Please be informed that Cradle office will be closed throughout the MCO period as part of our effort in flattening the curve of COVID19 cases in Malaysia.

Latest News

Limited rent increase for residential ‘hot spots’ this year: Speedrent CEO

Limited rent increase for residential ‘hot spots’ this year: Speedrent CEO

Published 07 February, 2019

PETALING JAYA: Landlords in “hot spots” are advised to retain their original tenant and average rent this year in order to reduce potential losses, according to home rental platform Speedrent.

 

“I believe that whether it is sale or rental of the residential industry, the market for buying or renting a house, if the location of the property bought by the owner is not so strategic, in order to reduce losses, the owner has to consider lowering the rent,” its CEO Wong Whei Meng (pix) said in a statement today.

 

Wong stressed that the monthly rent of a non-landed residential unit, if it is located in a low demand area, should not exceed RM1,200, while it should not exceed RM1,800 for landed property.

 

“As for hot spots, this year’s rent increase is limited. So it’s advised that you retain your original tenant and average rent according to the rental market. Rental benchmarks are easily found on major rental platforms,” he noted.

 

According to Speedrent, the sales performance of the residential market has been sluggish in the past year and the performance of the rental market has been mixed.

 

Source from theSundaily




IMPORTANT NOTICE ×

Dear Valued Entrepreneurs, Partners & Start-ups, The Malaysian Government has announced a Movement Control Order (MCO) from the 13th January – 26th January 2021 in 6 states including Kuala Lumpur by the Prime Minister, Tan Sri Muhyiddin Yassin on the 11th January 2021.


Please note that Cradle has never appointed any agent or representative to act on our behalf. If you have been approached by any party, who claims to be the representative or agent appointed by Cradle, who claims to be able to facilitate or guarantee in securing grants/funds from Cradle, whether in return for a fee/favour or otherwise OR if you have doubts about the authenticity and credibility of such party, please contact the Management immediately.