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Tenancy Renewal Question, Need to re-draft the agreement?
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mini orchard
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 Apr 29 2020, 06:41 PM
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1.
Sign a new TA. If both party agreed to the terms of the 1st TA, then follow. To save on fee, can DIY. Just pay for stamping only.
Retype the agreement and change the relevant dates and monthly rental rate and deposits where applicable. Print 2 sets and sign. To have a Witness for both signatures.
Go to LHDN for stamping within 30 days from date of agreement.
2.
Request tenant to write officially agreeing to continue the tenancy and following the same terms of the 1st TA OR with amended terms where applicable and changing the relevant dates or rental rate. You acknowledge and keep a copy.
No fees applicable.
3.
Verbal confirmation for extension. (NOT RECOMMENDED)
CAUTION ......
No agreement is 100% without dispute whether in writing or verbal during the duration of tenancy.
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mini orchard
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Jul 29 2020, 09:04 PM
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QUOTE(echho @ Jul 29 2020, 08:51 PM) I am also 1st time renter. My tenant is due for renewal but asked for reduced rate. He is an accountant in stable employment and didn't suffer any loss of income unlike me having pay cuts till year end. I am in a dilemma what to do. Any advice ah? What is current rate and how much reduce rate ? |
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mini orchard
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Jul 30 2020, 06:14 AM
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QUOTE(echho @ Jul 29 2020, 10:11 PM) 2.5k full furnish. Just request discounts without stating the amount. My unit fully renovated with simple ID. In most TA, there is a clause to state that . "Upon renewal of TA, the landlord can review the monthly rental at max 10% from the last rental" So you can start with -RM100 to the max -RM250. This post has been edited by mini orchard: Jul 30 2020, 07:31 AM |
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mini orchard
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Jul 30 2020, 10:38 AM
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QUOTE(echho @ Jul 30 2020, 10:32 AM) Many thanks for the advice! As he was managed by agent, am I obliged to pay agent the renewal commission? You can deal directly with him since he is oredi your tenant. Agent"s role is to pass message and helps to prepare TA renewal which is borned by the tenant. Is for you to decide whether the agent's services deserve the fee ? The quantum need not necessary be a month's rental but a reasonable amount for work done if you so decide to let him handle. This post has been edited by mini orchard: Jul 30 2020, 10:41 AM |
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mini orchard
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Jul 30 2020, 02:38 PM
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QUOTE(echho @ Jul 30 2020, 02:28 PM) I see. Agent asked for half month commission. Basically he still help to manage my tenant like follow up on payment and liaising with condo management for repair etc. Is 1k reasonable? If is 1 time payt, then ok. |
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mini orchard
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Sep 6 2022, 06:10 PM
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QUOTE(echho @ Sep 6 2022, 05:39 PM) Wanna ask: My Tenancy Agreement (TA) ending soon. Same tenant of 3 years wishes to continue. 1. Instead of redo a new TA, can do an addendum with new period and new rate(increase a bit) to extend the original TA? 2. Is no. 1 addendum extension legal when served with original TA? 3. Can addendum be stamped supported with original TA? 4. No more agent. Between tenant and owner, who bears stamping cost? Thanks for all guidance given. 🙏🙏 Redo a new set. Retype those pages with amendments. The other pages, photostat. Tenant pays stamp duty for TA but for renewal, if is not much, landlord can bear the charges or 50/50 if the tenant has been good for 3 years. You decide. This post has been edited by mini orchard: Sep 6 2022, 06:13 PM |
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