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 Rental Deposit - Cash or Cheque, How to protect yourself

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TSsai2
post Dec 1 2019, 12:44 PM, updated 7y ago

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Usually how you pay the 2+1 months deposit etc to the agent ?
Cash or Check or online bank transfer ?
If cheque pay to whose name ? owner, agency company, agent
How to protect yourself ?
When should i expect to collect the key and rental agreement with stamp ?






This post has been edited by sai2: Dec 1 2019, 03:28 PM
AskarPerang
post Dec 1 2019, 01:29 PM

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QUOTE(sai2 @ Dec 1 2019, 12:44 PM)
Usually how you pay the 2+1 months deposit etc to the agent ?
Cash or Check or online bank transfer ?
If cheque pay to whose name ? owner, agency company, agent
When should i expect to collect the key and rental agreement with stamp ?
*
1st month rental aka booking = agency
2 months deposit + XXX utility deposit = landlord straight
Agreement fees = agency

Doesnt matter what method you use as long as got actual money enter the account then only ppl will believe you are not scamming.
TSsai2
post Dec 1 2019, 01:54 PM

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QUOTE(AskarPerang @ Dec 1 2019, 01:29 PM)
1st month rental aka booking = agency
2 months deposit + XXX utility deposit = landlord straight
Agreement fees = agency

Doesnt matter what method you use as long as got actual money enter the account then only ppl will believe you are not scamming.
*
I'm afraid they (fake agent etc) scam me, that's why i ask, how i protect myself if he take the money and run away.
Some agent ask for ALL the money pay to them in cash, is this normal procedure ?

nookie188
post Dec 1 2019, 01:54 PM

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do NOT pay direct to agent personal account ..never ever!
TSsai2
post Dec 1 2019, 02:20 PM

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QUOTE(nookie188 @ Dec 1 2019, 01:54 PM)
do NOT pay direct to agent personal account ..never ever!
*
If i pay the agent cash, that's the same as pay to their personal account and you can't even track where the money go if by cash.
So what is the safe correct procedure to avoid scam.
Only pay in cheque ?
Only pay to their agency, not their personal account ?
Separate cheque 2 month deposit utility to the owner account ?
How u pay it, one lum sum to agent or 2 separate cheque to agent and owner ?



AskarPerang
post Dec 1 2019, 03:18 PM

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QUOTE(sai2 @ Dec 1 2019, 01:54 PM)
I'm afraid they (fake agent etc) scam me, that's why i ask, how i protect myself if he take the money and run away.
Some agent ask for ALL the money pay to them in cash, is this normal procedure ?
*
It is not normal but as usual some will ask you to do so because to get full amount of this commission.
If you bank in to their company account, they need to split commission with their agency.

TSsai2
post Dec 1 2019, 05:45 PM

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QUOTE(AskarPerang @ Dec 1 2019, 03:18 PM)
It is not normal but as usual some will ask you to do so because to get full amount of this commission.
If you bank in to their company account, they need to split commission with their agency.
*
Fortunately these agent like to scam their own company but not me.


mini orchard
post Dec 1 2019, 06:24 PM

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QUOTE(AskarPerang @ Dec 1 2019, 03:18 PM)
It is not normal but as usual some will ask you to do so because to get full amount of this commission.
If you bank in to their company account, they need to split commission with their agency.
*
A normal advise on the right procedure will do. Not necessary to go into details how negotiators earn their fees. Tenants dont have to know. Otherwise some will think 3 or 4.
nookie188
post Dec 2 2019, 09:10 AM

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QUOTE(sai2 @ Dec 1 2019, 02:20 PM)
If i pay the agent cash, that's the same as pay to their personal account and you can't even track where the money go if by cash.
So what is the safe correct procedure to avoid scam.
Only pay in cheque ?
Only pay to their agency, not their personal account ?
Separate cheque 2 month deposit utility to the owner account ?
How u pay it, one lum sum to agent or 2 separate cheque to agent and owner ?
*
Safest would be "-

one month rental to AGENCY direct including miscl fees like preparation of TA, stamp fees..- cheque or online transfer..

the balance including utility direct to verified owner via cheque or online



TSsai2
post Dec 2 2019, 11:54 AM

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QUOTE(nookie188 @ Dec 2 2019, 09:10 AM)
Safest would be "-

one month rental to AGENCY direct including miscl fees like preparation of TA, stamp fees..- cheque or online transfer..

the balance including utility direct to verified owner via cheque or online
*
Very appreciate your valuable advice. Seems like the best answer.







TSsai2
post Dec 2 2019, 02:17 PM

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QUOTE(nookie188 @ Dec 2 2019, 09:10 AM)
Safest would be "-

one month rental to AGENCY direct including miscl fees like preparation of TA, stamp fees..- cheque or online transfer..

the balance including utility direct to verified owner via cheque or online
*
I found a very good and honest agent that advise the same thing and this kind of agent deserve the RM300 agreement fees.
Thank you.






mini orchard
post Dec 2 2019, 02:23 PM

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QUOTE(sai2 @ Dec 2 2019, 02:17 PM)
I found a very good and honest agent that advise the same thing and this kind of agent deserve the RM300 agreement fees.
Thank you.
*
There are still many honest agents earning a living around. Just as some useless tenants asking for the impossible.

Going to report me again?

 

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