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