Malaysia Home Rentals – Tips For First Time Renters

Deciding on leasing a house in Malaysia for the first time can be an overwhelming experience. You will be living on your own without the assistance of your parents or guardians. You will have to use your monthly income to make payments for the house rent. It’s essential to plan well ahead before you start searching for a house. You have to be well prepared in every aspect as you are a first-time renter. For this, here are a couple of things you have to think about as you look for homes for rent in Malaysia

Long Term Rentals In Malaysia

Desire or wants:

You need to be completely clear about the requirements you want and those you desire for. For instance, in case you don’t have a driving license, you will have to search for a house that is near to your workplace or somewhere closes by to commute using public transportations available. You might not find it essential to have a swimming pool or gym facility. Create a list of the items that are basic and essential. After this, if your financial capacity can accommodate your desires, then proceed in getting the things you desire for.

Financial planning:

Make a detailed list of all the monthly expenses which is further divided into categories like food, credit card bills, insurance premiums, phone bills, memberships, etc. Once you have found out the expenditures for a month, the remaining amount can be utilized for paying the rent for the house. Your rental payments should not exceed more than 30% of your earnings.

Deposit amount:

Although you have sufficient money to pay your monthly rent, you need to think about the extra utility charges like internet, water, gas and electricity bills. It would be perfect if the landlord includes these services in the rent but be prepared to pay these As you are living on your own, the accumulative charges will automatically hike.

long term rentals in Penang

Make several visits:

In case you have planned your budget well and have a sufficient amount of cash, to begin with, then it’s the right moment to start looking for houses for rent. Check into various apartments before finalizing on one. Ensure that the house you finally pick has most of the items you need. Never sign a lease agreement under any circumstance, before you inspect that property.

Lease period:

It will be a lot less demanding in case you have a preplanned rent period that enables you to plan and allocate your funds. Anyways, ensure that there exists an option for renewing the tenancy contract once the agreement expires. Make sure that both the parties involved in the tenancy contract agree and sign the agreement. This will shield you from abrupt evictions in case the landowner exchange the ownership of the property to another person during your term of residency.

Penang real estate market - rentals

The terms and conditions might differ based on the location of your house, hence it’s advisable to obtain assistance from a verified and reputable real estate broker. You have to additionally make sure that you are financially capable to make rent payments for the house for an extended time frame.

So, take your own time and make strategic plans. Renting a house in Malaysia is exciting, at the same time you need to carefully plan with due diligence.