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1. I would like to buy condo or house near LRT area...is it legal to make it into a homestay for daily renting like hotel that has been going on in Malaysia for quite sometimes.
2. what should i check with the agent or owner before paying deposit...my friends told me that I should check for owner loan statement, any problem with house and etc
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1 Answer

<en>David</en> <en>Wong Lai Kwong</en>
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Dear Wan,
1. I think it is more of an administrative and condominium policy issue rather than licensing issue. If you have daily tenants/occupants you need to inform the management of the condominium on the change of tenant/occupant and perhaps apply for security pass card, car parks etc. It's easier with a house. Secondly, there is a limitation on how many people can stay within the premises. Thirdly, you need to structure a daily contract or deposit to facilitate such daily use tenant. You also need to be responsible for the type of tenants you invite because you do not know whether they are doing illegal things or not. You need to declare your income from this daily tenancy, too. Please check with a lawyer for further advise.
2. Before you pay any earnest deposit make sure the agent is a licensed firm if they collect your deposit as a stakeholder(www.lppeh.gov.my) and hold them accountable.If you are paying directly to owner, make sure the owner is the registered owner on the title deed or S&PA. At the stage of S&PA, your hired lawyer will conduct further due diligence on the property by liaising with the Seller's lawyer on the loan outstanding etc.before advising you to release further payments to the Owner.
Thank you.
David Wong
Principal
QUANTUM real estate
 +60193330573  Read More
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  • WS
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    Thanks for the answer. Then I assume it not illegal do have daily tenant? I just want to get more money from my condo investment. I saw that a lot of people are doing this.airbnb.com and ibilik.com.my...could you help me to draw the daily tenant agreement?

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