+1

Very professional approach.

Nope as per my email, I said I do not much care anymore about how the turnout will be. I am just trying to shed light of how the situation is different for me between SpeedRent's assurances vs what I am facing. I want to warn others of the situation that they may find themselves in. Your company have asked for so many things from us, including having us arrange time for the adjuster to visit, yet, 56 days since the time the tenant has left and we are still in the red.

The realities are, people should know that by using SpeedRent, you effectively give your power away from the homeowner to the adjuster. The peace-of-mind that the clients were promised were not granted at all. We are now 56 days since the tenants left and we have yet to be reimbursed for the damages. We are now at the mercy of the insurance adjuster. If I had taken the deposit in the first place we would now have recouped our losses and proceeded with finding a new tenant. But as it is, we are still waiting.

Imagine this, the process of claims require:

1. our documentation and write up which would take a long time from our end (description of the damages, condition, repairability, etc.)
2. Speedrent team to do their work on their end which is a few more days
3. Speedrent team will ask for further documents, which may involve filing a police report, which will further take more of your time
4. Adjusters to drop by which you need to arrange a time with, perhaps a weekend (like us) which will further extend the time of the claims process. The adjuster dropped by on 28th December. That is 26 days away from today
5. Speedrent to inform me about the adjuster finishing their report, the 14-days starts here, which SpeedRent boss claimed to be 16th January So not only I have to wait 14-days from the decision, I would also need to wait them to finish their reports!
6. Today the adjusters are further asking for documents which we have either given.

The 14-days thing is nonsense. It is used by the SpeedRent boss to make me look silly. The whole process can be up to two-months as per what I have experienced. Do you want to live through this nightmare as a homeowner?

The short claim period sold to us sounded too good to be true, they were unrealistic. We are 56 days away since the tenant left, and 26 days since adjusters came, and we still haven't been reimbursed.

We are expected to do our own work and all those things will take a reasonable amount of our own time as we are busy as it is. When your house is damaged to the level ours have had, the amount of paper work that we had to do just to make the claim was insurmountable, and the return (results of the claims)? Still pending almost two months into it. The problem is that SpeedRent makes it sound as it was so simple.

I do not care so much about the outcome, because in the event of lower than realistic claims, you can wash your hands by claiming that the decisions was up to the adjusters. I just want to shed light to how badly your services are run from my perspective as your customer, and that users should expect that in some cases it would be much better to take control of the situation by simply taking the usual 2.5 months deposit.

Don't be like me, where 56 days into the process, and Speedrent is still asking for more documents. If I had taken the deposits, I could already have forfeited them due to the damages done and start finding new tenants immediately.

I hope you do not strong arm your way into the discussion and to get off that high horse you are on. While this customer of yours is airing his gripe, your telling him that you "would not bow to pressure" is just trying to be defensive - you are trying to victim blame, as if I was unreasonable for asking a compensation in due time, a feature that is in your forefront of your marketing - renting out our place with a peace of mind! I do not care much now of what the results are, it is beyond you anyway since it is up to the adjuster. But your company and the staff leaves a lot to be desired.

And I, as someone who have experienced your company's below par levels of services is sharing it out in the open for the benefit of homeowners alike

Here's proof that we do not care anymore. We are so tired of the your inefficiencies, incompetence, and the CEO who acts passive-aggressively at their aggrieved customers as we are made to wait longer than reasonable time period for our claims, despite all your promises. You company have wasted so much of our time after demanding documents upon documents. I do not care anymore about the claims, all I want is for people to know about your company's ethics and levels of service: which is below par - and that is coming from your very own customer.


If you are on my end of the stick, you would not think that their approaches are professional at all. Can you imagine that SpeedRent staff actually said "Sorry for the delays in returning your email, I had an emergency leave"

That's your problem, you didn't even need to mention it to me

This post has been edited by wild_card_my: Jan 24 2020, 12:40 AM

Wild_card_my

In such event of above, some unscrupulous tenants may not even paying rental of last two months rental. And giving you plenty of runaround. Yes deposit will give landlord piece of mind but based on my experience, when you are dealing with tenant from hell, the deposit may not even help.

However with insurance, if it is valid, they will need to pay out and obviously more paperwork and time consumed. Maybe speedrent could cut some red tape for example once adjuster come for inspection, the landlord is free to repair and rent out the property instead of waiting for compensation.

Wow.....Serious MisAdventure Assurances.
It sucks when Insurance might not even want to approve the costly repair.

Any photos to show the damages and on why Allianze are dragging their feet?

I have all the before and after photos, as per their requests in their many rounds of request for documents - it was never so simple to make the claim. I will only post one set of pictures, which depict damages to my leather three-seater recliner sofa before-and-after pictures; after looking at these photos, can you imagine why I am a little pissed off with:

a. Allianz for their relentless delays in approving the claims
b. SpeedRent CEO for personally blaming me, the victim and the aggrieved party for voicing out my dissatisfaction after 56 days of on-going wait for my claims

Before the unit was rented out to the tenant that was sourced and filtered by SpeedRent


After


The CEO is claiming that I am pressuring him so he would bow to my wishes - that is a false accusation - as if the compensation amount was up to him. As far as I was led to understand, the issue is now up to Allianz and not him. Whatever it is, I have given up with this company, their promises and their claims process - Allianz can compensate me however they want.

Weirdly though, after 56-days since the tenant have moved out, after posting a few updates of my experiences through the process, today they finally (not sure if it was coincidental) messaged me that it was at its final stages. But I have two issues with their communication:

1. The email sent from SpeedRent was timestamped at 3:55PM, while my post that drew the attention of the CEO was posted at 1:10PM. So did SpeedRent only start pushing my case forward after I made a public complaint? The same person from SpeedRent have been messaging me over and over again over the course of these few weeks, informing that they are "working on it", while asking me to wait while showing ZERO progress. Only after today, just 3 hours after my post above were progresses made? I can only speculate, but I have proof of the email of our exchanges

2. Uncertainty of the claims. Allianz is now asking for purchase receipts/invoice of the damaged items. First of all, how many of you guys keep the receipt of your purchases of the items in your properties? Some of you perhaps do, kudos to you, but we have not. But my qualm was on why didn't SpeedRent highlight this upfront? That "In the event of damages to your properties, Allianz may calculate the valuation of your damages on their own terms if you are unable to provide proof of purchase". If SpeedRent had mentioned this earlier, if they were upfront and transparent about it, we would be hesitant to use SpeedRent, and would simply take the deposits.

Remember, when you use SpeedRent, you are giving away your power to keep the deposit for the damages to the insurance company, Allianz. They decide the damages that you have incurred. Now that I am facing this issue, I would like you guys to be aware of this practice by SpeedRent too - they seemed to promise the moon and the stars, but when it comes to complaints, the CEO started to sound aggressive, proudly claiming that he will not "bow down to your pressure".

I am not pressuring you mate, I am simply tired of this, of the process, of the company and the insurance company. You have played your cards, and now I will play mine. I am not asking for compensation of any kind, I just want to shed the light in how unprofessional your company can be when we need you the most - when we are making the claims, something you proudly market as a means to a "peace of mind" rental process/practice. I am telling you now, there is nothing peaceful about your company and yourself - in fact I am feeling a little threatened with your last post. Keep in mind that I am not trying to defame you nor can this be proven as one as I am not lying and all of these can be proven. All email exchanges show that the company have a lot to be desired.

I made a public complain at 1:10PM; suddenly after weeks of waiting, they magically managed to get my claim process progress a little by 4PM. Were they even working on it in the past few weeks?


SpeedRent: thank you for waiting! Thank you for waiting! Thank you for waiting!


This post has been edited by wild_card_my: Jan 23 2020, 11:31 PM

If you have been following my posts, you would agree that the timeline is ridiculous

1. 28th December the adjuster came
2. 16th January was the date I was "explained to" about the adjuster situation. Please wait 14-days from this point? What have the adjusters been doing in the past 19 days?
3. 23rd January and I got scolded by the CEO for airing my grievances

After I get my repair bills, i would still need about a month to fix the place, then another month for viewing, i am looking at about 4 months worth of no rental income. Might as well be sure fire about the deposits and forfeit them.

At this point, you do not even know if Allianz is going to give me a payout.

Funny that you had to say this. As it is now, Allianz and SpeedRent are the ones that are giving me the runaround.

So you would label their delays as "red tapes" when these two companies are making my life difficult, but in turn describe it as "run around" if they were bad tenants? If I was a betting man, I would put my money on that you are related to either of these companies. If you are, please disclose your relationship to either parties before commenting any further.

This post has been edited by wild_card_my: Jan 23 2020, 11:00 PM

Judging from the damages...
It seem a cat or cats or maybe dog use that as scratching TOTEM.

Which is beyond my control. The tenants know that they are not supposed to rear pets in the unit; and keep in mind that the tenants were referred to and filtered by SpeedRent themselves. Yet instead of helping me I get accused of pressuring the company by the CEO.

It has been 2 months, claims are unlikely to be processed in the next few days due to the holiday season. I have given up. I just want people to know the truth about using SpeedRent. They make it sound as if claims were easy, but it turns out to be very difficult, the company is less than accommodating, and I am not feeling the "peace of mind" at all.

You all should know this, it could happen to you. I am not defaming anyone, because this is happening to me, and I'd hate it if I do not warn others about it.

This post has been edited by wild_card_my: Jan 23 2020, 11:09 PM

Look like it only good if no Exhorbited Claim....although it is definitely Not your fault.
Thanks for the head up on this SpeedHome ...Speed Rent Agency...
Will definitely forward to my Whatapps group who happen to have more than one house..properties....hahaha
For their sake lah.

Which is really my intention. To shed light to the whole situation and for the public to be aware of what you are getting into. Below is the proof that we do not care anymore about the results of the claims. We are so tired of SpeedRent's inefficiencies, incompetence, and the CEO who acts passive-aggressively at their aggrieved customers that are made to wait longer than reasonable time period for our claims, despite all their promises. SpeedRent and/or Allianz have wasted so much of our time, demanding documents upon documents, demanding so much of our time and energy for the claims process, of which we would have been done with the deposit forfeiture had we taken the conventional deposit-taking route instead. I do not care anymore about the claim results anymore, all I want is for people to know about SpeedRent's ethics and levels of services: which is below par - and that is coming from their very own customer.



If you listen to the company sell themselves, you will hear positive-only comments and self-compliments; such as the RM800,000 paid out sum assured; which isn't that much pun, my BMW 3 series is RM240k, if you crash and total four of them the total claims from the insurance company would already be RM1,000,000

btw what is "exhorbited" (exhibited?) claims? I may be a little behind with my glossaries

This post has been edited by wild_card_my: Jan 24 2020, 12:49 AM

Thank you for this, a very good idea. As a matter of fact, we have started preparing our claims transparency report to better educate what is claimable and what is not so that everyone has a better understanding and prevent people from trying to take advantage of insurance. We will also show median of insurance claim vs shortfall of the approved claim amount.

For example, we have got only ONE case submitting for RM30k damage claim, maxing out the ceiling limit of insurance. When a case is this unusual, a lot more scrutiny would take place. It sounds like a total loss for a RM30k claim but it wasn't.

I hope everyone is sensible about filing claims.

I wish everyone a happy and joyful 2020, Gong Xi Fa Cai!

The claims were made totally according to the instructions by SpeedRent, including all the paperwork, photos, and police report. For example SpeedRent asked us to provide online photos and snapshot of the item in the online marketplace which we did, of the same-description item (for example, a 32" tv) including the price of the item. All these items we found online are of current prices as SpeedRent claims that they can substitute the historical invoices which not every one keeps.

SpeedRent was NEVER clear from the get-go about the documents required for the claims to be made. In their marketing they kept talking about the "peace of mind" as if the claims process were going to be super easy. The realities are not, you would need do so many things including providing documents that you may or may not have at the point of the claims. Why didn't SpeedRent mention this when they were courting for our business? Why didn't they mention the process and difficulty of the claims from inception? That would have been useful for us when deciding between using the conventional route(deposit taking) vs using SpeedRent.

We did exactly as instructed by SpeedRent, and they even sent the adjuster to take the photos and write a report about the damages.

And 57 days now and they are still dragging their feet, even their CEO is engaging their own customers passive-agressively suggesting that their customers are taking advantage of the insurance. What do you mean take advantage btw? The insurance was bought through your agency, and now we are trying to make a claim as per your instructions and we are labelled as the bad guy by the CEO?

Ok. Be careful guys, just lie still, don't fight for your rights as a SpeedRent customer and let him do whatever to you unless you want to be chided by the CEO

Happy holidays you all

This post has been edited by wild_card_my: Jan 24 2020, 01:51 PM

Bro, only can tell you it's too good to be true. If nothing is stated clearly in the contract, don't expect that you will get the compensation from them. Even they claimed to compensate 800k I am not sure oo.

Getting insured from the insurance company for house rental already quite illogical because it's very hard to prove that the items had been damaged maliciously by the tenants. If so easy, then you also can break the furniture and then make a claim. Sound silly right? There is no way to prove, bro.

By the way, after your tenant had left the house, I thought speedhome will continue to pay you rental for the next 2 months as stated on the first page of this thread? Or they changed policy already?

I am tired of SpeedRent. Now that CEO was being passive-aggressive towards me, I just want the whole thing to be over

Got another email from SpeedRent apologizing for the delays from the insurance company.

I followed most of their guidance and instructions and i am 2 months from the day the tenants have left, and I have yet to be reimbursed

You all are better off just collecting the deposits, unless you enjoy having the CEO expose a bit of your case file out in the open (the RM30k claims that he mentioned above) and fighting against the insurance company

If I am not mistaken SpeedRent is just an insurance agency. Now that I need them the most, instead of helping me they chide me for "making the claims"

All I have to say is: be careful, if possible don't surrender your landlord-powers to SpeedRent CEO and Allianz. Just collect your deposit instead

May i know what is the on time rental guarantee from the speedhome extended plus insurance .

You will get your rental on time, even if the tenant pays late, SPEEDHOME will foot the rental.

That claim figure was released by Allianz. It's not released by us.

Generally, there is fraud prevention in place, although not bulletproof, it is good enough to detect most. Illogical to insure house rental is akin to say why don't we get our car into total loss and claim the whole car again? Why don't we burn the house down and claim for fire insurance?

There are frauds in burning furniture storeroom, car workshop tries to create a car accident. But in general - how often these happen, and there is a process in place to check and balance for this.

My team is still supporting Faiz on his claim, and as he mentioned, it's RM30k. I don't know how much of it would be approved or not, but I've told my team to work closely with Allianz. So let's see what comes out of it.

Personally, I would like Allianz to reimburse as much as possible because after all if Faiz deserves it, Allianz will pay for it - period.

This post has been edited by wheimeng: Feb 4 2020, 08:20 AM

Speedhome, just would like to know whether you filter your tenant before viewing? I have viewing request, when the tenant arrives for viewing, she is the airbnb/short term stays operator, she is not interested to rent. She is looking for apartment to work with the owner for their short term stay business based on profit share. It is a waste of my time. Please filter airbnb/short term stays operator out from the platform

30K can tell us what is claim list

We ask for basic information, and Operators normally won't disclose their intention to us, same goes to agent who trying to get owner data from our platform.

We can screen tenant on their financial background once both parties agree to proceed.

Intention is hard to screen if you know what I mean. Nevertheless, I apologise for inconveniences, likewise, you can utilise our homerunner service for free. We will do the house showing on behalf.