Local property market in Kuala Lumpur

 

 

After agreeing to the terms and conditions, you are usually required to pay one month’s rent as a deposit when you sign the letter of offer. This will normally be used as the deposit for the first month. Within a week, a further two months’ rental will be collected as “security deposit” and another half month’s rent as “utility deposit.” The money will be held by the landlord until the lease expires. The amount returned will be less the cost of any damages made to the premises and any unpaid utilities incurred by the tenant.

Most leases are renewable yearly. The agency fees will be paid for by the landlord. The tenant, however, is responsible for paying their own utility costs. If you are planning to be in Kuala Lumpur for a few years, you might want to consider purchasing property as it could be a good medium to long-term investment.

 

 

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Buying Property in Malaysia