Speedhome is a no deposit rental online platform that connects tenants and landlords. Tenants who want to rent any of their listed units do not need to pay the standard 2 months rental deposit. Landlords, on the other hand have to sign up for deposit insurance if they successfully matched with a tenant. The deposit insurance is underwritten by Allianz Malaysia and landlords can claim from the deposit insurance in the event tenant defaults on the stay or cause damage to the property.
Approaching the one-year milestone of my tenancy with Speedhome, the renewal team has proactively contacted me, seeking my consent for the upcoming renewal. Notably, the entire renewal process with Speedhome needs to be revisited, a necessity dictated by the one-year coverage limit of the rental insurance policy.
My responsibility in this process is to engage with Speedhome and confirm whether there are any modifications to the current rental prices. This meticulous approach ensures that I stay informed and maintains transparency in the renewal proceedings.
So far this tenant has been paying rent on time and I don't really worry about the payment as I'm on the Speedhome's GR (guaranteed rental) scheme.
