I'm sorry I haven't been able to convince you. And this is a forum where it is open for opinion and debate, and I admittedly said deposit has its pros, so is insurance. For further transparency.

Stats:
50th percentile - all claims* taken care by Basic package.
~85th percentile - all claims* can be taken care of with Extended package.
* means the submitted claim vs approved claim = 100% match.

Remaining 2% - Allianz approved less, we pay from our pocket to subsidize when we think it is reasonable for landlord to claim it.

We do what's right and fair, I'm a landlord as well, so I know the pain. And where ever Allianz didn't payout as much as landlord expected but we thought that it warrant assistance we subsidize, most if not all landlords were satisfied with the outcome. And those we subsidise is in excess of 2% sample size stated. So in other words, we will make sure landlord is better protected, and certainly making sure it has a better outcome than taking deposit. 

So you can choose to bombard on our extreme cases, which is super rare. When extreme cases happen to you when you take deposit, I'm absolutely 100% sure without a doubt that you will be better off with insurance. One way or another, Allianz or SPEEDHOME will make it right to you because we are here to protect both landlord and tenant.

Honestly, your argument is weak. Your wear&tear samples are unreasonable as well.

If a landlord is taking the conventional way of getting 2.5months of deposit, I am sure extreme cases are super rare too and hence insurance is not necessarily needed.

Also, your argument of the figures was not supported by any evidence.

My personal experience.. The deposit will not help if you encounter problematic tenants. There are professional tenants out there. Hopefully when tenant act come in, all these can be weed out.

If refer to extreme scenario for both.

Hehe... perhaps we should appoint an auditor to audit this figure?

I think we will do just that. I'll ask my finance to ask the auditor to do this special audit. I hope by the time we release the report, there won't be comments on "oh this is not from PwC, Deloitte, E&Y...". I'm all ready to prove that.

Like I said, the insurance is certainly better than the 2.5 months deposit. It's not even comparable, only it's furnishing documents that's a little leceh, but as mentioned too, 60% of claims approved within 5 business days. 96% within 15 business days.

It depends on what is stated in the contract. Take all the pictures of your whole house. If the damages incurred more than the deposit amount, you can file the case to the court to claim from him. And also viral the case online so no one will rent to him anymore.

It depends on what is stated in the contract. Take all the pictures of your whole house. If the damages incurred more than the deposit amount, you can file the case to the court to claim from him. And also viral the case online so no one will rent to him anymore.

I'm sorry I haven't been able to convince you. And this is a forum where it is open for opinion and debate, and I admittedly said deposit has its pros, so is insurance. For further transparency.

Stats:
50th percentile - all claims* taken care by Basic package.
~85th percentile - all claims* can be taken care of with Extended package.
* means the submitted claim vs approved claim = 100% match.

Remaining 2% - Allianz approved less, we pay from our pocket to subsidize when we think it is reasonable for landlord to claim it.

We do what's right and fair, I'm a landlord as well, so I know the pain. And where ever Allianz didn't payout as much as landlord expected but we thought that it warrant assistance we subsidize, most if not all landlords were satisfied with the outcome. And those we subsidise is in excess of 2% sample size stated. So in other words, we will make sure landlord is better protected, and certainly making sure it has a better outcome than taking deposit. 

So you can choose to bombard on our extreme cases, which is super rare. When extreme cases happen to you when you take deposit, I'm absolutely 100% sure without a doubt that you will be better off with insurance. One way or another, Allianz or SPEEDHOME will make it right to you because we are here to protect both landlord and tenant.

Good luck bro. Unless your losses is running to more than rm50k, otherwise it is good money chasing bad money.

But I will applause you for the principle seeking justice.

Just to share with u, wear n tear is hard to justify in the event u wanna price it to go thru legal way to make a claim fr ur tenant.

Small amount is oso hardly worth the time n effort to file to court. If the amount is huge tat can reach the 50k bankruptcy threshold then I blif the deposit part is not a small amount to begin with.

Anw there isn't any number given in ur above post so I'm just sharing my experience. Dun mind me as I'm alwiz wrong wan 🤭☺️😉

The majority of the people are lazy and ignorant of the law. Still, by getting a 2.5months deposit and a good contract, the likelihood that he will damage your property is not high.
No such thing as hard to justify. If the bed frame is broken, it definitely will minus from the deposit. You check everything before signing the contract. Inside the contract have listed down the prices and everything.

Not worth your time and effort then that's your problem, not my problem what. I am telling you the better way of claiming damages from your tenant for extreme cases. If you lazy what to do? It's still better than the CEO giving you all sorts of figures but in fact, never supported by any evidence right?

If you look at Wild card case, he had wasted months on the CEO and finally only received the money for damage control.  Somemore have to wait for the adjuster to come and in the meantime, you cannot rent out your house.

simple je bang... u already so in doubt with this service already... just move on with the conventional renting method je... so far i always collect 3 months deposit from my tenants... I'm sure its workable anyway despite what everyone mentioned about the market... its just mean that speedrent is not meant for everybody je... all these arguments with the CEO are not reducing your doubts anyhow... haha

Allianz approved the claim yesterday around 4pm. Today we will disburse it to you.

The majority of the people are lazy and ignorant of the law. Still, by getting a 2.5months deposit and a good contract, the likelihood that he will damage your property is not high.
No such thing as hard to justify. If the bed frame is broken, it definitely will minus from the deposit. You check everything before signing the contract. Inside the contract have listed down the prices and everything.

Not worth your time and effort then that's your problem, not my problem what. I am telling you the better way of claiming damages from your tenant for extreme cases. If you lazy what to do? It's still better than the CEO giving you all sorts of figures but in fact, never supported by any evidence right?

If you look at Wild card case, he had wasted months on the CEO and finally only received the money for damage control.  Somemore have to wait for the adjuster to come and in the meantime, you cannot rent out your house.

simple je bang... u already so in doubt with this service already... just move on with the conventional renting method je... so far i always collect 3 months deposit from my tenants... I'm sure its workable anyway despite what everyone mentioned about the market... its just mean that speedrent is not meant for everybody je... all these arguments with the CEO are not reducing your doubts anyhow... haha

Speedrent charge 1.5 multiplier for 6 months stay, this is much too high

oh they increased the commission??? mine was only 1 month rental last 2 yrs

nope coz managed to find tenant myself

Speedrent charge 1.5 multiplier for 6 months stay, this is much too high

This is for the tenant to pay, not landlord.