SPEEDHOME welcomes the government willing to pass the Residential Tenancy Act (RTA) by next year, to ease the current tension between landlords and tenants in Malaysia.

SPEEDHOME the safest End to End property rental platform in Malaysia has successfully solved the rental racism issue in Malaysia after operating for 4 years.

SPEEDHOME CEO Wong Whei Meng said, “We have been striving to build a fair property rental market and certainly with the introduction of this new law, this will make Malaysia a more harmonized country.”

In the past 4 years, the platform matched more than 3500 landlords and tenants, and more than 70% of the landlords willing to rent the property to tenants of different races.

By providing a strict Zero Deposit entitled checking process and direct communication, SPEEDHOME is able to convince landlords to rent out to different race tenants.

“Rental racism is quite a common thing that happens in Malaysia, at SPEEDHOME we don’t reject tenants just by their race, but will consider if they are a good payment master or not. ”Wong Whei Meng said.

According to the internal survey conducted on SPEEDHOME’s social media group, more than 80% of the respondents pointed out the landlord actually doesn't mind renting out their property to different race tenants, the most important thing is the tenant can pay the rent on time and take care of their property.

On the other hand, the landlord's hand is tied by the existing law, even if the tenant overstays and doesn't pay the rent, the landlord still needs to get a court order to evict the tenant, or else the landlords can't enter the property without the consent of the tenant.

The existing law takes too much time when it comes to evicting the default tenant, and this whole process causes the landlord loss of time and money.

Wong Whei Meng stated “What I am hoping is to build a color-blind and fair rental market. There should be a system to protect the good landlord or tenant. We need a residential tenancy Tribunal to settle the dispute between and the landlord.”

Also, there is some feedback from the landlord, who has had a bad experience from having a bad tenant, he suggested that government can work with the current market operator to come out a system to check the tenant or the landlord's reputation when coming to residential renting, just like some European countries such as Holland and Ireland.

To understand more on how SPEEDHOME provides a more efficient way to solve Malaysia residential rental problems, feel free to visit their website.

About SPEEDHOME

Established in 2015, SPEEDHOME (formerly Speedrent) is a free Zero Deposit, Zero Commission automated platform connecting landlords directly to quality tenants providing rental protection and house-purchasing services. Their mobile app has exceeded 300,000+ downloads on Play Store and App Store. They have a database of more than 56,000 property listings and 63,000 potentials in their high-quality tenant pool. Homebuyers' financial burdens are also eased with a Zero Commission policy with the purchase of a property.

SPEEDHOME aims to simplify the rental process, making it transparent and secure for both landlords and tenants. They combine mobile technology and automation to bring together a pool of high-quality tenants, transparency and interactivity for all users to make more informed decisions during the rental search experience.

Landlords are free to advertise and manage their properties and contact potential tenants anytime, anywhere. Partnered with Allianz General Insurance, SPEEDHOME is the first rental platform that provides insurance and rental protection of up to RM42k, covering more than standard security deposits.