Renting Houses in Malaysia: An Ultimate Guide

Finding a suitable property that suits your living situation and being able to rent it for cheap is the dream for every renter. However, there’s always a catch. Whether it's a condo or houses for rent, there are still many factors to look out for, e.g., the various costs, location, and leasing terms.

Discover these expert tips and insights on finding your ideal rental property and navigating with this guide to renting houses in Malaysia. P.S.: keep reading for a step-by-step guide to renting a house at the end of this article!

Tips and Insights

Have A Budget

Consider not only the monthly rent but also additional costs such as utilities, maintenance, and security deposit. For example, start by calculating your total income and stick to the 25-35 rule (rental should not exceed 25 to 35 percent of your disposable income).

Whether affordable apartments or luxury villas, calculating a clear budget with a home loan calculator will help you narrow your choices and avoid unnecessary financial stress.

Inspect Thoroughly

Proxied by the Sale Price Index, home asking prices experienced a 2.1% increase QoQ in Q2 2023, bolstering the 1.6% QoQ growth of Q1 2023. Knowing the condition of the house you're renting is pivotal in ensuring you’re getting what you’re paying for!

Start with the overall condition, such as amenities and facilities within your living space, before gradually moving on to things like plumbing, electrical switches, air conditioning, locks and alarms.

Research Different Locations

According to the latest TomTom Traffic Index, Kuala Lumpur drivers spent 159 hours on the road during rush hour traffic in the city centre last year, which is enough time to read approximately 31 books.

Now imagine if your rented house is in the middle of these rush hour routes. This is just one of the many reasons why you should research multiple housing locations. A few places to get started are the crime rate, price, distance to amenities and public transportation (if you don't rely on driving as your mode of transport).

Ask Questions

According to the Malaysia Property Market Centre (NAPIC), there are almost 7 million properties in Malaysia! This is more of a reason to get a better understanding of what you're getting into and paying for each property!

There's no such thing as asking dumb or too many questions. Get down to the nitty gritty details if you must. You can even get curious and ask about upcoming construction or development in the area. 

To give yourself an extra head start, here's a step-by-step guide to follow when finding "that" dream home of yours:

1. Appoint an agent

An agent is convenient when you need someone to help with the back-and-forth work to contact properties for a simple viewing session.

2. View the house

Be sure to go prepared; a few things you can communicate to the property's landlord or agent are your budget, size, and expected move-in date.

3. Negotiate

You can quickly get your property agent to do it, and our little secret to you is that landlords are more likely to accept a request if it's for a lease of 2 years or less.

4. Sign a Letter of Offer and submit your deposit

After you're done negotiating, you'll need to sign a letter of offer to make it official and pay your deposit.

 

5. Sign a Tenancy Agreement

Now, you're officially a tenant. But you still need to sign a tenancy agreement before moving in.

6. Pay the remaining balance

The remaining payment usually covers the deposit to the landlord, the stamping fee and the document fee to the agent in charge. 

7. Receive the key

Arrange for your date to receive the key to your home and cross-check the inventory with the agent and landlord if they are present with you.

8. Troubleshoot

Ask for a number to call whenever there are any emergencies or problems for the future.

Go Forth And Rent With Confidence!

Renting a house can be exciting and be a new experience unlike any other. 

By following this guide, you'll be well-prepared to make informed decisions, find the perfect condo or houses for rent, and enjoy your stay. Your new home awaits!