News about rentals

GEORGE TOWN (May 6): Despite recently announcing a ban on short-term rental homes or homestays, the Penang government is still open to the option of regulating the activity.

KUALA LUMPUR (Oct 15): Talks of proposed blanket bans on short-term rentals in strata buildings in Penang, Selangor and other states in Malaysia could pose a recovery threat on Malaysia’s tourism, says short-term rental accommodation company Airbnb.

KUALA LUMPUR (Aug 11): Airbnb wants to resolve the contention surrounding the 90- to 180-day restriction on short term rentals with Malaysia Productivity Corp (MPC) and the Ministry of Tourism, Arts and Culture.

PETALING JAYA (May 22): More stringent Standard Operating Procedures (SOP)s for short term rental operations in strata buildings are needed to prevent the spread of diseases such as the Covid-19, said Henry Butcher Mont’ Kiara executive director Low Hon Keong.

With unsold completed residential properties at an all-time high in Malaysia and with landlords competing for tenants amidst a slowdown, there is one thing developers and property investors with empty homes could do — rent them out for short-term rentals instead of waiting for long-term leases.

  KUALA LUMPUR (April 17): In a survey commissioned by Airbnb, half of the 880 respondents would prefer to have a national set of guidelines for short-term rentals.

PETALING JAYA (Sept 21): A lawyer has advocated for the rental market to be strengthened with more comprehensive laws that sets the terms of a tenancy agreement and address disputes between the landlord and tenant as a way of easing the pressure of making homes affordable on the public sector.

PETALING JAYA (Sept 7): High demand for housing in China has prompted newly-built or newly-renovated apartments to be put on the market before cancer-causing formaldehyde fumes have enough time to dissipate, reported the BBC.

PETALING JAYA (August 24): Short-term accommodation rentals of homes in the Klang Valley are being pegged as the new venue of choice for raves, wild parties which may feature drug-use, loud music and alcohol consumption.

PETALING JAYA (July 26): As residential property leasing market becomes challenging in the Kuala Lumpur city centre due to oversupply, Knight Frank Malaysia observed more owners turning to short-term leasing for higher yield in 1H18.