Putrajaya has been cautioned against restricting the rights of landlords in a new law which is aimed at preventing racial discrimination in the property market.

The National House Buyers Association (HBA) said the proposed Residential Tenancy Act which the government intends to table in Parliament next year, should not restrict the landlord’s rights to reject a potential tenant or evict an existing one.

“HBA is against racial discrimination but if an owner meets a potential tenant who seems problematic, they should have the right not to let their property,” HBA said in a statement.

“No landlord would want to be faced with the additional expenses of fixing a badly damaged property as the current deposit of two months’ rent and half month utility deposit are inadequate in most cases,” it said.

The association said the relationship between a landlord and tenant should not be violated by terms and conditions set by a third party.

The HBA said housing loans have included terms that the properties cannot be used for illegal or criminal activities, and any damage to the house or any detrimental activity conducted within can have serious repercussions to the owner.

“A landlord that carefully chooses a tenant to ensure the tenant is not a criminal is also abiding by the terms of his housing loan agreement,” it said. Poor tenant choice could also devalue the property, especially for stratified properties.

It also questioned how the ministry will determine whether a potential tenant is rejected based on skin colour. “Is the ministry only to rely on the complaints of the disgruntled rejected potential tenant? Will the minister and those under her charge accompany potential tenants to meet potential landlords to ensure no racial discrimination?”

HBA said the RTA should instead enhance remedies to resolve disputes between landlords and tenants.

It also proposed for the ministry to form a residential tenancy tribunal to settle disputes between landlord and tenant.

HBA said the government should address real housing issues such as expensive properties, especially in urban areas which is due to the cost of construction being levied heavily on house buyers instead of developers.

There are also issues of abandoned projects and unlicensed developers, it said.

“There are 281 private licensed housing developments certified as abandoned projects between 2009 until July 2020. These 281 abandoned projects are equivalent to 73,959 housing units which affect 48,810 house buyers,”

Source: FMT News

A proposed residential development by Super Greenview Sdn. Bhd. at Nibong Tebal. Located on a 2.65 acres narrow land along Jalan Bukit Panchor, right next to Bukit Panchor Health Clinic. It is only a 5 minutes drive from Jawi Toll Plaza, less 2km to Nibong Tebal KTM Station. Schools and colleges within 5km drive include USM Engineering Campus, Industrial Training Institute, Nibong Tebal Vocational College, SMK Tunku Abdul Rahman and SMK Saujana Indah.

This development will feature 24-units of 2-storey semi-detached houses. More details to be available upon official launch.

Project Name: (to be confirmed)
Location: Nibong Tebal, Penang
Property Type: 2-storey semi-detached
Total Units: 24
Built-up Size: (to be confirmed)
Land Tenure: Freehold
Indicative Price: (to be confirmed)
Developer: Super Greenview Sdn. Bhd.

Location Map:

A law, which among others aims to address issues of racial discrimination in the property market, would be tabled in Parliament early next year, says Zuraida Kamaruddin.

Bernama quoted the Housing and Local Government Minister as saying that the law, known as the Residential Tenancy Act (RTA), was still being drafted and is expected to be ready by the end of the year.

She said this to reporters after a working visit to the Hulu Langat Zone Fire and Rescue Department’s sacrificial ritual programme here on Friday (July 31).

In January, Zuraida said that the RTA would help address the issue of racial discrimination following incidents of landlords refusing to accept tenants due to their ethnicity.

According to a Star Exclusive report last year, it was reported that tenants seeking to rent rooms or homes feel that Malaysian landlords continue to place too much emphasis on race.

One in five Malaysians or 21% of 1,204 Malaysians surveyed, claimed to have experienced discrimination based on their ethnicity when seeking a place to rent.

A study by YouGov Omnibus showed that about 46% of Indians polled claimed to have faced discrimination.

This is higher than local Chinese (20%) and Malays (18%), who have faced ethnic discrimination when surveyed.

The findings is based on a survey involving 1,204 Malaysians, aged 18 and above.

Source: TheStar.com.my

About Imperial Grande

A mixed development by Modular Platinum Sdn. Bhd. (Ideal Property Group) in Sungai Ara, Penang. It is located along Jalan Fettes, surrounded by Iconic Skies, Gardens Ville and Imperial Residence. This development will offer a mix of landed and high-rise properties, with 2 level of shop offices located below the residential tower.

Find out more about Imperial Grande

The loan repayment flexibility will be opened for application from Aug 7, 2020, Bank Negara Malaysia (BNM) (pictured) announced yesterday.

In its media statement after Prime Minister Tan Sri Muhyiddin Yassin’s announcement yesterday concerning the extension of loan repayment moratorium, BNM noted that it has told banks to deliver a simplified application and documentation process for borrowers.

“In recognition of these exceptional circumstances, the flexibilities provided to borrowers during this period will not appear in the CCRIS reports of borrowers,” said the statement.

To ease concerns of borrowers with loans from multiple banks, BNM added that borrowers could also approach the relevant “one-stop” centre — Agensi Kaunseling dan Pengurusan Kredit (AKPK) or Small Debt Resolution Scheme (SDRS) to work out an appropriate assistance package.

“Banks have also committed to provide repayment flexibility to other individuals and all SME borrowers affected by Covid-19.

“The flexibility offered by each bank will take into account the specific circumstances of borrowers, such as allowing borrowers to pay only the interest portion of the loan over a period of time; lengthening the overall period of the loan to reduce monthly instalments; or providing other forms of flexibility until a borrower is in a more stable position to resume repayments in full,” BNM said.

To recap, Muhyiddin yesterdar announced fresh measures to provide a targeted extension of the moratorium and repayment flexibility to individuals and SMEs who continue to be affected by Covid-19.

Under the measure, the banking industry will provide a targeted moratorium extension and provision of repayment flexibility to individuals who have lost their jobs in 2020 and have yet to find a job will be offered an extension of the loan moratorium for a further three months by their banks.

The measure is also extended to individuals who are still in employment but whose salaries have been affected due to Covid-19. They will be offered a reduction in loan instalment in proportion to their salary reduction, depending on the type of financing. Banks will also offer the flexibility for a period of at least six months and consider extending the flexibility at the end of that period, bearing in mind the salary of the borrower at that time.

Meanwhile, for hire purchase financing, affected borrowers will be offered revised instalment schedules that are consistent with the Hire-Purchase Act 1967.

Source: EdgeProp.my