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 Speedrent, Guarantee Deposit Scheme (ask opinion)

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zenjet
post Aug 31 2018, 10:07 PM

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I have a unit listed on speedrent, but it was rented out.
May I know how to remove it from the listing?
I can't find a way on the site to remove it.

Thanks.
wheimeng
post Sep 3 2018, 09:18 AM

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QUOTE(zenjet @ Aug 31 2018, 10:07 PM)
I have a unit listed on speedrent, but it was rented out.
May I know how to remove it from the listing?
I can't find a way on the site to remove it.

Thanks.
*
You can remove it by downloading our mobile app or let me know your listing and I can remove it on behalf.
adrian_huen
post Oct 3 2018, 09:38 AM

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I've done the agreement however tenant couldn't make initial payment with credit or debit card
wheimeng
post Oct 6 2018, 02:16 PM

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QUOTE(adrian_huen @ Oct 3 2018, 09:38 AM)
I've done the agreement however tenant couldn't make initial payment with credit or debit card
*
I believe my team has reached out to you, please let me know if it's not.
Chris1974
post Oct 25 2018, 11:45 AM

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QUOTE(wheimeng @ Oct 6 2018, 02:16 PM)
I believe my team has reached out to you, please let me know if it's not.
*
I created a tenancy agreement with Speedrent 3 days ago and their team is providing excellent support by explaining the arrangements to the tenant. Also spoke to WM their CEO this morning and encourage him and his team to keep this service going.

I understand that this service is merely an option or an alternative to the conventional way of renting a property. Ultimately it’s our choice to decide which option suits us as landlord. It’s certainly not a perfect solution but probably a good alternative option worth considering.

Their team is currently sorting the details of the agreement and mode of payment with my prospective tenant.

Thank you very much Speedrent.

Chris
wheimeng
post Oct 25 2018, 04:26 PM

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Thanks Chris for the kind support and feedback over the call smile.gif
Chris1974
post Oct 25 2018, 11:04 PM

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QUOTE(wheimeng @ Oct 25 2018, 04:26 PM)
Thanks Chris for the kind support and feedback over the call smile.gif
*
Your team Mr Tee has been following through my tenancy agreement with all parties until almost 9.00 pm tonight.

Due to the fact that my tenant is not IT savvy, they (sisters) had difficulties in logging in to the system. So Mr Tee guided them all the way.

Since digital agreement is recognised by Malaysian law, it is really convenient for those who are IT savvy. Both parties don’t have to meet to get the agreement signed.
Chris1974
post Nov 3 2018, 12:22 AM

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QUOTE(Chris1974 @ Oct 25 2018, 11:04 PM)
Your team Mr Tee has been following through my tenancy agreement with all parties until almost 9.00 pm tonight.

Due to the fact that my tenant is not IT savvy, they (sisters) had difficulties in logging in to the system. So Mr Tee guided them all the way.

Since digital agreement is recognised by Malaysian law, it is really convenient for those who are IT savvy. Both parties don’t have to meet to get the agreement signed.
*
My Tenancy Agreement is finally completed and stamped by LHDN. Tenant paid the 2 months rental plus RM399 and within 2 days, I received my rental plus excess paid by tenant. Copy of stamped agreement also emailed to me. The Speedrent Team seems organised and efficient. Very happy with their excellent service. Really hope they will be successful and sustainable.
David_77
post Nov 3 2018, 09:01 AM

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Macam like ‘paid’ posting 🤔
Babizz
post Nov 3 2018, 09:14 AM

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my friend has a success story with Speedrent. quite good he said
HELLO HELLO
post Nov 3 2018, 03:36 PM

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Recently many bad tenant profiles in malaisiao,

if using agent to rent out your unit. quite many rent out to korean, angmo and Japanese families tenants stay in mont kiara but never pay rental up to 6 months above. Sibeh jialat lor. This actually happen in mont kiara now. Mont kiara so called expats or high kelas tenant also become low class tenant.

I think mid low cost tenant also better than them.

This post has been edited by HELLO HELLO: Nov 3 2018, 03:40 PM
leodinouknow
post Nov 3 2018, 03:44 PM

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QUOTE(HELLO HELLO @ Nov 3 2018, 04:36 PM)
Recently many bad tenant profiles in malaisiao,

if using agent to rent out your unit. quite many rent out to korean, angmo and Japanese families tenants stay in mont kiara but never pay rental up to 6 months above. Sibeh jialat lor. This actually happen in mont kiara now. Mont kiara so called expats or high kelas tenant also become low class tenant.

I think mid low cost tenant also better than them.
*
foreigner always will be foreigner. thats why didnt grant them pr or citizen
neotheone
post Nov 14 2018, 05:52 PM

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Hello all,
Lately after posting my listing in speedrent, someone called me up and claimed to be from speedrent and offer to linked me up with a tenant shown interests from the app.
And he offered to setup a WhatsApp group to facilitate me and the tenant for house viewing.
Just wondering and to verify, any speedrent users here experience the same thing?
I'm just a bit worry whether it's a fraud. Thank you!
wheimeng
post Nov 16 2018, 06:25 AM

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QUOTE(neotheone @ Nov 14 2018, 05:52 PM)
Hello all,
Lately after posting my listing in speedrent, someone called me up and claimed to be from speedrent and offer to linked me up with a tenant shown interests from the app.
And he offered to setup a WhatsApp group to facilitate me and the tenant for house viewing.
Just wondering and to verify, any speedrent users here experience the same thing?
I'm just a bit worry whether it's a fraud. Thank you!
*
Yup, we found that people respond faster through WhatsApp as it is frequently assessed app. This speeds up the process too.
Jdite
post Dec 2 2018, 06:46 PM

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QUOTE(wheimeng @ Feb 20 2018, 02:58 PM)
I would love to dispel the notion that Speedrent put landlord at disadvantage, and pro-tenant. First of all, we built Speedrent for the future.

There are 2 issues raised:

1. Insurance is a disadvantage to Landlord / We encourage defaulters with No Deposit.

First of all, Speedrent performs credit check (RAMCI / CTOS) on tenant. A tenant will be rejected when it failed to pass certain scoring. Bank uses this to approves loan, proven process, and we adopted it and applied to property rental. Currently most property rental is done on very basic screening process, we believe with credit scoring, we minimize any social prejudice and improve tenant quality for the landlords.

I'm a landlord myself, and I sometimes quietly hope that property developers offers 0% down payment buying a house like we had back in 2010. On landlord spectrum who is relatively more wealthy, yet sometimes couldn't afford to pay down payment to own another property. Tenant is on another side of economic spectrum, rental deposit is akin to landlord's down payment to own a property. So what's low to you, may be expensive for others to afford.

But on a more factual trend, the saving rates in Malaysia is extremely bad. They form the majority of your future renters, like it or not. Speedrent is bridging this gap by allowing landlord to lease houses safely in the form of insurance protection. The younger generation prioritises lifestyle to saving, so we need to acknowledge that trend is here to stay, and build solution to address the gap.

2. Speedrent takes 1 month rental, even on renewal, very disadvantageous to landlord.

Yes, on the basis that the tenant completes the entire agreement, which means to say that [/B]if the tenant terminates or default earlier than the agreed term, it's FOC for landlord, guaranteed!

I always ask landlords who asks this question:

Do you wish to rent your house quicker or keep your house idling longer? (p/s: both most probably involves cost to rent)

Speedrent vision has always been helping landlord and tenant to transact easily. It is extremely tough to get to where we are today, and a lot of determination put in by my team members.

Landlords want good tenant? We give you tenant with good credit score vs *which race/nationality are you?* 
Landlords want protection? We give you awesome insurance protection vs *2.5 months deposit, which you know when shit happens, this is nothing*

We are bringing new concept to the market. I can't expect everyone to buy into this, but the future trend says that we, the landlord need to adapt to the new new e.g., bad saving trend and property glut in the market.

Often we are blindsided by the opportunity lies ahead of us because we focus too much on what we would lose.
*
Questions: Means if the tenant doesn't fulfil 1 year tenancy, it's FOC? So can i get the 12-month rental back from Speedrent?


Who will pay for the Allianz Insurance?

A: You can choose to obtain the insurance using your last month’s rental after successfully renting out your property. If the tenant doesn’t fulfill the tenancy, consider the insurance paid by your tenant.
Note: Insurance coverage will only be provided for landlords who have completed transactions with Speedrent (rental ranging from RM800 – RM5000).

My Questions:
1. If I choose not to pay the insurance using my last month's rental, can I pay separately and how much is the premium?
2. Can I claim for damages done by tenant even if he/she fulfils the tenancy? How long is the coverage duration of the insurance?

[B]
Jdite
post Dec 3 2018, 11:10 AM

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If tenant remains in occupation after the end of term on montly basis, does the insurance still cover landlord for property damage?
wheimeng
post Dec 5 2018, 08:17 AM

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QUOTE(Jdite @ Dec 2 2018, 06:46 PM)
Questions: Means if the tenant doesn't fulfil 1 year tenancy, it's FOC? So can i get the 12-month rental back from Speedrent?
Who will pay for the Allianz Insurance?

A: You can choose to obtain the insurance using your last month’s rental after successfully renting out your property. If the tenant doesn’t fulfill the tenancy, consider the insurance paid by your tenant.
Note: Insurance coverage will only be provided for landlords who have completed transactions with Speedrent (rental ranging from RM800 – RM5000).

My Questions:
1. If I choose not to pay the insurance using my last month's rental, can I pay separately and how much is the premium?
2. Can I claim for damages done by tenant even if he/she fulfils the tenancy? How long is the coverage duration of the insurance?

[B]
*
1. The 12th month is used 100% for insurance.
2. Yes, you can, and file within 2 weeks upon tenancy lapse.
lianazaman
post Jan 13 2019, 03:06 PM

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Hey, just found out about Speedrent form a friend, and is currently trying out to rent a place. Awesome by the way, an excellent alternative as I do have previous bad experiences with 'agents'.

Still, a suggestion, since we tenants pay to Speedrent: Speedrent eWallet

Use:
Tenant deposit an amount of money from time to time, which will be used to pay for the upcoming rent due. It also has a feature in which a warning notification via app or an email will be sent if the eWallet still do not reach the required amount and due within five days.

Benefits:
Rather than lump sum / having to cut a large amount from banking or credit card, tenant can make sure they reach the due rent money by adding from time to time, for example when they get extra side income. They won't need to worry of having to put it aside mentally or physically first before the sum being cut from their credit card or account bank, which may have the risk being used or cut from account nearing or on the day the debiting / crediting will be done (and even credit cards have the risk of being used over the limit amount, causing problems to credit).

This also attracts those who do have nor want to apply credit cards (to avoid the 15% interest rate and cause further unnecessary expenses), as the Speedrent eWallet can also be topped up through Online Banking.

Kind of like this:
user posted image
Babizz
post Jan 23 2019, 07:36 AM

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The platform is very weak. my listing needs to be reupdated daily to ensure that it remains there and customer service isnt doing anything to solve long standing issues.
GaiaIX
post Mar 16 2019, 02:00 PM

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I'm new to Speedrent and trying to get some help from customer service regarding my property listing. I left some question via chat in apps yesterday and til now still no one respond to me. Is there any other way I could reach Speedrent customer support faster?

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