Speedrent, Guarantee Deposit Scheme (ask opinion)
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 May 22 2019, 10:29 PM
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#1
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Junior Member
338 posts Joined: May 2019 
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Better be careful. The worst thing has happened. Just rent out my place through speedrent with no deposit. I thought they did all the due diligence on tenants background. After signed everything through speedrent and the tenant has moved in. The Speedhome agent told me the tenant did not pass the CTOS checking..... now I got no insurance coverage on this. This is suck!
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May 23 2019, 03:34 PM
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#2
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Junior Member
338 posts Joined: May 2019
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QUOTE(Tan&tan @ May 23 2019, 01:43 AM) Good luck for being stingy not giving agent to do for the sake of saving the holy 1 month Proffesional fees Dude, they are same as agent, they take 1 month professional fees too. |
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May 23 2019, 03:38 PM
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#3
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Junior Member
338 posts Joined: May 2019
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QUOTE(heavensea @ May 23 2019, 02:30 AM) Agents will do the background check (like ctos) for landlord? They said they check tenant’s ctos before introduce to landlord. But they didn’t. With no down deposit and they refuse to give any guarantees and warranty after all agreements signed. Better be careful on this speedrent companyOr at least you got the deposit of rental instead of holding nth? |
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May 23 2019, 04:59 PM
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#4
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Junior Member
338 posts Joined: May 2019
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QUOTE(apo_lak_nie @ May 23 2019, 04:20 PM) is it speedrent or speedhome? Same company. Both are same no matter how you call it.btw how to check someone else CTOS? |
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May 24 2019, 02:29 PM
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#5
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Junior Member
338 posts Joined: May 2019
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QUOTE(wheimeng @ May 24 2019, 09:48 AM) I've spoke to the team to understand this case. There are few things that we communicated, and few actions that we will implement with immediate effect. What the heck?!WHAT HAS COMMUNICATED: As a SOP, this is the template we have used: In this case, the key was handover without Speedrent consent. We have that specific statement in bold because there were multiple times landlord just handover the key even without any form of payment. Ever since implemented this, we have not had such incident until now. But given @johnsmith1175 statement, I believe he was under the impression that tenant has passed all due diligence process. (Improvement identified). To further explain on the DD process: Tenant can go through credit checking at any point of time in an opt in manner. But it is mandatory to be credit screened through before allowed to move in. IMPROVEMENT IDENTIFIED Our No Deposit is ONLY applicable to those who pass our screening process. Failing which, we won't allow the tenant to rent through SPEEDHOME. It would be a private dealing between the landlord and tenant should they decide to proceed. Nevertheless, I sincerely apologise for this matter. And I suggest that we discuss the next course of action - our Ops Manager will reach out to discuss possible alternatives to this matter. All agreement has signed and confirmed before hand over the key. I follow through the procedures. Only hand over key when the agreement signed from both side and payment made by the tenant! |
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May 24 2019, 02:51 PM
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#6
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Junior Member
338 posts Joined: May 2019
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Your Speedhome agent called me on this. I never call the tenant. Since you guys called me to rent out my unit to this tenant, I aspect you have done all the due diligence before your people contact me personally to ask me to rent my unit out to this tenant.
If the tenant not qualified, why call me and ask me to seal the deal? |
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May 24 2019, 03:13 PM
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#7
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Junior Member
338 posts Joined: May 2019
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QUOTE(buckbugs @ May 23 2019, 04:15 PM) I just signed the last stage as a landlord and I though the tenant already pass the CTOS checking but unfortunately not. Speedhome have not check it yet You’re lucky. I passed my key because the tenant has made the payment and all agreement signed. Even the speedrent agent chase me to confirm the meet up time to pass the key....I check the tenant CTOS record by my self and OMG.... the score is terrible. tenant plan to move in next two days as stated in Tenancy Agreement but her CTOS record is terrible. To cancel, i have to pay denda RM1k.  Im stuck right nowhow come speedhome didnt alert me? or speedrent didnt check at all? Please state clearly at which stage speedhome will notify landlord about tenant CTOS status? |
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