Many Malaysian buy, sell and lease their properties. You can choose to handle a property transaction on your own or engage the services of a property agent. I do engaged property agent for my properties in Penang. Since Springville is located in Seri Kembangan which is about 400KM away for me. There is no way for me to handle myself. Engaging property agent to assist me to rent out my unit is a must.
However, there might be many questions in your mind:
- What should you look out for when engaging property agent?
- What is a fair commission to pay?
Guide #1: Check if the property agent is registered with REN (Real Estate Negotiator)
Always ask the property agent to show you his/her estate agent card and verify the information on the card against BOVAEA’s databases. Do not respond to flyers that only displays a name and contact number of a property agent but not his/her registration number.
Alternatively, check the REN number HERE
Guide #2: Understand what your property agent is supposed to do for you
Typically, the purpose I engaged property agent is responsible for the following services:
- Look for good potential tenant
- Handle any issue arises with related to the rental unit
- Stamping of tenancy agreement
With above two guides provided, the last one is to TRUST and EMPOWERED your property agent to do a good job for you. I am fully 100% trusting my property agent will do a good job for me. I make sure if the deal closed, the property agent will get his fair compensation according to the market rate.
How to handle the viewing?
The unit still under renovation and the key is hold by my contractor. As such, during each viewing, I have to ask the property agent to contact my contractor to open the unit for viewing.
During the past one month, there are several enquiries and viewings arranged by few property agents. However, none of them close the deal due to several reason below:
- Asking rental is too low, ranges from RM1,000 –RM1,300 for partial furnished.
- Foreign students
- Asking for full furnished but the rental is RM1,500
What is the unit includes?
- 4 air-conditions
- 2 heaters
- 5 ceiling fans
- Dry kitchen cabinet
- Wet kitchen cabinet
- Main door grille
As mentioned before, I will always will present during the unit viewing. This will enable me to gauged the future potential tenant myself.
Advantages of being there:
- Can address any queries potential tenants have
- Can ask a lot of questions to assess the credibility of the tenant my
With the help from property agent, the unit is rented out while still under final touch of renovation. Kudos to the property agent that act on behalf of me. The rental is RM1,500 with partial furnished. Tenancy start from 1 Nov 2016 till 31 Oct 2017.
Below are some of the photos taken at night time by my neighbours. It looks so nice at night.