Property rental law needed in Malaysia

Property rental law needed in Malaysia

6 October 2017, Petaling Jaya – There is a value proposition to establish a rental law in Malaysia to develop a more robust housing rental market, said Second Finance Minister Datuk Seri Johari Abdul Ghani.

He said the rental law is one of the suggestions by Bank Negara Malaysia and it is something that needs to be discussed with the various ministries.

He said the government remains committed to strengthen the legal and institutional framework of the rental market to kickstart this development.

“For instance, establishing a neutral third party that protects tenant’s right to deposit recovery while allowing the landlord to use the deposit if the tenant breaches the agreement,” he said at the 20th National Housing & Property Summit 2017 here this morning.

In Malaysia, only 24% of households rent.

– THE SUN

Featured image: stocksnap.io

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