I think the guaranteed deposit scheme is a good idea but maybe only effective for niche market(i.e. expat who dont mind to pay 10% extra) and malaysian market would be too small, the mainstream market is hard to absorb this. Anyway perhaps speedrent will come out with more features? Nevertheless the deposit scheme got their ball rolling, at least some of us are discussing about it on LYN.

You can employ both methods.

I use both agents and speedrent, Whoever can get me the tenant first will close the deal. Especially in this difficult time, you need more channels to solicit tenants.

You are right about the filtering. I have come across African contacted me via Speedrent, his intention is more on money laundering rather than my properties. A few questions ask can easily filter out these fake tenants.

Some people still prefer to deal with agent, as got personal service, personal touch, no need to prepare tenancy agreement and go to stamp the tenancy agreement by yourself.

only owners can advertise, agents cannot.

If you advertise more than 2 properties at a time, you will get a call from Speedrent, as they may suspect you are the agents.
Similarly, if any prospect tenant sends in any enquiries for properties in the different areas, say Semenyih, Klang, Rawang at one time, then it is suspicious...Speedrent will also filter them out.

I think Speedrent is doing the good jobs in filtering.

How speedrent filter multiple fake/dupe owner accounts?

How speedrent filter multiple fake/dupe owner accounts?

one registrant one handphone number.
if one handphone number sending to multiple landlords in different areas, speedrent can detect it. I guess.

I was told :-

I) only for Malaysian renters

2) only for rental 3k a month and below.

I have also tried speedrent for a few months but don't really get quality enquiries..
mainly tenants asking for lowball rental ..

Am not really convinced that not asking for deposit is the way to go for now..well let speedrent do a trial run
of sorts and see how it goes..time will tell

im not sure whether can this method below implemented by speedrent to minimize or probably eliminate the risk of having tenant "run road" by

charging the tenant whole year or 2 year rental fee and offer 0% IPP/EPP payment for 12 months of 24 months depending on their tenancy agreement.

by doing this, the tenant will have no chance to cancel their credit card as the limit has already block the card for this fix duration until they settle the payment

can this be done?

I noticed that landlord tends to put high rental price in speedrent, and tenants asking for lower rental in return. This is where agent play a role to balance up and close deal for both side.

don think it can work.
if said rental 2k/ month for 1 year. it will be 24k for one transaction. 2 year will be 48k.
How many tenant will have credit limit more than 25k-50k

I as tenant would definitely not going for this deal. what benefit i get? lower rental price down by 20%-30%?

in my condo, there is a agent provide a service to the owner charge about 3% of the rental to help owner to collect rental.
if the agent did not receive rental at 5th, he will ask the management to bar and stop the water of that unit.

for me, it is ok for me with this service with 3% rental charge. may be speedrent can come up something similar.

in exchange of not having pay 2 months depo and 1 month utility.

Speedrent makes it compulsory to offer 50% discount on the first-month rental.
So it will lower down the monthly average rental. Speedrent creates a platform for negotiation. Ppl can fix appointment and meet up for negotiation.

For partially or fully furnished unit, landlord prefers and ready to negotiate after showing the unit to the prospect tenants. Tenants must show their interest in the units first before nego.

This platform will be popular among West African tenants, they could avoid higher than market rate rental asked by most landlord.

foreigners usually have to pay higher rental

That one I agree. Not many quality enquiries from speedrent.
I have one funny request from Speedrent's prospect. The prospect asked me my unit's facing direction as she believes in Fengshui. She can only accept the unit facing North East and 35 degrees more to East, which is not easy to find for condo. If we go thru the agents, they can help to filter out such enquiries.

Having said that, some agents also not doing their job such as the following situation.

(1) You advertise your ff unit for RM2500, the tenant budget is only RM2000. But agent still brings the tenant in, by hoping the tenant can increase the budget to RM2500. But the tenant insists in RM2000 budget, so it is still a no deal, and waste of time.

(2) Tenant view property in February, but only want to move in in the month of June. I call the tenant "wan kat" as no landlord will leave the property empty for 4 months in order to rent to the tenant. So the agent is not doing his job filtering the tenant, and wasting the landlord's time to open the door.

quite possible, landlord and tenant pakat, generate cashflow

this only invites higher risk tenants to find a way to game the system, either the landlord or speedrent or both will lose

can i know that in speedrent, the potential tenant can contact landlord thru chatting or email?

Wat the difference, my experience agent still keep intro African tenant even i told them in early i only wan local tenant. Agent just hantam only and wanna close the deal.