Landlord portion of paying premium is prorated according to the tenure. So if the tenant wants to rent 6 months, the landlord only pays for 50% of the premium. The surcharge to the tenant is to pay for the remaining of the insurance premium.

In other words, landlord get 1 year insurance for half of the cost as the tenant bears the other half.

After 6 months, landlord can either request the insurance to be canceled and get a refund or continue to use SPEEDHOME to find another tenant for free for the remaining insurance period.

Confirmation please, for tenant to move in they need to pay 1st month rental plus TA fee-1st month rental will be remit to landlord or retain as part of insurance premium?

It shall retain as part of insurance premium.

may i know how much is the premium?
I would like to rent out room by room in this case.
mind to share?

I thought speedrent charges the same amount as estate agent, ie 1 month to 1 year. So when they gave the 3 plans, i just chose the 3rd plan which seems to give better discount but did not reflect how much they going to deduct for first month and how much they will deduct for 2nd month. My rental is RM2500, and I get RM800plus and was told will only get that for 2nd month too, full amount only 3rd month and above!!! My stupid mistake for not clarifying first. I suggest you go only with speed rent if you don't really trust the tenant. Otherwise, better you go through estate agent and vet tenants yourself. Better to have it the old fashioned way and have 2.5 months in hand. If they go beyond 1 year, you would have recuperate that 1 month as opposed to speedrent where every year you have to buy insurance. Truly regret going through speedrent!

Glad that you found a tenant on SPEEDHOME.

The Extended+ package includes on time guarantee rental, which means you will get your rental on time regardless if your tenant pays on time or not.

If you prefer to downgrade it to Extended plan, do email finance@speedhome.com to request for change of package for our review.

This post has been edited by wheimeng: Feb 18 2020, 12:53 PM

Thank you. They have downgraded me to basic. Few of my experience going through speedhome.

1. Speedhome will put you in a chat group, once there are queries. It's landlord, potential tenant and speedhome (Alicia).

2. Even after agreeing with a potential tenant who deposited money, I still get message about when I will be free or when the other potential tenant will be free to view the place. They are slow in updating the status and it's quite irritating.

3. Technical issue in signing agreement. Takes a few trials.

4. I requested a representative from speedhome to be present when I handover keys, so that they can take video or photos of the apartment. But they do not offer such services. So instead of listing down my inventory, I just take pictures and submit to them. Hopefully no issue when it comes to claim for any damages later.

5. My kitchen cabinet doors as agreed with the tenant will only be changed after they have moved in. After changing and taking pictures of the new kitchen cabinet, agreement has to be re-signed. That's fine, but when I asked few questions about the supplemental agreement, instead of reading through the whole chat to understand, i get standard reply of what's the process of payment before tenant moves in. Can they not just read to see there is already a tenant who has paid?

The frustrating part is having them answer your queries without understanding your questions and just churn out a standard reply. i don't know if I am dealing with human or computer generated answers.

#2: This is our new SOP. It can be irritating but let me explain why we did it. After the booking is paid, we will go through background checking and sometimes, tenants dragging their feet on providing doc/failed our stringent check - this has resulted unhappy landlords that waited for that prospect and ended up with nothing and opportunity lost. We have improved the SOP that upon booking fee, whoever gets passed the check quickest will get the unit and of course it is subject to landlord preference too on which tenant to accept.

#3: Yup, we are launching speedmanage.com and revamped the whole system, so it's not the smoothest experience and I apologise for that.

#5: Some of the replies were auto-generated, we have established a working group last week to fine-tuning some of the processes this week. We received similar feedback on this and going to look into it now to revamp the communication again.

I just found that the most drawback under speedhome is :

If tenant wish to move out during tenancy period (for example tenancy start from 1 Jan 2020 until 31 dec 2020, but tenant want to move out at 31May2020). They just need to give 2 months notice before 1April, so there's no point for the contract period, tenant can move out anytime during tenancy period provided 2 months notice given.

I hope speedhome can review about this. It is absolutely not fair to landlord

We changed the tenancy sometime ago because landlord requesting for early termination due to selling the house. This clause is mutual for both parties.

In any case that the tenant early terminates, the insurance is still active for your next tenant, which means you can continue to use SPEEDHOME to find a replacement tenant for free.

On early termination, less than 10% actually use that exercise that clause, this includes both either landlord or tenant who requested for it.

This post has been edited by wheimeng: Mar 2 2020, 03:33 PM

Please review this, if

I am tenant, i need to worry about anytime landlord can terminate the agreement and i need to find other place to stay. How if someone in the house is pregnant, or any other special case?

I am landlord, i clean the house and repair it if any to make it ready for rent, then suddenly tenant want to move out after stay for 2 months only. So i need to clean and repair again. Nightmare.

Please revise it to follow traditional standard, or at least make it optional term for the above.

Cannot comment ?

I took note of your request. We review our clauses from time to time, and if there are a lot of requests for this clause change - we will look into it.

I hope you can take this into your consideration, else there will be no point to use Speed Rent because of this.

My unit had been rented out using speedhome. My tenant had already moved in. Now I still receive alot of requests from people interested in this unit and would like to make viewing appointment. I thought once this unit is rented out, there should be no more viewing requests right?

This post has been edited by poohpooh: Mar 4 2020, 01:52 PM

Because your tenant can anytime move out within the contract period as long as provide you with 2 months notice. Be prepared

Please pm me your number or email - I'll need to check, by right system would automatically delist it.

We just launched https://speedmanage.com - free rental collection for non-SPEEDHOME customers. No catch, rental 1000, you get 1000. Zero charges. It's in beta mode now, do try it out and let me know your feedback.

What's the difference between speed manage and speedhome app? My tenant is moving out on 28th April with speedhome. If the country still under moc, how am I able to move out my tenant and claim insurance? This considers the movement restrictions and police blocks. Any guidance to it also for contactless viewing for new tenants under this situation?