Application Fee Terms & Conditions

The terms and conditions of this Application Fee Agreement govern your use of the services provided by Speedrent Technology Sdn. Bhd. (Company No: 1176587-M). a Malaysian entity, either itself or through its subsidiaries or licensees, via various electronic platforms such as the SPEEDHOME mobile application or any other platforms designated by Us (“Application”).

By using the Application, you are indicating that you have read and understood the terms and conditions herein. If you do not agree with the terms, please do not use this Application. For the avoidance of doubt, this Agreement applies to all users of the Application listing a property or finding a property inclusive of homeowners, landlords, property agents and/or tenants.

What Is The Function of The Application Fee?

Application Fee is a non-refundable payment that confirms your serious intent to rent the specific property advertised on the SPEEDHOME platform. Paying the Application Fee does not guarantee securing the unit. It simply signifies your application to rent it and is subject to passing the Zero Deposit Eligibility Check and receiving the Landlord’s approval.

How Do I Pay the Application Fee?

Here’s how you can safely and conveniently pay the Application Fee:

• QuickPay System: For the fastest transactions, we recommend using our QuickPay system directly on our website. It’s efficient and ensures your payment reaches us promptly.
• Trustworthy Payment Links: Only trust payment links issued by SPEEDHOME Alicia within the app. These links are verified and secure. Avoid clicking on any other payment links to prevent fraud.
• Example of what a QuickPay link looks like:
  https://speedmanage.com/quickpay/601XXXXXXX/500

Here’s how it works:

• 601XXXXXXX is your mobile number
• the number after that (e.g. 500) is the amount fee

Step 1: Click the link to access the QuickPay page that looks like this.

Step 2: Fill in your Full Name and Email details in the QuickPay form then click “Submit” – for example:

Step 3: After submitting, you’ll be directed to FPX where you can select your bank, and then proceed.

Step 4: Click “Proceed” and you will be directed to your Internet Banking Account secure login

Step 5: Finally, log in securely to your Internet Banking Account and make your payment hassle-free!

Under What Circumstances Will The Application Fee Be Refunded?

The Application fee shall only be refunded in any of the following conditions:

1. The tenant did not pass the SPEEDHOME’s Zero Deposit eligibility check, even after providing all required documentation;
2. The Landlord does not approve the application to rent or rents the unit to another tenant; or
3. The Landlord unilaterally alters the agreed-upon terms, or provides false advertising after the Tenant paid the Application Fee.

Tenant shall agree that the refund of the application fee shall take up to 3-business days upon refund request emailed to [email protected] with your details such as bank name, bank account holder name, bank account number, email address, mobile number and refund amount.

Under What Situation Does SPEEDHOME Use The Application Fee?

Upon signing of the digital tenancy agreement, the application fee shall be utilised towards the full payment of the rental invoice which is the first month rental and subscription of tenancy contracting service – SPEEDMANAGE.

When Will the Application Fee Be Forfeited?

The Application fee shall be forfeited in the following situations:

1. The Tenant unilaterally cancels or alters mutually agreed-upon terms with the landlord.
2. The Tenant fails to sign the digital tenancy agreement within three (3) days of receiving it from the landlord, or by the agreed-upon tenancy start date (whichever is earlier).
3. The Tenant fails to pay the full amount required for move-in within 2 days after the signing date or 7 days before move-in date (whichever is earlier). This applies unless otherwise agreed upon in writing between the landlord and tenant.

In the event of a forfeited application fee, RM300 will be directed to the landlord. The remaining RM200 will be retained by SPEEDHOME as an administrative fee.

What Do I Need to Do After Paying the Application Fee?

Below is a quick summary to proceed with a tenancy on SPEEDHOME:

1. View the Unit: All details, including contact information, will be provided once the appointment is confirmed. Meanwhile, the contact number of the Homerunner assigned to assist with the viewing will be provided a day before the confirmed viewing date.
   
2. Express Interest: If you like what you see, make an RM500 application fee payment to Alicia in the group chat or to our Homerunner assisting with the viewing. This payment will be deducted from your final rent payment.
   
3. Submit Documents: We’ll need some documents for credit checking. You can find more information here https://speedhome.com/learn/tenant-faq and you can upload your document here: https://speedhome.com/dashboard/profile
   
4. Credit Checking Results: Within 48 hours maximum, if you pass, the landlord can proceed with the tenancy agreement drafting process.
   
5. Sign the Tenancy Agreement: You will be required to sign the tenancy agreement within 3 days after the landlord sends you the agreement.
   
6. Full Payment: The balance must be paid after signing the tenancy agreement. If the tenant is unable to make the full payment immediately, they will need to pay at least RM500 to demonstrate their commitment to the tenancy. The remaining balance must be settled 7 days before the move-in date, unless otherwise agreed upon in writing between the landlord and tenant.
   
7. Deal Conclusion: SPEEDHOME Alicia will go through the tenancy agreement and payment status to conclude the deal.
   
8. Key Handover: Once the deal is concluded, the tenant can then arrange the key handover or key collection appointment.

If the tenant is unable to pay the balance after signing the tenancy agreement, they must obtain the landlord’s consent and inform SPEEDHOME of the agreed-upon promise-to-pay date. This payment must be made before the commencement date of the agreement.

Note: SPEEDHOME can update these terms and conditions at any time without prior notice. This article will be modified to show the updated Terms & Conditions.

If you have any further questions, feel free to email us at [email protected] or call/WhatsApp us at +60 18 7777 650

Last updated: 22nd July 2024