Know more about the perks of being a SPEEDHOME tenant.
SPEEDHOME is an online property platform connecting landlords and tenants to rent directly.
SPEEDHOME allows tenant to rent a home with ZERO DEPOSIT policy.
Process of renting in SPEEDHOME
A tenancy period for SPEEDHOME users starts from a minimum of 3 months and can be extended to a maximum of 12 months with the option to renew every year.
Yes, it is different. If you choose to rent short-term (i.e: 3-11 months), there will be a surcharge. Please refer to the table below.
*Note: You may also choose to pay the surcharge fee lump sum before moving in.
No, the insurance applies to landlords only.
You can search for a house/room to rent for FREE through the SPEEDHOME website or our mobile app.
- Website, Android App or iOS App: Go to our home page and click on the search bar to find a house/room. Fill in the details accordingly; area, pricing, furnishing and click on the search button.
- For room, click on the search bar on the homepage. Then, click “Housing Type” and select “Room”.
FREE Tip to find a house within a week:
Search for at least 5 houses and put a chat request to at least 5 different landlords so that you can find a house faster.
If you have found a home that you want to view, follow the steps below:
- Click on the “Chat with Owner button”.
- Fill in your details regarding the questions given (your move-in date, offer price, nationality & occupation) and click on “Submit”.
- A conversation between you and the landlord will be created. Kindly wait for the landlord to reply and you may decide when to meet the landlord for the viewing.
- Fall back to the chat and inform the SPEEDHOME team to proceed.
Note: We recommend that you search for at least 5 houses and put a chat request to at least 5 landlords to find a house faster.
Also, we highly suggest you download our mobile app to receive notifications and be on top of the game to get your house faster.
When you have a landlord that is not cooperating with you or has not replied to your chat request, contact us to help you make a deal. You can give us a call at +6018 7777 650 or drop an email at [email protected]
p.s: We recommend that you search for at least 5 houses and put a chat request to at least 5 landlords so that you can find a house faster.
If you have met the landlord and want to proceed please update us via SPEEDHOME chat or call/WhatsApp us at +6018 7777 650. We will proceed with the following steps.
- Tenant will have to make a booking fee of RM500 (to be deducted from full payment).
- Tenant will have to send us your documents for Zero Deposit eligibility checking. Documents required are as follows:
a) For Malaysians:
i) IC copy (front and back)
ii) Employment offer letter (worker) / University offer letter and Student ID (student)
iii) 1 month pay slip
iv) 3 months bank statement
v) Company SSM Cert (For Business)
b) For Foreigners:
i) Passport copy
ii) VISA copy
iii) Employment offer letter (worker) / University offer letter and Student ID (student)
iv) 1 month pay slip
v) 3 months bank statement
- Once we update the tenant passes our checking, the landlord may proceed to fill in your details on the digital tenancy agreement via SPEEDMANAGE.
- After the digital tenancy agreement is drafted, the tenant is to sign an agreement and make the balance payment.
- After the tenant signs, the landlord will choose a preferred insurance package and sign the digital tenancy agreement.
- Landlord is to pass the key to the tenant after all steps have been completed and under SPEEDHOME’s consent.
If you have not received any calls from our team, feel free to email us at [email protected]
*Note 1: Zero Deposit applies for rental from RM500 to RM5,000 only.
*Note 2: The booking fee is non-refundable. The booking fee will be forfeited if you cancel the deal after 24 hours booking payment is made. The booking fee is only refundable if you fail the Zero Deposit eligibility check. Also, you need to submit all the documentation for the Zero Deposit eligibility check within 5 days. Failing to do so will lead to forfeiting of your booking fee.
A tenancy period for SPEEDHOME users starts from a minimum of 3 months with surcharge fee and can be extended to a maximum of 12 months with the option to renew every year.
Yes, there is a digital tenancy agreement. Your landlord will create it on SPEEDMANAGE and send it to you. After that, you have to click on the link to the agreement and sign it.
You as the tenant will pay for the Speedsign fee.
The cost of the Speedsign fee is RM399 + 6% SST.
It means that tenants will not have to pay for the traditional 2+1 deposits or in fact any deposit before moving into a rental unit. All units registered under SPEEDHOME comply with our Zero Deposit policy. This means that they only have to pay for the first month rental cost + Speedsign fee + 6% SST.
Tenants will have to go through our Zero Deposit eligibility check first before signing the digital tenancy agreement signing fee. This is to ensure that tenants are financially able to pay for their monthly rental and that they do not have bad prior credit experiences. Landlords only have to pay upon successfully renting out their property with SPEEDHOME. By doing so, they get up to RM42k protection, depending on the insurance package they choose.
Partnered with Allianz Insurance, landlords’ properties are protected up to RM42,000 against loss of rental, property damage and more during the rental period. Zero Deposit also enables the rental market to open up to a larger pool of quality tenants. Their properties can get rented out 5X faster.
Zero Deposit does not cost you anything. Landlord can choose to pay for the Insurance Fee and SPEEDHOME Fee* upon successfully rented out the property. While tenants will pay for the first month rental and Speedsign fee (RM399 + 6% SST) upon dealing.
*SPEEDHOME Fee is only applicable to Extended+ package. The breakdown for Extended+ package as following:
Insurance Fee – 1.25 months’ rent (Extended package)
SPEEDHOME Fee – 0.25 months’ rent (On-Time Rental (OTR) and Overstay Cash Defender (OCD)
With over 1186 new successful deals just in this half year alone, we can tell that both landlords and tenants are happy with our services and the Zero Deposit policy as it gives a win-win solution to both parties. Partnered with Allianz General Insurance since 2017, SPEEDHOME provides an accessible and secure home rental platform for landlords and tenants. We have also paid out RM800k of insurance claims to our landlords since February 2020 and the claim rate is still 100% until now. Let us listen to what SPEEDHOME user says about us in the video below.
For more transparency reports, please click here.
As a common responsibility of the tenants, the common room needs to be taken care of by the tenants living in the unit. So, it is your duty to communicate with the other housemates to keep the common room clean.
The basic house rules are as follows:
- Kitchen use: Everybody should clean up after cooking. All dishes and cookware used should be cleaned after use and left to dry.
- Cleaning duties and supplies: Cleanliness of the house should be maintained well together. Supplies should be purchased by you.
- Common area use: Everybody is to clean up after themselves or any guests in the common area.
- Pets: Pets are only allowed after informing the Landlord and given the consent to do so.
- Conflict resolution: In the interest of household harmony, you agree to make reasonable efforts to maintain a peaceful environment within the House and shall work together to resolve any differences
- Noise level: You are to be considerate to other tenants and/or neighbors by keeping the noise low.
- Drug use: Any type of illegal drug is not to be brought around, kept or used in the house.
Additional tenants: Only the Tenant stated in the digital tenancy agreement is allowed to occupy the room.
It is free to search through our listings. Only once you have decided to rent the house, you as a tenant will have to pay the following before moving in.
1st month’s rent + (RM399+6% SST) Speedsign fee
p.s: Before signing the agreement, you will have to pay a booking fee of RM500 for house rental which will eventually be deducted from the remaining rental payment.
The booking fee is non-refundable. The booking fee will be forfeited if you cancel the deal after 24 hours booking payment is made. The booking fee is only refundable if you fail the Zero Deposit eligibility check . Also, you need to submit all the documentation for the Zero Deposit eligibility check within 5 days. Failing to do so will lead to forfeiting of your booking fee.
The cost of Speedsign fee is RM399. And yes there is an additional SST charge. 6% SST will be charged on the Speedsign fee.
Note: Besides the Speedsign fee , all of SPEEDHOME tenant services are free.
You pay the rental to SPEEDHOME every month. SPEEDHOME will send you an invoice every month to your email 7 days before the due date.
SPEEDHOME will not be responsible for any payment transaction or dealt made directly to the landlord and NO compensation will be given.
If the landlord requests you to transfer funds directly to them without using SPEEDHOME payment gateway/account number, please refrain from doing so and report them immediately to SPEEDHOME.
For room rental and home rental, it’s the same. We’ll send you an invoice every month to your email 7 days before the due date.
You can click on the payment link to pay via:
- Credit/debit card
- Online banking
p.s: If you have done a bank transfer or done cash deposit via any cash deposit machine, please send the payment receipt to [email protected] from the email that you have used to sign the tenancy agreement.
Please DO NOT SHARE any of your account credentials directly to the landlord. In the case of verification or payment details you may firstly contact SPEEDHOME through WhatsApp and immediately report the landlord.
- Lodge a police report immediately to a police station nearby.
- Attach all payment proof, conversation in the police report.
- Send these proofs, police report, and landlord contact details (name and contact number) to our email [email protected]
- Our team will acknowledge your email and lock the landlord’s account.
- For any investigation purposes, you may inform the officer or relevant investigation team to directly call us at 0187777650.
p.s: SPEEDHOME will not be responsible for any payment transaction or dealt made directly to the landlord and NO compensation will be given.
There is no fee for you to get Zero Deposit Rental Scheme. You need to just pass our zero deposit eligibility check to qualify for the Zero Deposit Rental Scheme
Zero Deposit is applicable to rooms and homes with rental from RM500 to RM5000.
Once you have decided to rent the place, you as a tenant will have to pay as below before moving in:
Home: First month’s rent + (RM399+6% SST) Speedsign fee
Note: Short term rental from 3 to 11 months comes with a surcharge. Refer to the table below to know more on the surcharge amount:
Note: No other charges for using SPEEDHOME’s services
You have to make the full payment to collect the keys before moving in. If you need some time, you can book the property with a minimum of RM500 and pay the remaining amount later before moving in. The full amount includes the 1st month’s rent and Speedsign fee.
Short term rental from 3 to 11 months comes with a surcharge. Refer to the table below to know more on the surcharge amount
Based on the table above, this is how you calculate your short-term rental.
Example: You plan to stay for 10 months
Rental price = RM1,000
Rental period category 9-11 months = 25% surcharge of the 1st month’s rent
Surcharge fee = 25% x RM1,000
If you choose to pay the surcharge in a lump sum:
Your first month rental = RM1,000 + RM250
2nd – 10th month rental = RM1,000 per month
If you choose to divide the surcharge amount throughout your tenancy period:
1st – 10th month rental = RM1,000 + (RM250/10 months)
= RM1,000 + RM25
= RM1,025 per month
The tenancy renewal cost is fixed at a cost of RM199 + 6% SST as Speedsign fee. You as the tenant will have to pay to renew it.
Yes, we will notify you within 24 hours. We will attempt to charge again within 3 days
Digital Tenancy Agreement/ Zero Deposit Eligibility Check
You can go to SPEEDMANAGE to sign your agreement. The landlord will first create the agreement and send the link to you for the signing of agreement.
p.s: Before signing the agreement, you will have to pay a non-refundable booking fee of RM500 for house rental which will eventually be deducted from the remaining rental payment. (If you as a tenant fails the Zero Deposit eligibility check , then we will refund the booking fee to you)
No, you cannot leave the property anytime before the contract ends.
If you want to leave before the contract ends, then as per the digital tenancy agreement you will have to give 2 months’ notice or pay the two months’ rent before leaving. Also, you will have to pay for your utilities of the last month you stayed before leaving the property.
It cost RM399 + 6% SST for all types of units.
The tenancy renewal cost is fixed at a cost of RM199 + 6% SST as Speedsign fee if you renew within the stipulated time.
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.
If you have any further questions, feel free to email us at [email protected] or call/WhatsApp us at +60 18 7777 650
Experian checks your loan and payment history for the past 12 months. Experian checks if you have sufficient credibility to pay the rent. This is done by checking your credit history for the past 24 months.
SPEEDHOME will perform these checks before you start renting our Zero-Deposit properties.
The documents differ based on how we can verify your credit score. Please refer below:
If you are a Malaysian citizen, we’ll check the following:
- IC copy (front and back)
- Employment offer letter (worker)
- University offer letter* (student)
- Valid student card* (student)
- 1-month payslip (worker)
- Company SSM Cert* (business)
- Latest 3 months’ bank statement – PDF
- Psychometric Test
If you are a foreigner, we’ll check:
- Passport copy*
- VISA copy*
- Employment offer letter* (worker)
- University offer letter* (student)
- Valid student card* (student)
- 1-month payslip
- Malaysian Bank Account past latest 3 months’ bank statements – PDF
- Psychometric Test
*The documents that need to be submitted above needs to be certified by the commissioner of oath (business owners) or Certified True Copy by your university (for students).
Please refer to Zero Deposit Eligibility Check Documents to further see what documents you need to submit.
As soon as possible, you get a buffer period of 5 days after paying the booking fees to complete the zero deposit eligibility check by submitting all the requested documents. Failing that leads to forfeiting of RM500 of your paid booking fees.
Mandatory: For business owners and foreign students, you will be required to submit your documents through pre document collection before proceeding with a viewing. This will allow some time for SPEEDHOME to process the documents to avoid a long waiting time and to ensure you can enjoy a faster zero deposit rental.
Have more questions about your documents? Drop your questions to our support team in the chat function on SPEEDHOME or email us at [email protected].
If you want to terminate the tenancy agreement early, you must:
- Give your landlord 2 months’ notice before the termination date.
- You must pay 50% of one month rent as penalty fee if early termination is done within the first half of the original term; OR
- You must pay 25% of one month rent as penalty fee if early termination is done beyond the second half of the original term.
- For example:
a. If you terminate early on the 1st to 6th month or first 50% of the tenancy period, you must pay 50% of one month rent as penalty fee; OR
b. If you terminate early on the 7th to 11th month or remaining 50% of the tenancy period, you must pay 25% of one month rent as penalty fee.
- Arrange the handover of keys upon moving out.
- Ensure that all outstanding utilities are paid.
- Ensure that all damages done by you during your stay is fixed.
You have two options:
Renew the digital tenancy agreement for another period of 6 to 12 months.
Move out after the end of the agreement.
When you move out. you must:
- Clear all utility bills
- Arrange a handover of keys with your landlord
Ensure that all damages done by you during your stay is fixed
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 (SSM: 201601005661) [email protected] +60327712764 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 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.
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 digital 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:
- Upon signing of digital tenancy agreement, tenant postponed the tenancy commencement date to a later date without mutual consent from the landlord;
- Tenant did not sign the digital tenancy agreement on or before the mutually agreed tenancy commencement date;
- Tenant did not pay the full payment required for vacant possession within the 7-days of the mutually agreed tenancy commencement date; or
- Tenant cancelled the deal after 24 hours the booking was paid to SPEEDHOME.
- 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.
- 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: 24 February 2021
11 thoughts on “Tenant FAQ”
what if the landlord decides to terminate the agreement early ?
Please inform SPEEDHOME immediately via [email protected] or call us at 018-7777650 and we will sort it out for you.
When a Landlord does his claim to Allianz, does the Tenant have to pay the claim amount?
No, tenant does not need to pay the claim amount.
Hi. I want to ask, can the lanlord postpone the tenant date of move in through messaging (reason the house not ready) eventhough already put a specific date on the agreement?
Hello, in this case, you will need to liaise with your tenant and respective SPEEDHOME personnel assisting you.
Will speedhome undertakes to ensure tenant paid up the monthly utilities charges on or before due date, and/or outstanding charges due before date of moving out.?
On a monthly basis, the SPEEDHOME team will send out multiple reminders before the rental due date, during the due date and even after the due date. This applies to tenants that are moving out as well.
On the other hand, if the landlord has subscribed to an insurance package on SPEEDHOME, the landlord will get a loss of rental, Overstay Cash Defender and on-time rental protection where the landlord will get their rental even If the tenant does not pay. SPEEDHOME landlord insurance also covers unpaid utilities up to RM3000.
Hi the speedsign fee in only paid one time when I move in or I have to pay rm399 every month on top of the house rent
The SPEEDSIGN fee is a one-time fee for tenancy agreement, so you will only need to pay it when you sign the tenancy agreement
As I am a international student and I don’t have any bank account, can I apply for zero deposit, as I saw the required documents for international students are passport, visa copy, offer letter