estate tends to get even more expensive around the city center, sometimes ranging around RM2,000 to RM3,000 for a premium area, such as Kuala Lumpur City Center. Consequently, should you choose a location that’s quite a distance from the workplace, this could mean an increase in your transportation costs and even travel time.

Distance from amenities

Distance from amenities too is just as crucial in affecting the rent costs. The more complete your surrounding is, the higher the rent costs would be. This is because things get more convenient when there are more amenities nearby. For example, a place that is nearby the highway, train station, bus stand or a mall would make access to transport and shopping much easier than it usually does. For renters with families, access to school and daycare is quite significant too. Depending on the combination of amenities that are available, the accommodation can turn out to be very attractive and can drive the demand for the property.

Type of accommodation

While this may seem trivial, the type of accommodation too can give weight to the rental prices. Given that both accommodations are in the same area, landed house can incur a lot more rent costs than an apartment would be. At times, a condominium or penthouse with extensive features can be even more expensive than a landed house too. Then there is the size factor – the bigger the area, the more expensive, the higher the rent would go up.

Facilities

Facilities are yet another factor that affects the rent prices. Some places do offer security, which increases the rent costs in order to afford it. Then there are places that are limited in parking, therefore parking is made a commodity instead of a necessity. You may have to buy additional parking slots if you want to keep more than one car. In addition to that, places that offer additional features such as gym, swimming pool or grocery store will almost always cost more.

Furnishing

Last but not least is furnishing. Do you intend to bring in your own furniture and prefer a bare place? That could make your rent cost goes down, but you will need to add on your furniture slowly, one at a time, depending on your budget. Some landlords may take their own liberty to add furnishing, probably half furnishing or full furnishing, which also depends on their preference and budget. This may make things more convenient for you, but note that the costs are driven up as the landlord is the one who comes up with the furnishing in the first place and needs to get a return on that as well.

And now over to you.

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