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 Tenancy agreement questions

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TSreehdus
post Jan 15 2016, 07:33 PM, updated 10y ago

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Hi all,

I'm recently renting an apartment from a property owner here in Penang, and I went through an agent to get the property. Would just like to ask regarding a few fees which I had some doubts. For the agreement stamping fee (~rm100+) and agent fee (~5% of rent + GST), is it normal for tenant to have to pay these? I thought it was borne by the landlord?
doinkboy
post Jan 15 2016, 07:36 PM

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Hi all,

I'm recently renting an apartment from a property owner here in Penang, and I went through an agent to get the property. Would just like to ask regarding a few fees which I had some doubts. For the agreement stamping fee (~rm100+) and agent fee (~5% of rent + GST), is it normal for tenant to have to pay these? I thought it was borne by the landlord?


Stamping fee u can pay or if u got time can save money actually stamping very cheap.

Agent fee is normally borned by landlord but if tenant agree to pay, sometimes will have tenant and landlord pay. Be smart and ask for landlord to pay
Renee
post Jan 15 2016, 07:41 PM

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Agreement, u ask agent ready a copy for you and u go to LHDN to do stamping, few years back the charge was RM20.00, now not sure.

Never heard of agent fee before, normally 1st month rental go to agent, and this is their commission. Maybe your agent want to earn extra from you as u know property market really die hard now, all agent showing their real face and dirty trick.
shaniandras2787
post Jan 16 2016, 12:03 AM

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QUOTE(reehdus @ Jan 15 2016, 07:33 PM)
Hi all,

I'm recently renting an apartment from a property owner here in Penang, and I went through an agent to get the property. Would just like to ask regarding a few fees which I had some doubts. For the agreement stamping fee (~rm100+) and agent fee (~5% of rent + GST), is it normal for tenant to have to pay these? I thought it was borne by the landlord?
*
There is a formula to calculate the stamping fees for the tenancy agreement.

[Monthly Rental x 12 - 2400]
________________________
250


il0ve51
post Jan 16 2016, 12:07 AM

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QUOTE(shaniandras2787 @ Jan 16 2016, 01:03 AM)
There is a formula to calculate the stamping fees for the tenancy agreement.

[Monthly Rental x 12 - 2400]
________________________
              250
*
why must minus 2400? how to get 250?
TSreehdus
post Jan 16 2016, 12:11 AM

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QUOTE(shaniandras2787 @ Jan 16 2016, 12:03 AM)
There is a formula to calculate the stamping fees for the tenancy agreement.

[Monthly Rental x 12 - 2400]
________________________
              250
*
I think I have seen this somewhere online before also...thanks!
shaniandras2787
post Jan 18 2016, 10:22 AM

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QUOTE(il0ve51 @ Jan 16 2016, 12:07 AM)
why must minus 2400? how to get 250?
*
the RM2,400.00 is the sum exempted from stamp duty per annum.

the RM250.00 is the sum where stamp duty is chargeable.

 

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