Real
estate agents are plenty in Malaysia. Though it's not a
must to use them, it helps ease the burden from hunting
to shuffling papers to making payments. However, when using
an agent, be as specific as possible of the living conditions
you require; for example, with built-in cabinets and wardrobes
in the kitchen and bedrooms, or a porch or garage that is
large enough for 3 cars. You might also want to specify
the finishing of the home to suit your taste if you don't
intend to bring your own furniture. Housing in Malaysia
as with any other country, differs in price according to
location and its furnishing.
Rental Types
Fully-furnished: Walk in with your suitcase and you are
pretty much set. May need only shop for minor items like
bed sheets and curtains unless negotiated otherwise with
the landlord.
Semi-furnished:
You probably need not buy or bring much of the bulky items
like beds, lounge set, wardrobe as it would be included.
But check first.
Non-furnished:
As it means - practically empty. On occasion, some may have
the kitchen cabinets, but that's all.
Most
leases are for two years. A sample of a typical lease can
be found by clicking here.
After
agreeing the terms and conditions of the lease you will
be required to pay one months rent as “earnest deposit”.
This should be done at the time you sign a letter of offer
which will include the basic conditions of the lease. This
will eventually be used as the first months' rent. It will
also state what additional payments are due and when they
should be paid.
Within
seven days, you'll pay a further two months' rental as “security
deposit” and half a months 'rent as a “utility
deposit.” These amounts will be held by the Landlord
until the lease expires, at which time it will be refunded
less the cost of any damages made to the premises or to
settle any unpaid bills relating to the period of the tenancy.
Early
termination “Diplomatic Clause”
In
Malaysia it is common for company rentals agreements to
include a clause which allows early termination of the lease
in the event the occupant is reassigned out of Malaysia
or the State where he is leasing the property. This is often
referred to us as the “diplomatic clause.” It
is sometimes required that the tenant show evidence he is
leaving such as cancellation of the work permit before the
deposits are returned. Usually the lease agreements require
that this clause cannot take effect during the first 12
months of the lease. In order to terminate the lease under
this clause it is normal to require the tenant to give two
months written notice or pay two months rental in lieu of
notice.
By
international standards, Malaysian housing is cheap. Leases
are generally drawn up for yearly renewal. Occasionally,
the agent may work out for you a half-year lease. But if
you intend to be in town for sometime and your employer
allows you to purchase property, it could be a good investment
to buy and sell when you leave.
Without
going into the vagaries of the property market, people have
made good returns from medium to long term investments.
Seek professional advice before taking the plunge - a good
starting point is www.propertyinmalaysia.com