How to Find Tenants?

Finding reliable tenants quickly is the single biggest landlord pain point in Malaysia. A vacant unit costs RM40-200 per day in lost income. Here is what actually works — evidence from SPEEDHOME’s data on Malaysian rental market fill rates.

A common problem of every landlord is finding quality tenants. Finding quality tenants is hard and more often than not it’s troublesome and time-consuming. Do you have the same problem of wanting to find a tenant but not finding a quality one? Then you should definitely read this blog!

 

Here are 5 tips to find a quality tenant…

 

 

 

Use ‘For rent’ signs 

This is probably the classic way to find a tenant, but it’s still a good way to let people know you wanna rent out your property. You just buy a sign and place it. Whether it’s a window, or a sign on the lawn, just make sure that it’s in a strategic place and that people can see the sign.

 

But be careful, sometimes you need permission to place a sign. You can check this with your local community council like MPSJ, short for Subang Jaya City Council and MBPJ (Petaling Jaya City Council).

 

 

Find your own tenants

Another thing you can do is actively look for prospective tenants outside. Just like anything, there’s pros and cons for this method as well.

Why you should do this:

• You don’t pay commissions to agents
• You know exactly what is going on
• You can make sure you have a quality tenant yourself.

 

 

Why you shouldn’t do this:

• This will take a lot of time and effort
• Ask yourself if you have the knowledge or are willing to do this.
• It’s not free! You need to reach your audience yourself and advertising costs money.

Find tenants through a Newspaper

If you wanna target a specific audience, a newspaper can be a good solution. But do note that you have to create the content yourself.

 

Also, rental ads are really tiny, so you have to be really clear in your message.

 

 

Use the power of word of mouth!

Surprisingly, word of mouth is very underrated when it’s actually a pretty good method to spread the word. Tell everybody you know that you’re renting out a property. Maybe they have friends, a brother or sister who’s looking for a property. Through word of mouth, you can reach a big audience very easily.

 

 

Social Media Groups

The more exposure your listing gets, the better your chances are. Social media groups are everywhere, and there might be groups in your surrounding area or neighbourhood. Facebook in particular is very popular to find a group near you by filtering through location. But bear in mind you should check if there is a rule in regarding to advertising your property and such. Some groups are very strict about that.

Don’t be too eager!

What does this mean? It’s important that you take enough time to screen your tenant. Don’t be too desperate to rent out your property. It’ll save you a lot of potential problems if you do a good background check. Why is that? Well, sometimes tenants are not always fair or honest about themselves. For instance, they say they have enough money to pay deposit.

 

But at the end, they don’t even have jobs! If you do a good background check, you’ll prevent these kind of situations or t least minimise the risk of having a tardy tenant. It’s better to take your time to find a quality tenant.

 

BONUS TIP!

Just use SPEEDHOME! We will find you a quality tenant. This means we’ll do the marketing, background check and agreement! Also we have a SPEEDHOME rental protection! This reduces risk, but landlords should still document the property condition and follow the claims process if something goes wrong.

The only thing you have to do is take some beautiful pictures and post your property, we will do the rest!

Frequently Asked Questions

Related guides: complete landlord guide Malaysia | how to rent out property in Malaysia | tenancy agreement guide for Malaysia