Importance of Tenancy Agreement & Stamping
A tenancy agreement is a printed document that states all the terms and conditions where the tenants and landlords have agreed upon before the tenant moves in.
It is very crucial for property for lease in order to protect the landlords and tenants. For example, by clearly having a tenant responsibilities list that states all payable charges, such as water, electricity and sewerage charge the tenant needs to pay, the landlord is then lifted from bearing any legal responsibility regarding these charges.
To legitimize a tenancy agreement, it is important to note that both landlords and tenants must sign it. After which, the tenancy agreement is required to be stamped by LHDN for it to be legal in court. A tenancy agreement stamp duty, which is a form of taxes placed by the government on legal documents will have to be paid to finalize a tenancy agreement before a rental can happen.
Normally, there are two copies of the tenancy agreement, one copy for the landlord and another one for the tenant. Both of the copies have to be stamped by LHDN before the process of moving into a new property occurs. The Malaysia Inland Revenue Authority, also known as “Lembaga Hasil Dalam Negeri Malaysia”, LHDN Malaysia is where you pay your stamp duty and may get stamping on your tenancy agreements done.
Rental fees, stamp duty and tenancy agreements can be confusing to anyone moving in or leasing a property. To make things easier, let us calculate your stamp duty for you. Fill in your monthly rental and lease period of the property in the calculator below to know how much you would need to pay for the stamping of the tenancy agreement.
Understand the formula on how Stamping Fee is calculated for a rental within Malaysia by reading our article here. You can also find a rental agreement stamping fee calculator below where we calculate for you! With the calculator, calculating tenancy agreement stamp duty is pretty easy.
To calculate how much you need to pay for stamping your tenancy agreement, fill in your monthly rental and lease period in the calculator below.
How the Stamping Fee is Calculated
Don’t worry, calculating tenancy agreement stamp duty is pretty easy. You can find out the formula in our article here. If you’re not u for the hassle of calculating the stamping fee, you can sign the tenancy agreement online via Speedmanage, a web solution by SPEEDHOME.
Apart from that, if you want to know how much rent you can afford based on your income, you can go to our Rent Affordability Calculator. Save yourself from the mistake of overspending on rent that you can’t afford.