Close your eyes, and picture this.
You’re a landlord, and it seems like everything is falling apart. Your bills keep coming one after another like a series of inevitable road bumps. Your full-time job isn’t enough to pay the bills. You need your rental income too.
But your tenant’s not paying.
Your tenant’s defaulting.
What do you do?
Many room rentals have defaulting tenants or tenants who refuse to move out even though you give them an eviction notice. It makes you wonder: is it possible to prevent this? To protect your rights?
90% of room rentals often end up badly for landlords due to the lack of tenancy agreements. Without a legally binding contract, it is difficult for landlords to build a case against defaulting tenants and the like to claim the money back.
Enter the Tenancy Agreement.
What is a tenancy agreement?
A tenancy agreement is a contract that protects your rights as a landlord and tenant.
What does a tenancy agreement cover?
The tenancy agreement, in a nutshell, covers the conditions of the tenancy. From the tenancy period to payment schedule, house rules such as No Smoking and No Alcohol to guest policies, it also lists out certain obligations and responsibilities of both parties.
Why is a tenancy agreement important?
It is important because it gives you certain rights as well as protect your rights as a landlord/tenant. If the other party violates the tenancy agreement, you can take the case to court and the tenancy agreement can be evidence.
It can be used in case something like this happens:
- Your tenant refuses to move out despite the fact that you’ve already given the tenant enough time or an advanced notice.
- Your tenant has repeatedly refused to pay the rent on time and defaults, breaching the contract, you’re allowed to start the eviction process.
Is there an online tenancy agreement?
Yes, there is. SPEEDHOME has a digital tenancy agreement signing service called SPEEDMANAGE.
Is an online tenancy agreement legal? / What Malaysian laws support this?
Yes, an online tenancy agreement is legal. The duty stamped copy of the agreement is admissible in court. There are two local laws that support this:
- Section 7 of the Electronic Commerce Act 2006 states that an electronic message can be used to express any related communication when it comes to a contract formation.
- Section 62(2) of the 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.
How is SPEEDHOME’s digital tenancy agreement signing service, SPEEDMANAGE different?
SPEEDMANAGE is different as:
- Reviewed by lawyers: our digital tenancy agreements have been thoroughly reviewed by lawyers for fairness and transparency.
- 24/7 available online: You can access the digital tenancy agreement anytime, anywhere and download a soft copy. SPEEDMANAGE is also available on our SPEEDHOME app (Google Play; iTunes) and website here.
- Fast and Easy: Protect your rights in 30 minutes! All you need to do is fill in the details and sign the agreement. The stamped LHDN copy will be sent to you in ~2 weeks through email.