Renewing a tenancy agreement in Malaysia can be a complicated process, especially if it`s your first time doing it. Whether you`re an experienced tenant or a newbie, renewing a tenancy agreement can be a hassle. However, with the right approach, you can renew your agreement with ease and without any complications.
Here`s a step-by-step guide on how to renew your tenancy agreement in Malaysia:
1. Check your Tenancy Agreement
Before you begin the renewal process, you need to check your current agreement. Ensure that you`re familiar with the terms and conditions of the agreement, including the rental amount, payment details, and duration of the lease. Ensure that you have fulfilled your obligations under the current agreement, such as paying rent in a timely manner, taking care of the property, and fulfilling the notice period requirement.
2. Contact Your Landlord
The next step is to contact your landlord and express your interest in renewing your tenancy agreement. You can do this through email or a phone call. Ensure that you do so at least two months before the end of the lease to give both parties enough time to negotiate the terms and finalize the renewal.
3. Negotiate the Terms
Once you`ve expressed your intention to renew, the landlord will likely lay out the terms of the renewal. You, as the tenant, can negotiate the terms if you`re not entirely happy with what the landlord is offering. This includes rental cost, payment schedules, and other terms related to the tenancy.
4. Make Changes
Once you`ve agreed on the new terms of the tenancy agreement, ensure that both parties sign a new agreement reflecting the new terms. Make sure that you have copies of the updated agreement, just in case you need to refer to them in the future.
5. Pay the Renewal Fees
In Malaysia, most tenancy agreements require the tenant to pay a renewal fee to the landlord. Ensure that you clarify the amount of the fee with your landlord and make the payment punctually. It is always a good idea to request a receipt of payment from your landlord for record-keeping purposes.
6. Renew Your Tenancy Agreement
With all the terms agreed upon and all the fees paid, you can now renew your tenancy agreement. Make sure that you sign the new agreement and keep a copy safely for future reference.
Renewing your tenancy agreement in Malaysia can seem like a complicated process, but with the right approach, it can be relatively easy. Remember to contact your landlord, negotiate for new terms, make any necessary changes to the agreement, pay the renewal fees on time, and sign a new agreement.
By following these six steps, you can renew your tenancy agreement swiftly and without any hassle.