I am the owner of 1 shop lot property which I am renting it to my aunt for her small business, I rent to her at 10% lower than the market price. Assuming 6000, I am renting it for 5500 to her.

Recently, there was a realtor who called me up to ask if I am the owner of the property and he told me he can rent it out at higher price than the market value of RM 6000 to RM 8000. And he told me the tenant in my shop now is looking for him to find a cheaper location which means I will have the potential to have no tenant if i don't act fast.

I found it very weird, so I gave my aunt a call she told me no such case. So I went to my shop lot area to dig around, so happened one of the car workshop guy whom I always send my car for maintenance told me their rent increased by 30% suddenly, usually is 7-10% every year depending on rent value. He also suspected the realtor did this because the owner called him and asked him if he is moving out already at the very first conversation.


while there is no evidence we can get this because it is a willing buyer willing seller right, is there any government office we can report these cases to?

This post has been edited by Red_rustyjelly: Jan 22 2024, 03:34 PM

There's a longtime agent from USJ retired abruptly last year because she's doing the abovementioned.

After getting news that both landlords & tenants wanted to whack her.

Tenants who'd been renting 15-20 yrs & paying on-time were forced to vacate/shift because she's been promising landlords 30-50% higher rent.

While from landlord side, after old tenant left, cannot get new tenant, as the deposit alone is 5-digit.

kesian kena scamm

This is exactly happening now. I don't want to mention the real estate company name.

But somehow instigation like this will cause shops to move out due to suffering from high cost and eventually looks abandon town if more and more empty.

You don't see this kind of issue in very old town like pj ss2 because old owners are steady. That's why the place so vibrant.

But new town young owners usually attracted to this kind of up price talk.

BB Sri Petaling, C180 are currently the worse hit areas.

That's how property agents get biz now. If everyone stays put, there's no opening for them to earn commission.

I put up a Sale/Rent banner, I get 15 agents calling me wanted to represent me. None call saying I have a ready buyer. That's how bad the buy/sell market is.

Not new... happened a lot since covid...

That's why nowadays agents are the culprit for unreasonable rentals. If owners dont go through them, they earn nothing. So simply throwing a number around, then find a renter. After one or two successful transaction, the current market 6k become 7k after first rental, and another increase to 8k for the second rental. Then promised the 3rd one 9k. Who wont be moved by such jump.

take a look at scott garden transacted price vs real market price.

all conmen agent heavily inflated the price

well if the landlord is not greedy, they won't fall for such schemes. this succeeds because landlords are tempted by greed.

Main problem is the landlord... Not greedy with the "scam" by those agents. The situation won't happen where no new tenant....

for your info,most agents are now under 3 big real estate agency meanwhile PropertyGuru owned iProperty.

The rest of the story, u figure it out yourself.

This is called creating a market where one didn’t exist before or was stagnant. It’s always in the best interests of a sales person to stir up greed.

nothing new...

been like this for don't know how many donkey years...

agents always cunning one... create "new market" when there's none....

Curious to know which 3...Thx
Used to know GeeA$$ was the biggest back then.
Me no agent.

You can ask Mr Google or ChatGPT.

Most importantly, you guys get the point.

I don't have good comments on the future of our property market.

Those who have some knowledge in economics would tell you the existence of monopoly or oligopoly would not be healthy for the growth of any sector.

Again, maybe I'm wrong. Please seek professional advice from licensed estate agents and licensed Valuers.

Goggles also gave more than 3. GBT failed to reveal your list also.
Avoid agencies word also.

Agree on the risk monopoly. So l will avoid the three.
Pls spell the three.
PM also can. Thx

Such practice are common in Shoplot renting industry.

I'm an agent myself and this is literally the case of one bad apple spoiling the entire bunch.

Please feel free to report to BOVAEA directly and make sure that the 'agent' has a REN number and not a broker or whatsoever.

I can't get evidence though. agent doesn't use WhatsApp, just straight calling. therefore we cannot record anything.

I give u hints...

Both agents & so called brokers doing this stuff for years.... No one bother to report... Typical Malaysia tidak apa attitude...

My biz in puchong recently kena. From 8.5k jump to 13k. Heard is agent instigated also.
Moving out in 2mths.

This post has been edited by sijun: Jan 24 2024, 02:09 PM