Headache-free rental is just a touch away.
It all started two years ago when Whei Meng, founder of Speedrent was out to rent his property. However, out of 50 agents that he contacted, only two responded and finally made a deal. The downfall: he paid almost RM3,800 for the whole process.
Although he didn’t want to use the service of an estate agent, he thought, “Just go with it” since he had to pay a minimum of RM300 in order for his property to be listed on a property site. Thus, with feelings of utter frustration paired with extensive knowledge in IT, he decided to make a change; not wanting other people to go what he went through.
This is how Speedrent came about.
Whei Meng, founder of Speedrent telling us all about his little venture.
I was rather amazed at how the app works. Whei Meng, mentioned that you should only do two things, for both owner and (future) tenants:
For landlords: Download the app, post information and pictures about the property
For tenants: Download the app and deal with the owner of the property.
Getting Down and Dirty
Of course, if you were keeping up with the news, you would know by now that it caused a stir within the real estate community – the real estate agents. This went right up to a point of where it might be illegal for property based platforms to be used for dealings according to the Board of Valuers, Appraisers, and Estate Agents Malaysia (BOVAEA). But not according to Whei Meng.
According to the naysayers, this start-up is affecting their ‘ricebowl’
Dealing With It
One way of dealing with it is that Whei Meng catches the tiger by its tail by engaging three steps: Learn with an open heart (listening) – Engage – Diffuse.
In addition to that, rather than harping on the negative thoughts too much, he concentrates on making things much safer. As of now, tenant verification is underway in order to keep things under their radar by uploading certain details meanwhile for landlords will be the Sale and Purchase Agreement (SPA). However, he also says that there is something in store in the coming months of which we can’t wait to hear about. (pssst, we heard that it is about to come around in April 2016)
While things are still in the early stage at the moment, Speedrent is of course on its way to great heights. Once you sign into the app, Alicia is there to assist should you have any queries. She too can recommend a few properties in line with your criteria. If you still can’t find what you want, she will call upon the live savers and they will help find your home.
Plus, another thing to look out for is that there is something else coming up in March 2016 – think easier and faster way of renting a home. Here’s a start: Speedsign. With only RM199 a year or RM299 for three years inclusive of stamp duty, you are able to settle all agreement online. Yes, online. You can move in to your home without a hassle with just a tiny cost.
Although it may be Whei Meng’s hard work, he does recommend to use both Speedrent and also engage a real estate agent. That way, it could quicken the process of landlords renting out a house and a tenant finding one. He says, “Just go ahead with whichever comes first!”
Easy-peasy, smooth and breezy. Reasons why you should use the app.