Housing 4 | About Tenancy Deposits! (Kuala Lumpur)
There is another " Protected content one )" matter... its about *deposits*...
When you see a Protected content , this is commonly referred to as a:
2 months security deposit Protected content utility deposit Protected content advance rental.
There is no fixed standard for deposits by law, except that what is mutually agreeable between a landlord and a tenant becomes contractual and lawful
So sometimes deposits can be Protected content even 2+half+1.
Reasons could defer for various reasons and sometimes it may depend on say the fit-outs of the unit and expected utility bills. Landlords have different levels of comfort and equipment, and have different preferences, so these deposits typically reflect those comforts in mitigating risky tenants or tenancies.
There are variances, but one thing stays the same same always is the following:
the advance rental is paid as earnest deposit before signing of Tenancy Agreement (TA), and later converted to the first month of rental after signing the TA.
The two deposits (security and utility) is paid either at the signing of TA or at handover of keys, in case the signing of TA is after Handover.
Tenants are always responsible for stamping fees which depends on the value of the monthly rent and duration. This is different from preparation of the agreement fee which a lawyer would charge 5% of the monthly rent.
There are other clauses you can put into your tenancy contract that would give you flexibility. I will write more about that later... but in the meantime, read:
Housing 1 | Negotiating a Tenancy!
Housing 2 | What is a Service Apartment?
Housing 3 | About the The Plus One Protected content !
Housing 5 | About Tenures!
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