We request for the offer letter to verify it.

On a random basis when we are suspicious of it.

We pay more attention to the foreign students bank statement.

We still do credit checking on them.

We have stated our PDPA policy and all background check requires tenant/landlord consent.

Their file should be clean if truly a student. If something comes up, that's something fishy.

Not always but statistically, they are OK.

On our Extended+ package, we will cover legal costs for evicting the tenant and pay you for the period of tenant overstayed in your house for up to 12 months.

For more info, https://speedhome.com/blog/ocd/

This is common, even for deposit model, isn't it? I can ask for a loan for the deposit from my friend, family?

The difference is we do further checking, we do not claim to be bulletproof but at the very least we go through screening and using AI to detect.

And if the tenant defaults, we will share this info to credit reporting agency. Check the image.

How is deposit different from insurance?

If tenant does run away, default, insurance will pay out too.

We have received some feedback like this and will be implementing a scoring to address that.

Sorry for the inconveniences.

The non-negotiable is for our system to strictly not show your property when the latter doesn't match the price filter.

We cannot police and stop human nature to negotiate. And some people like to negotiate for the sake of negotiating.

If your objective for non-negotiable is mainly because it's the price floor, then I suggest you increase RM100 and change it to negotiable just to show room for negotiation (a very common tactic)

If your objective for it simply hated to communicate with the tenant, then you can tell Alicia everything about the house and let help to answer some questions. You could ignore everything (at your own risk). After all, we are a platform for you to deal directly with the tenant, and we do send tenants who are interested in your property.

End of the day, a property investor is also a business owner of your property, communicating with a prospective tenant is critical. The expectation of all of the tenants behave exactly the way you want them to be is quite impossible.

This post has been edited by wheimeng: Nov 26 2020, 09:17 AM

What is 75%? Oh, are you renting short term? Yea, we are more focused on 12 months tenure.

it's up to you to renew or not. but for renewal, we will include OTR (on time rental) FOC as an upgrade.

yes, it's common nature for people to low ball, you don't see it because agent filtered it. but like you correctly pointed out - you can ignore them and a lead is a lead.

we do income (bank statement vs payslip), employment check, Experian check, and internal data point.

This post has been edited by wheimeng: Jan 11 2021, 07:24 PM

Yup.

@flight don't think we will do crowdfunding moving forward.

Smarthome cover has significantly less coverage limit, like the damage is limited to RM2k, whereas we are up to RM15k. Or rental sum is limited to RM1500, whereas we can do up to RM5000.

that's no way to rent without providing these info, so yes they have to; else we need to reject.

Just saw this, @arideyes - please reach out to our team, we have an internal policy to subsidize such incidents. The majority of the tenants do settle their bills by end of the tenancy.

If a tenant defaulted (not paying rental), most likely you can easily claim the same, if not more compared to deposit. And as mentioned, we do have an internal policy to help with rare cases such as yours.

I'll have a word with the team to update our SOP, I see areas of improvement to further mitigate such risks.

Feel free to reach out to me at ceo@speedhome.com if you have any other feedback, happy to discuss.

@ryan@chua - I don't deny you can see lots of negative reviews over the years, but very rarely repeated negative reviews because we have been consistently improving our SOP to address it.

Property rental is a known hassle and problematic industry, yet we remained committed to offering solutions, one step at a time. You can choose to tunnel focused to the black spots, or you can look at the white space.

I provided my email publicly and received a lot of feedback from the public on improvements we can make. While we can't fulfill every request, if it's within our capability and control, certainly we will make it happen.

@arideyes - could you pls pm me your email / contact number so that I can check with the team?

Some tenants comply with it, some got landlord's consent not to do it. Some clauses are easier said than done, but we are exploring other options now too.

And I'm glad that we sorted out with @arideyes as per our guidelines.

This post has been edited by wheimeng: Apr 21 2021, 10:59 AM