Hi,

I have bought a house from a vendor in Cheras and most probably will get the key on next week.
The vendor(previous owner) would like to rent the house from me for 2-3 mths due to his new house is doing renovation.

The problem is the house rental. According to the property agent , she said the market price for the house rental is RM800.
Now, the previous owner would like to rent the house from us, then the rental is half of the market price , which is only RM400.
Got such a "rules" ???

I need some advise from some expert here. Thanks

there is no such rules for me..since u already buy it so it is yours..he cannot disturb ur property like that..

Yeah, i called my lawyer( actually we shared the same lawywe ), she also tell me the same thing.
She said " If he wants to rent the house from you, the it is 1/2 of the market price, which it their practice, but it is not a "offical law" in the agreement , but it is depends on you and him".

I am worried about this . If I insist to get RM800 per month from him , then I worried he will purposely make the house dirty, or scratch the kitchen cabinet or wardrobe.

This post has been edited by c26: Aug 30 2009, 07:56 PM

hahah..this is scary man..this is one of many disadvantages of sharing the same lawyer.

why would you want to rent it to him? Just say NO, problem solved.

what YOU say in this matter is "The Rule"

Was there a special tenancy agreement clause in your S&P agreement that mentioned about this? If no, then it is better to seperate the house purchase agreement and rental agreement.

Frankly it is not your problem if he needs YOUR house at moment. If the S&P is the only binding contract, the punishment for him staying overstaying is very high.

If the owner wants to stay in your house, you have to find yourself another lawyer and draft out a tenancy agreement.

I'm not planning to move in soon. So, i was thinking of renting the house to the previous owner, better than other ppl that I dont know him/her.
The house's condition is very good. Tats y if i let it to the owner, maybe he'll take care the house.

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Added on August 31, 2009, 12:28 amNope. There is no written tenancy agreement clause in my S&P agreement. Yeah, i knew that if bank already payl the settlement , he must give me the house key in 3 days, if not, he will be punished.

I think you are right, better find another lawyer and draft the tenancy agreement. Coz i feel like the property agent and the lawyer are standing on his side.

This post has been edited by c26: Aug 31 2009, 12:28 AM

Rm400 per month for 3 months = RM1.2k. Is it worth all the trouble? Do you really really know the previous owner since he/she is trying to scam you by telling you its "market price" to pay half the rent.

do u think he will take care of the house?
hell..he already knows it is not their house..not anymore..he is the same as other people who gonna rent ur house..maybe u can give Rm200 less from market rent and it is on ur own "belas kasihan"..he sell the house at market price to u rite..no less rite?they why should ?

try ask other house around the place how much the rent..

This post has been edited by serigala: Aug 31 2009, 08:46 AM

Just chase him out.

You don't have to be nice to everybody.

dun think there is such rules.. mayb u can offer a reasonable price.. if damages r done to the house.. he will hav to pay for it.. i think there is a warranty period of 30days even after he had shifted out the hse.. i might be wrong.. pls do sum askin around..

@TS
you should at least take photos of the place just in case.

you could say no to him outright but it is a gamble which you have to be prepared, i know cause last time when i was chasing the previous owner out he stripped the whole house empty. he took the aircon, ceiling fans, wall lights, furniture, everything that is removable...

i chose to not rent it out to him was because of the tendency of previous owner to think "hey, this is MY house, why should i be paying this new guy the rent to live in MY own property". then he will delay his payment or not pay at all. you get the drift.

it is your choice TS but to rent him at full price of 800rm is still kind of a gamble as you are not going by what he wants. i would say either give him what he wants (400rm) or chase him out immediately.

2cents

Make your life and investment simple.

Go for vacant possession.

Unless you intentionally buy it for investment..but definately not for 3 months tenant.

Bro, short term rental is not very profitable for you. Your lawyer is talking rubbish and trying to screw you. You basically have the advantage here in regards to the renting or not. You should actually think of asking RM1k/month at least as this is a short term rental. The previous owner's got nowhere to go at present...its definitely not easy to find a place to rent at such short notice and for a short term! And if he stays in a hotel, where is he going to put all his furniture? So you see, within limits, you have him by the "balls" so to speak!


cheers,
minolta

This post has been edited by Minolta: Aug 31 2009, 07:36 PM

yeah, very agree with you. I also think of rent the house to him with market value only and never ask for more. Coz I'm not planning to move in soon and can take the rental to cover my monthly installment

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Added on September 1, 2009, 12:00 amYeah, 3 mths only get RM1200, very little. My monthly installment also more than this amount. I have double confirmed with what he told me, I called the property agent, she said "yes, normally is pay half of the market value only"

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Added on September 1, 2009, 12:04 amYeah, there is no such rules. This is what the property agent said , this is " their practice"
Warranty period of 30 days?? I think i need to check with my lawyer. Thanks for reminding me.

This post has been edited by c26: Sep 1 2009, 12:04 AM

in ur case, i dun feel like want to rent to the guy, later he damaged your house. very high risk.

Yes, I took those kitchen cabinet, wardrobe pictures only, But he told me he wont give me the air-cond. But he will leave the wall lights, ceiling fans, alarm system and autogate to me.

Anyway, i will try to discuss with him nex week. Maybe he is influenced by the property agent.

seriously, If I were you, i'll forget it and if you really want to rent it out, find a genuine tenant.

Forget what the property agent, lawyer and the previous owner said, there is not such rule as "Half the market value".

I presume the property agent you are referring to is the previous owner's agent? Dont you see some similarities here? Lawyer, agent and previous owner?

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Added on September 1, 2009, 12:11 amAll these item should be stated in your S&P. Whatever its in the document , you are the new owner of those item. He cant take them back.

This post has been edited by aramis888: Sep 1 2009, 12:11 AM

tell him nicely that you need to move in urgently cause you cant afford paying rental and house loan. tell him you are paying rm1000 for you current rent.

this is the most diplomatic way. if he ask your help, tell him you are forking rm1000 for current rental, if he is sincere he will pay rm900 and ask your help to top the rm100 your self.

no point you show s&p, lawyer talk etc etc cause your new home is at his mercy at moment.

win win

This post has been edited by chamelion: Sep 1 2009, 12:13 AM