Landlord FAQ

Landlord FAQ

With SPEEDHOME, savvy landlords like you will get 20x better protection and find quality tenants 5x faster than other rental platforms.

Join 90,000+ landlords all over Malaysia who have used SPEEDHOME

Your house is protected up to RM42,000

During your rental period, to provide full peace of mind, our Allianz Insurance will protect you up to RM42,000 against loss of rental, property damage and more. You have maximum protection while maximizing speed to lease out. Who says that you can’t have it both?

Zero Deposit properties get rented 5X faster

Renting out your property with Zero Deposit opens it up to a larger pool of quality tenants. You will gain much greater interest from quality tenants, fast.

Tenants are good quality paymasters

To ensure that you get good quality paymasters only, we run industry-leading Zero Deposit Eligibility checks on your potential tenant, using Experian. We reject up to 30% of tenants to reduce your risk.

Please e-mail us at [email protected] if you can’t find the question/answer you’re looking for.

Basics

SPEEDHOME is an online property platform connecting landlords and tenants to rent directly. SPEEDHOME provides landlords up to 20x better protection than the traditional deposit and helps them find tenants 5x faster. By providing Zero Deposit home rental, landlords gain much greater interest from quality tenants, fast.

To ensure that you get good quality paymasters only, SPEEDHOME runs industry-leading Zero Deposit Eligibility checks on your potential tenant, using Experian. We reject up to 30% of tenants to reduce your risk.

During your rental period, to provide full peace of mind, our Allianz Insurance will protect you up to RM42,000 against loss of rental, property damage and more. You have maximum protection while maximizing speed to lease out.

 Note 1: Insurance is only available for those who successfully transact through SPEEDHOME with rental ranging from RM500 to RM5,000.

Note 2: There are only insurance charges for landlords once they have successfully rented out their property. No other charges or hidden fees for SPEEDHOME‘s services.

You can post your property for FREE through the SPEEDHOME website or our app.

  • Website: Click on the button that says ‘Post Property FREE’ on the top of our website then continue to fill in your property information. Then sit back, relax and we’ll do the rest.
  • Android or iOS app: Click on the post button at the bottom of the app, then proceed to posting your property listing.

Note: SPEEDHOME is completely FREE to download and to use for searching and posting property listings.

  • Website:  Login and click on the avatar icon on the top right. After that, select “My Listings”. Click on the listing and select Edit.
  • Android or iOS app: Click the ‘more’ button on the bottom right of the app, then click on ‘my listing’ followed by clicking on edit listing on the listing that you want to edit.

Yes, you can. SPEEDHOME’s tenancy period starts at a minimum of 3 months and can be extended to a maximum of 12 months with the option to renew every year.

SPEEDHOME provides landlords 20x better protection, through several ways:

  • With our On-time rental, regardless of whether your tenant pays you on the due date, you’ll receive the money on-time, every time from us.
  • We’re as strict as a bank when it comes to running zero deposit eligibility checks on tenants. We undertake EXPERIAN credit checks to ensure that you get a good paymaster every-time.
  • We understand the pain caused by a tenant ruining your house. So with our Allianz Insurance partnership, your property is protected up to RM42,000. covering damages, theft, unpaid utilities, unpaid rental, etc.

The tenant will send you a chat request. Interested tenants will click on the ‘Chat With Owner’ button on your property’s listing. Once they have filled in some details, we connect you both, allowing you to arrange a viewing. We will provide phone numbers of both parties to each other upon confirmation of appointment.

  • Website: Once you have logged into your account, click on the chat icon on the top right of the page. This will open your tenant chats.
  • App: We will inform you via Whatsapp and notification on the app. Just click on the link to chat with the tenant.

Pro-tip! Download our app to get updates and instant chat notifications.

Click on the Chat button at the bottom on the app, this will open up your chats with tenants.

Our homerunners take care of this for you, so you don’t have to worry about the viewing. Our homerunners team will pick up your house keys to show the house to interested tenants. So you can sit back, relax and let us take care of the viewing.

SPEEDHOME Homerunner process

P.s: As per our records, our homerunners have managed to help landlords find their dream tenants within less than 24 hours! Click here for us to collect your keys, and for you to relax now.

If you want to do it yourself…you can, but we do recommend allowing homerunners to do it for you. Landlords that use homerunners close deals 2x faster, and it’s hassle-free!

If you prefer managing it by yourself, arrange a time and viewing through SPEEDHOME chatroom, we will assist you and your future tenant at choosing the best time that would fit you both to meet.

When meeting the tenant kindly ask any relevant questions to clear all your doubts and negotiate the rental to avoid conflicts and miscommunication.

Please follow the steps as below:

Step 1: Once both parties have agreed to deal, please fall back to the chat and inform the SPEEDHOME team to proceed. 

Step 2: Your tenant will undergo a full zero deposit eligibility check after paying a booking fee of RM500.

Step 3: Once the tenant clears the zero deposit eligibility checks, proceed to complete our online tenancy agreement, SPEEDMANAGE

Step 4: Send the link to the tenant to fill in their details and sign.

Step 5: Wait for the tenant to make the remaining payment.

Step 6: Sign the tenancy agreement and complete the deal. Now, you can arrange for the handover of keys. Simple! For assistance, feel free to contact our Customer Support team via the app or send an email to [email protected]

After logging in, please follow the steps below: 

For App

  1. Tap on the ‘More’ button on the bottom right
  2. Tap on “My Listings”
  3. Tap “Archive” on the property you want to remove.

For Website

  1. Click on your Profile icon
  2. Click on ‘My Listings’
  3. Click “Archive” on the property you want to remove

Here’s how you benefit from SPEEDHOME.

  1. You will receive Quality Tenants only. We’re as strict as a bank when it comes to running EXPERIAN credit checks ensuring that you get a good paymaster every time.
  2. Your house is Protected up to RM 42,000. With our Allianz Insurance partnership, your property is protected covering damages, theft, unpaid utilities, unpaid rental, etc.
  3. You will receive rental on-time, every time With our on-time rental, regardless of whether your tenant pays you on the due date, you’ll receive the money on-time every time from us.
  4. You Post and SPEEDHOME will take care of the rest. Our homerunners team will meet your tenant for you and close the deal. So just post your property, sit back, relax and we’ll do the rest.
  5. Dedicated eviction guidance and support.  If a tenant defaults or is about to default, our Operations team will guide you with the eviction process

Insurance and Claims

With our partnership with Allianz General Insurance, you can protect your property 20x better than traditional deposit. Get secured with Allianz up to RM42,000 when you transact using SPEEDHOME

  1. Loss of rental if your tenant runs away or defaults: up to 2 months
  2. Inconvenience benefits or minor property damage: up to RM2,000.
  3. Accidental damage or theft in the property:up to RM30,000
  4. Demand letters: up to 2

SPEEDHOME Insurance Package

There are three insurance plans for home rental, Please refer to the following visual. 

*Please take note that:

  1. There are no other charges for landlords except for insurance charges.
  2. The insurance cost for Extended and Extended + will be spread over the first two months.
  3. On-Time Rental is a feature that allows you to get your rental income on time during the entire tenancy period.

You will receive a soft copy of the insurance policy within 30 working days after the start date of the tenancy through email.

Note 1: Insurance coverage will only be provided for landlords who have completed transactions with SPEEDHOME (rental ranging from RM500 – RM5,000)

Note 2: The Insurance plans apply to only 12 months and below.

You will receive a soft copy of the insurance policy within 30 working days after the start date of the tenancy through email.

You as the landlord will pay for the insurance. Please refer to the table below.

SPEEDHOME Landlord Short Term Rental

Note 1: Insurance coverage will only be provided for landlords who have completed transactions with SPEEDHOME (rental ranging from RM500 – RM5000).

Note 2:  Insurance plan only applies to a maximum of 12 months of rental.

Yes you can. Our Allianz Insurance is applicable for room rental above RM500. 

SPEEDHOME Time taken for claiming process

Our landlord claims have been 100% approved by Allianz General Insurance, providing landlords peace of mind. The time taken for you to get your claim amount is as follows: Do note that you only have 2 weeks after the end date of the tenancy agreement to claim any of the above. After 2 weeks, requests will not be entertained. Only damages caused by your tenant will be covered by the insurance. Other costs that were caused by other factors will not be covered by the insurance. See here for more info.

SPEEDHOME Claiming Process Documentation Needed

Claiming with SPEEDHOME is easy, you need to provide relevant supporting documents as above. Having a lot of pictures showing the damage is beneficial to speed up the claim time, as Allianz will analyse based on the picture given. All the claims document needs to be submitted to [email protected] Contact us at +6018 7777 650 for further assistance on claims.

To understand the full claim process and insurance T&C, please refer claim submission page at claims.speedhome.com

Payment

All of our services (rental collection, viewing management service, online tenancy agreement service) are FREE for landlords. you do not have to pay anything to post your property ads on SPEEDHOME.

It is an open platform, any landlords can go to our website or our mobile app and post their listings for FREE.

There are only insurance charges. The insurance secures your home up to RM42,000 protecting you against loss of rental and property damage.

Please refer to the following table for the insurance cost and length of rental period.

SPEEDHOME Insurance Cost Landlord Has To Pay for Short Term Rental

The tenancy renewal cost is fixed at a cost of RM199 + 6% SST and will be paid by the tenant. The landlord will pay for the renewed insurance (see question below).

To renew your landlord protection, you have some options of Basic, Extended or Extended + packages as before.

However, if your tenant has a history of good conduct, you can opt in for a lower rental protection option.

Example: If your monthly rental is RM3,500 and you may choose to protect your property RM2,000 worth of rental on basic plan. Your insurance cost would be RM2,130 (2,000 +6%SST + RM10) and you would be covered up to 80% of RM2,000 rental for two months (instead of 80% of RM3,500 for 2 months).

Our tenancy period starts at a minimum of 3 months and can be extended to a maximum of 12 months with the option to renew every year.

Your tenant will pay us the rent and we will transfer it to you within 3 working days. If you have On-Time Rental, you’ll receive it either on the day of the rental deadline as per the latest tenancy agreement or earlier. Yes, even if the tenant has made the payment or not you will receive it on time with the On-Time Rental payment.

Within 2 weeks after the tenant still hasn’t paid the rental on the agreed date (specified in the tenancy agreement) and left the premise, you must file a police report of this incident and inform us. We will process the claim procedure on your behalf. You can contact us at [email protected]

Yes. We will always keep you notified in case of any delay in the payment via SMS, WhatsApp and phone calls. You can also check the rental status using the app.

  • Mobile app: Click on the bottom right ‘More’ button. Then, click on “Rental Collection” to check the rental status.

Feel free to email our Finance team at [email protected] for your rental problems or concerns.

Yes, you need to pay 6% SST on the home insurance policy amount that you need to get once you find a tenant. Note: The home insurance is only for homes with rental from RM500 to RM5,000.

Tenancy Agreement

Just visit SPEEDMANAGE, to sign the tenancy agreement.

The tenancy agreement fee is paid by the tenant.

A standard tenancy period is 6-12 months. We also provide short term tenancy agreements starting from 3 months.

We screen your potential tenant’s credit history and also do a zero deposit eligibility check. After you successfully lease with us, you can get insurance with Allianz securing your home up to RM42,000.

If your tenant for any reason wants to terminate the tenancy agreement early, he/she must comply with the following terms:

  • Notify us (SPEEDHOME) and you (landlord) 2 months before the termination date.
  • IF… he/she needs to leave immediately, he/she must pay two months rental as a penalty.
  • Arrange the handover of keys upon moving out.

Yes, a digitally signed tenancy agreement is legal. The duty stamped copy will be admissible in court under Section 7 of Electronic Commerce Act 2006 and Section 62(2) of Digital Signature Act 1997. Section 7 of Electronic Commerce Act 2006 basically states that an electronic message can be used to express any related communication when it comes to a contract formation. As for Section 62(2) of Digital Signature Act 1997, a document signed with a digital signature is as legally binding as a document signed with a handwritten signature, an affixed thumbprint or any other mark.

Referral Programme

We’d love for you to share SPEEDHOME to your friends and, if you do so, we will reward you both if either:

A) Your landlord friend rents out their property on SPEEDHOME.

Or

B) Your tenant friend rents a new home on SPEEDHOME.

When you sign into SPEEDHOME and go onto speedhome.com/more/refer you will see your unique link. This is your link to share freely to whoever you want. When someone rents a property or rents out a property using this link, we know they came from you and will reward you accordingly.

Upon successful property rental using your link, we will be in contact with you and then transfer your reward in 14 working days. Your friend will receive a RM100 discount on their Insurance fees, you will receive RM300 for your first 5 referrals, after this RM100 each time you refer.

Note that completion can take a 1+ months, so there will be a delay between sending the referral link and receiving the referral bonus. The following terms apply.

  • The referral scheme only applies to new customers.
  • The new customer must sign up to find or rent out their property with SPEEDHOME within six months, where
  1. The referrer can get RM300 cash for the first 5 referrals within three months;
  2. After the first three months, the referrer can get RM100 cash for each referral within the fourth to sixth month;
  3. The referee can get a RM100 discount on Tenancy Agreement or Insurance Premium within six months.
  • You cannot refer to yourself.
  • We reserve the right to withhold payments of the referral reward in our sole discretion if we deem there has been a misuse of the referral programme.

You can invite as many people as you want!

You will be able to redeem your reward once your landlord friend reaches the stage of signing the tenancy agreement and has bought the insurance premium.

Or

You will be able to redeem your reward after your tenant friend successfully rents their property and signs the tenancy agreement.

We will contact you within 14 days of the property being successfully rented out to ask for your bank details so that we can deposit the money into your account. It can take 1+ months for a unit to become successfully rented out

Yes, there is a limit. You can successfully refer 5 times and get RM300 each time within 3 months from the date of referral. After this, you will receive RM100 per successful referral from the fourth to sixth month after the date of referral. Pretty exciting right?!

Your friends will receive a discount of RM100 reward on their insurance premium when they have successfully rented with SPEEDHOME.

A referral qualifies as valid:

  1. If the referrer and referee create an account in SPEEDHOME platform for the first time.
  2. If the referrer and referee registered with SPEEDHOME platform in the year 2020 onwards.
  3. If the successful deal done through referral is within 6 months from the date of referral.

They are required to be screened through our Zero Deposit Eligibility Check, submitting their 3 month’s bank statement, employment/university offer letter and copy of IC/Passport/Visa.

Any landlord that rents out a unit above RM500 and signs a SPEEDHOME Tenancy Agreement using your link will make you eligible for reward.

No, only deals that take place through SPEEDHOME platform will make you eligible for rewards. Any deals that take place outside of the platform will not result in you getting a reward and will result in your friend getting banned from SPEEDHOME.

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) of A-G-23, Eve Suite, Jalan PJU 1a/41, Ara Damansara, 47301 Petaling Jaya, Selangor Darul Ehsan, Malaysia (“We” or “Our” or “Us” or “Speedrent” or “SPEEDHOME“), 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 understand the terms and conditions herein. If you do not agree with the terms, please do not use this Application. For 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.

Booking Fee (or 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 tenant has passed checking, the landlord shall agree to reserve the property for 7 days and not to rent the property to other tenants.

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

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

Tenant shall agree that the refund of 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.

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

Booking fee shall be forfeited in any of the following conditions:

  1. Upon signing of tenancy agreement, tenant postponed the tenancy commencement date to a later date;
  2. Tenant did not sign the 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. Tenant cancelled the deal after 24 hours the booking was paid to SPEEDHOME.
  5. Tenants are required to sign the 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.
  6. Once both parties have paid the full amount with the agreement signed by both Landlord and Tenant with the LHDN stamping completed, in the event of a cancellation, we will deduct the stamping fee cost from the total refund amount.

The forfeited booking fee will be transferred in full to the landlord.

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: 22 June 2020

4 thoughts on “Landlord FAQ

  • May 25, 2020 at 9:14 am
    Permalink

    If landlord is stay in sgpore,then for case the tenant didn’t pay the rental,how landlord make the report

    Reply
    • May 27, 2020 at 3:34 am
      Permalink

      Dear chan,

      Please inform us if you face any of this issue with our tenant and we will advice accordingly.
      For most situations, you can ask for your representative to lodge. However if your property is KL address you may be able to lodge online.

      Hope that helps “)

      Reply
  • June 6, 2020 at 3:50 am
    Permalink

    Is tht cover for room Rental? Is Damage claim include wall paint scratch/ dirty or tenant make lot hole in the wall? Furniture broken? Very dirty after move Out? Access card missing? And How about outstanding or utilities?

    Reply
    • June 26, 2020 at 3:35 am
      Permalink

      Dear Douglas,

      Yes we do cover room for RM500/mo and above. For wall paint and holes we only covered affected areas. Broken Furniture can be claimed up to RM15,000. Access card, cleaning fee, outstanding utilities can be claimed under inconvenience benefits up to RM2000. For more info, visit https://speedhome.com/services/insurance.

      Reply

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