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The Housing and Local Government Ministry (KPKT) is formulating a tax that could be imposed on developers who fail to sell their properties as early as early next year, in an effort to reduce overhang of residential units in the country. Continue reading “Vacancy tax to imposed on developers as early as 2021”
Will there be a “surge” in market interest for properties with the current low interest rates and “wealth effect” from the stock market?
This is the question posed by The Edge Malaysia in its latest issue.
“Property investment is considered a natural hedge against inflation that can help investors preserve capital, soften the effects of inflation, generate income and create capital appreciation. Also, adding property to a portfolio helps increase investment diversification. Continue reading “Low interest rate environment: Will the property industry benefit?”
Hong Leong Investment Bank Research (HLIB) is not discounting the possibility that Bank Negara Malaysia (BNM) will cut the overnight policy rate (OPR) by another 25 basis points (bps) to 1.50% by as early as its next Monetary Policy Committee (MPC) meeting in September. Continue reading “BNM may cut OPR by another 25bps to 1.50%”
Borrowers will need to start repaying their loans from October onwards as the banks will not extend the automatic loan moratorium, banking sources said.
However, an industry source said while the blanket moratorium would end, banks are open to assist borrowers to restructure and reschedule their loans in a more targeted manner. Continue reading “Banks will not extend moratorium”
The country’s unemployment rate rose to its highest point this year to reach 5.3 per cent in May, with the number of jobless Malaysians also reaching a high of 826,100 that month, the latest official statistics has shown. Continue reading “Malaysia’s jobless shot up to 826,100 in MCO-era in MAY 2020”
The government has been urged to consider extending the six-month moratorium on bank loan repayments to December to ease financial burdens of the public. Continue reading “Govt urged to extend moratorium on bank loan repayments to December”
Managing rental properties & collect rental can be a profitable business as long as you manage your cash flow well and collect rent on time. In fact, the biggest factor in your cash flow will be your ability to collect rent on time.
As a landlord or agent, you may have chance to have a tenant who pays rent late – or not at all.
Here are seven tips for collecting rent on time and handling tenants who have trouble paying rent.
Requiring tenants to pay rent via an auto-pay or auto-deduct system is the best way to collect rent on time. There are even multiple systems that will deposit the money automatically to your bank account. The major benefit is that this eliminates the factor of human error – i.e. tenants “forgetting” to pay rent.
RentGuard rental solution provides a hassle free on rental collection with credit card and debit card to deduct the tenants rent money and deposit it to landlord bank account.
Only rent to qualified tenants with a great rental history. No surprise here, right? When screening tenants, you will see the entire gambit of credit ratings. Some prospective tenants will have an excellent history paying bills, but others will have downright terrible payment habits.
Accepting cash as a rent payment is never a good idea. I know it’s tempting, but as I discuss in the article “Danger Danger, Be Cautious of Cash“, just don’t do it.
Cash is too easily lost, leaves no paper trail in the event that your tenant disappears, and may sometimes imply that your tenant is involved in illegal business activities.
You can eliminate these risks by establishing a policy in which you do not accept cash as a payment for rent.
Serve a legally sufficient notice of your “no cash” policy and advise your tenants of acceptable ways they can make their monthly payments, such as check, money order or direct debit. Remember to communicate this policy in your lease or rental agreement.
To ensure regular, timely rent payment, keeping your collection policies firm and consistent is the industry best practice – but there are few exceptions.
In your lease, you should address all payment related issues including the:
At one point or another you may feel sorry for a tenant falling on hard times, or simply be in too much of a hurry to charge a late fee. If you are sure that a good tenant is only experiencing a “just this once” type of issue, feel free to cut them some slack.
However, to keep them from taking advantage of your generosity in the future, be firm about your policy from then on and don’t make a habit of being lenient. Let them know that rent should always come first in regards to paying bills and that their delinquency results in costs that will be passed on to them. we suggest forgiving a late fee once, but ONLY once.
If you are so short on time that you cannot adequately collect rent or late fees, then consider hiring a reputable property manager to do this for you.
A critical part of managing a rental property is holding on to good tenants. Sometimes landlords can be so focused on preventing unwanted situations that they overlook the renters who make their job worthwhile.
If you have a tenant that always pays rent on time, abides by your rules and takes good care of your property, show them how much you appreciate them with an free cleaning or air-conditioning service once a year
A perfect opportunity to show your appreciation is after your tenants have paid a year of consecutive, timely rent payments. A rewards could also provide a wavering tenant with the motivation needed to renew their lease.
80% reader will continue read: https://www.rentguard.com.my/blog/?p=195
KUALA LUMPUR (April 18): Non-essential retailers have been instructed to remain shut during the Movement Control Order (MCO) for a total of six weeks from March 18 to April 28.Some landlords have been gracious enough to provide rent waiver or a discount to their tenants, while others are not.
KUALA LUMPUR (April 20): Malaysians in the small and medium enterprises (SMEs) segment are seen as among those vulnerable to households’ debt-servicing capacity.Continue reading “S&P: Jobs lost to Covid-19 could be slow to win back”
MCO impact on Entrepreneurship – Digital Transformation lead to sustainable growth Continue reading “RentGuard x EntreVestors – How MCO impact on Entrepreneurship”
