my friend has a success story with Speedrent. quite good he said

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.

one of the main challenges with the Speedrent platform is how it discourages more than 1 year tenancy n will always cost you 1 month rental as the insurance charges are 1 month per year while your deposit can last you for the lifetime of the tenancy (2-3 yrs).

Speedhome landlords approve rental relief for tenants

Landlords on the house rental and purchasing platform, Speedhome, have approved a total RM135,000 worth of rental relief as the COVID-19 pandemic continued to affect household incomes.

Chief executive officer Wong Whei Meng said in the past month, about 10 percent of Speedhome tenants have requested for rental relief.

“Among the group of tenants that received relief, 70 percent of them are freelancers, self-employed or small businesses, and the remaining 30 percent of tenants have shown that their incomes are badly affected by almost non-existent commissions or allowance,” he said in a statement today.

The rental platform also found that defaults, early termination and delay of rental payments are on the rise.

“We also found that the number of people who chose to terminate their contracts early in April also increased by 10 percent, mainly because the tenants could no longer continue to pay the rent.

“Additionally, there are also many foreign expats who terminated their tenancy to head back to their home countries," he said.

At the same time, Wong said Speedhome’s rental data also showed that compared with the past six months, the number of people who did not pay rent on time increased by as much as 20 percent.

“During this Movement Control Order period, we witnessed an 80 percent drop in transactions, but we believe that this is only a temporary problem as accommodation is a basic need,” he added.

https://www.theedgemarkets.com/article/spee...-relief-tenants

My concerns with speedhome are below:

1. The rental relief is fully borne by the landlord? Any relief from speedhome or the insurance company?
2. If early termination of contract, is there any payment by the tenant, speedrent or the insurance firm? In a normal rental case I'll have a stamped tenancy agreement that will clearly stipulate whether it's one month or two months payment in lieu.

Thanks wheimeng.

This post has been edited by Babizz: Apr 11 2020, 09:31 AM

Ofcos someone would wanna view all these details way before the signing of the TA

Anyway my main concern with SpeedH remains la. In a normal TA if my tenant continues for 2nd n 3rd year I would still have the deposit with NO additional cost as the landlord while if I was with Speedhome I would have to either get the deposit or pay another one month of insurance.

Also if the tenant has no skin in the game i.e. no deposit money with the landlord they would be less inclined to take care of the unit. I would list up my units via speedH also but I would price it higher.

My2c

That's good. Reported in ccris/ctos?

Most of your next concerns can easily be mitigated by extensive due diligence of the tenant. I have yet to own a condo that needs so long to rent out to a good tenant. But will surely keep SH as an option.