For Landlords

Booking Fee Terms & Condition

The terms and conditions of this Booking 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 Booking Fee?

Booking Fee Terms & Condition - What Is The Function of The Booking Fee?

A booking Fee (known as Earnest Deposit) is a form of upfront payment to secure your tenancy request for the dedicated property posted on the SPEEDHOME platform. Upon payment of the booking fee made and the tenant has passed checking, the landlord shall agree to reserve the property for 7 days and not to rent the property to other tenants.

Under What Situation Will The Booking Fee Be Refunded?

 Under What Situation Will The Booking Fee Be Refunded?

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

  1. The payer/tenant who did not pass the SPEEDHOME’s Zero Deposit eligibility check;
  2. When the Landlord cancels the deal or rented out the unit to other tenants;
  3. Landlord increased the mutually agreed rental rate or false advertisement after the payment of booking fee; or
  4. Landlords and tenants cancel the booking or deal within 24 hours after the booking fee payment is made.

Tenant shall agree that the refund of the booking 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 Booking Fee?

 Under What Situation Does SPEEDHOME Use The Booking Fee?

Upon signing of the digital tenancy agreement, the booking 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.

How Can The Booking Fee Be Forfeited?

 Booking Fee Terms & Condition - How Can The Booking Fee Be For Forfeited?

The Booking fee shall be forfeited in any of the following situations occur:

  1. Upon signing of the digital tenancy agreement, the tenant postponed the tenancy commencement date to a later date without mutual consent by the landlord;
  2. Tenant did not sign the digital tenancy agreement on or before the mutually agreed tenancy commencement date; 
  3. Tenant did not pay the full payment required for vacant possession within the 7-days of the mutually agreed tenancy commencement date; or
  4. The tenant cancelled the deal after 24 hours the booking was paid to SPEEDHOME.
  5. Tenants are required to sign the digital tenancy agreement within three (3) days once the Landlord has sent it to the tenant via speedmanage.com. Failure to do so will result in the forfeiture of the booking fee.

The RM300 of the forfeited booking fee will be transferred to the landlord. The remaining RM200 will be retained by SPEEDHOME.

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: 24th July 2020

95 thoughts on “Booking Fee Terms & Condition

  • Azizul Aziz

    I agree with the condition

    Reply
  • Rafiudin b Rahmad

    Ok I understand.

    Reply
  • I’m agreed with this condition

    Reply
  • Ok i understand conditions

    Reply
  • Rosmaniza rainis

    Ok agree with the T& Condition

    Reply
  • Nura Rahmat

    I understand the terms and condition

    Reply
  • Muhammad nurul azreen

    I agree with the condition

    Reply
  • Jamaliah Anuar

    I agree with d condition

    Reply
  • Olivia

    What might be the cause of failed Eligibility check? What are the criteria to pass the credit Eligibility test

    Reply
    • Ming Min Wong

      It depends mostly on your credit score. If tenant has a bad history in paying debt/loan then he/she has lower chance to pass the Eligibility check.

      Reply
  • Keith Jason Pinto

    I agree. 👍

    Reply
  • Chua Jian shin

    Okay I agree

    Reply
  • Rohazlin bt. Ramli

    Ok I agreed

    Reply
  • GUNALAN A/L ARUMUGHAM

    Agree

    Reply
  • Erwanzuhaili bin razali

    Agree

    Reply
  • Eferaka Salvation Enoho

    Agreed.

    Reply
  • MUHAMMAD AZAMIE

    i agreed

    Reply
  • Aiman Afiq

    I agree with the terms and conditions

    Reply
  • Rosita Binti Jamal

    Terms & conditions good

    Reply
  • Toong Ming Chuan

    i agree with the condition

    Reply
  • Nartashar Katsidzira

    Understood

    Reply
  • Barbara Clemente

    Agree!!!

    Reply
  • Intan Sazleena Ramli

    Understood

    Reply
  • MUHAMMAD NAJMAN BIN MUSTAPHA

    Agree

    Reply
  • Izzul Iqram Bin Rahim

    Agree

    Reply
  • mohd haffis bin harris

    i agree with the condition.

    Reply
  • Millard Louie Cacal Dacanay

    I agree

    Reply
  • Ellysa sofena binti ismail

    Agree

    Reply
  • tengku abdul aziz

    understand and agree

    Reply
  • HAZALY BIN HASSAN

    Okay agreed

    Reply
  • HAZALY BIN HASSAN

    Okay I agree

    Reply
  • Mun chang choon

    Agree and understand

    Reply
  • Asrulnizam Yassin

    Noted✌️✌️

    Reply
  • Asrulnizam Yassin

    Understand and agree

    Reply
  • Nurul amira

    Agree and understand

    Reply
  • Masitah bt mohamed

    Ok,i agree

    Reply
  • Irzam

    Agree and understand

    Reply
  • Jameson Kho

    Agree and understand the terms and condition

    Reply
  • Nasaruddin bin abu hashim

    I agree and understand

    Reply
  • Christine Peter

    Ok.understood

    Reply
  • Nasaruddin bin abu hashim

    I’m agree

    Reply
  • Mohamad Khairul Azhar

    I agreed on the conditions

    Reply
  • Ganesan Nair

    I agree with the agreement

    Reply
  • Rohaliza bt sangidin

    I agree with agree

    Reply
  • Rohaliza bt sangidin

    I agree with agreement

    Reply
  • Rohaliza bt sangidin

    U agree with agreement

    Reply
  • Sritharen Perumal

    I agree with the terms and conditions of the agreement.

    Reply
  • Kirubashini Rajendren

    I agree

    Reply
  • ASHWIN KAUR PERWINDER SINGH

    i agree with the terms and conditions

    Reply
  • Wong chuen wai

    i agree with the condition

    Reply
  • Nora ismail

    I agree with the condition

    Reply
  • Suraya Zainal Abidin

    I agree with the condition

    Reply
  • NUR LYDIYANA BINTI ABDULLAH

    Noted, I agree with the condition

    Reply
  • Nor Athirah

    i agree with terms and conditions

    Reply
  • Nur diana binti dzulkiply

    Agreed

    Reply
  • Nik Norihan binti Abdul Rahim

    Agreed

    Reply
  • Alia Sheikh

    Noted. I agree w all terms and conditions. TQ

    Reply
  • Priyamalane Al ganesan

    I’m agree for All

    Reply
  • Priyamalane Al ganesan

    I’m agree with all

    Reply

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