Zero Deposit on SPEEDHOME lets you move in without the usual two-to-three-month cash deposit, once you pass an eligibility check. The check is a standard tenant screening: identity, income, and bank records, with the exact documents depending on whether you are a Malaysian, a working foreigner, a student, or a business owner. This guide lists what to prepare, explains how the screening works, and is honest about what Zero Deposit is — and is not.
What is Zero Deposit, really?
Zero Deposit is a managed rental-risk system, not a financial guarantee product. It replaces the upfront cash deposit; in the rare case of severe end-of-tenancy damage the recoverable amount can be limited, so it is not a blanket guarantee.
Instead of holding a large cash deposit, SPEEDHOME screens tenants and manages the rental risk directly. That is why it lowers your move-in cash rather than removing your responsibilities: you still keep the unit in good condition and remain liable for what you agree to in the tenancy agreement. Confirm Zero Deposit eligibility on the live listing — not every unit qualifies.
What documents do I need for the eligibility check?
The core set is your IC or passport, an employment or offer letter, your latest payslip, and your latest three months' bank statements (PDF). Students add a student visa or university letter and often a guarantor's payslip; business owners add company registration and bank records.
Malaysian citizens prepare an IC copy (front and back), an employment offer letter, the latest payslip, and three months of bank statements. Working foreigners add a valid passport and employment visa. Students provide a student visa or university offer letter, passport or IC, and usually a guarantor's payslip. Business owners add company registration documents and company bank statements. Having clean PDFs ready speeds up approval.
How does the screening actually work?
Screening verifies who you are, that your income comfortably covers the rent, and that your recent bank activity is consistent. Submit the documents through the SPEEDHOME website or app; approval is typically quick once the records are complete and legible.
The check confirms identity, income stability, and affordability against the rent. You upload the documents through your SPEEDHOME account on the website or the mobile app, and the team reviews them. The most common cause of delay is a password-protected payslip PDF or a statement that is missing pages, so remove passwords and submit complete files.
Why does screening replace the deposit?
A large cash deposit is a blunt safety net; verified screening is a sharper one. Confirming income and identity up front filters most of the risk a deposit is meant to cover, which is what lets the upfront cash come down without the landlord taking on undue exposure.
A deposit only helps after something goes wrong, and only up to its amount. Screening works before move-in by checking that a tenant can comfortably afford the rent in the first place. That is the trade SPEEDHOME makes — better information up front in exchange for less cash down — which is also why eligibility depends on the documents above.
Is there a legal cap on rental deposits in Malaysia?
Malaysia has no statutory residential rent-deposit cap; deposits are governed by the tenancy agreement, and a landlord's right to retain is limited to proven loss. That is the traditional cost Zero Deposit is designed to reduce.
There is no law setting a maximum deposit; the common two-plus-one-plus-half-month stack is market custom written into the tenancy agreement. Because nothing fixes that amount, the upfront cash can be high — which is exactly the cost Zero Deposit lowers for eligible tenants.
FAQ
What documents do I need for SPEEDHOME Zero Deposit eligibility?
The core set is your IC or passport, an employment or offer letter, your latest payslip, and your latest three months' bank statements as PDFs. Students add a student visa or university letter and usually a guarantor's payslip; business owners add company registration and bank records.
Is Zero Deposit the same as insurance?
No. Zero Deposit is a managed rental-risk system, not a financial guarantee product. It replaces the upfront cash deposit; in the rare case of severe end-of-tenancy damage the recoverable amount can be limited, so it is not a blanket guarantee.
Does Zero Deposit mean renting is free?
No. It lowers the cash you need before move-in by removing the security deposit, but you still pay advance rent and remain responsible for the unit's condition under your tenancy agreement.
Is there a legal cap on the deposit in Malaysia?
No. Malaysia has no statutory residential rent-deposit cap; the amount is set by the tenancy agreement, and a landlord may only retain what covers proven loss. Zero Deposit is designed to reduce that traditional upfront cost.
Why is my eligibility check taking time?
The usual cause is a password-protected payslip PDF or a bank statement that is missing pages. Remove any document password and submit complete, legible PDFs to speed up approval.
Can I get Zero Deposit on any listing?
Not every unit qualifies. Check the live SPEEDHOME listing page to confirm Zero Deposit eligibility for the specific home you want before you apply.