When it comes to renting a residential property, a tenancy agreement is a crucial document that outlines the terms and conditions of the rental arrangement. In Malaysia, the standard tenancy agreement used is the REISA Residential Tenancy Agreement.
The Real Estate and Housing Developers’ Association Malaysia (REHDA) created the REISA Residential Tenancy Agreement with the aim of providing a fair and balanced agreement for both landlords and tenants. This agreement is widely used in Malaysia as it is easy to understand and has all the necessary clauses to protect the interests of both parties.
The REISA Residential Tenancy Agreement covers all aspects of the rental agreement, including the rental period, rent amount, security deposit, utilities, maintenance, and repairs. The rental period can be a fixed term or a periodic tenancy, depending on the agreement reached between the landlord and the tenant.
The rent amount is usually calculated on a monthly basis and is payable on a specified date every month. The security deposit, which is usually equivalent to two months’ rent, is collected at the beginning of the tenancy and serves as a safeguard against any damages caused by the tenant.
The agreement also covers the payment of utilities such as electricity, water, and gas. The tenant is responsible for paying these bills unless otherwise stated in the agreement. Maintenance and repairs of the property are also outlined, with the tenant responsible for minor repairs and the landlord responsible for major repairs.
One of the unique features of the REISA Residential Tenancy Agreement is the provision for early termination of the tenancy by the tenant or landlord. This clause allows either party to terminate the tenancy before the end of the rental period, provided proper notice is given and the necessary conditions are met.
In conclusion, the REISA Residential Tenancy Agreement is an important document that provides a fair and balanced agreement for both landlords and tenants. It covers all aspects of the rental agreement and is widely used in Malaysia due to its ease of understanding and comprehensive clauses. If you are renting a property in Malaysia, it is essential to ensure that you have a solid tenancy agreement in place to protect your interests.