In this case, the lease is always a great way to get an income. To ensure that the entire process runs smoothly for both landlords and tenants, certain safeguards must be put in place. According to an article by Christopher Chan, associate director and registered estate agent of Hartamas Real Estate Group published earlier this year on Star Property, it is illegal for property owners to distribute their tenants or restore the ownership of the house/chamber without a court order, in accordance with section 7(2) of the Specific Relief Act 1950.As. Landlords are prohibited from using the court documents necessary to change locks or removing tenants. If they do, they can be sued by their tenants for break-ins. Christopher also explained the legal process a landlord must follow to manage tenants who do not pay their rents. With the help of a lawyer, the landlord should first give the tenant a notice of payment of the rent. If the tenant still fails to make up the delay and pay the monthly rent as agreed in the rental agreement, the lessor can then report the rent to the tenant and bring an action against the tenant who claims the delay in tenancy to obtain a court order from the tenant for the evacuation of the property. The article mentioned that the legal process will take about seven months and can cost the owner around RM10,000. As a tenant, be sure to pay the monthly rents on time and if you have any rent problems, contact your landlord immediately and talk to them.
It`s important to be aware of the fact that some landlords depend on the monthly rents they collect as monthly income. A rental agreement is defined as a contract signed by both the lessor and the tenant, in which all the conditions for renting a property are clearly defined. Both parties can negotiate the terms of the rental agreement and, as soon as they accept and sign the document, the owners and tenants are bound by the terms of the aforementioned agreement. While it is more common for landlords to establish their own lease, it is best to hire a lawyer to do so or at least review it by a professional to ensure that all parties are best protected during the rental period. Note that the organization of the rental agreement involves attorney`s fees and although they are usually borne by the owner, there is no specific provision for this purpose. Therefore, if the property owner is the one who commissioned a lawyer to draft the agreement, it is usually recommended that tenants hire their own lawyer to verify the agreement before signing. The attorney`s fees and stamp duty of Lembaga Hasil Dalam Negeri Malaysia (LHDN) are as follows:Attorney`s fees for a lease term of three years and beyond:First rental of RM10,000 – 25% of monthly rent Next Rent RM90,000 rental – 20% of monthly rentMore than RM100,000 – negotiable stamp duty for LHDN:Rental for each RM250 by RM2, 400 RentalLess than 1 year: RM1Zentre 1-3 years: RM2More than 3 years: RM3 Annual rent below RM2,400 – no stamp duty Here is an example of what the calculations would be, if you rent a property for RM1,500 per month:Lawyer`s fees: RM1,500 x 25% = RM375Stamp Duty: (RM18,000 (annual rent) – RM 2,400) / RM250 x 1 year = RM62, 40 Total for attorney fees and stamp duty: RM437.40The above information on the details of attorneys` fees for the rental comes from Speedhome, an online platform that people can rent directly from their site….