Relocating to foreign country can be intimidating and at the same time it can be really daunting to find the best place for rent. Kuala Lumpur’s expatriate population is slowly increasing and demand for rental properties is extremely high. Regrettably for renters, this has resulted in high rents. Roughly, half of the inhabitants in the UAE spend about 30% or more of their income on housing expenses.
In spite of the expenses, the majority of the expats mostly in the UAE for short term work contracts chooses to rent rather than invest in the real estate market. To the relief of people searching to affordable property in kl, the government has imposed legislation ordering that any increase in rent should not exceed 5% of the yearly rent price. There are also many new property developments in progress which should take off some pressure from the market in the coming years.
Housing stipends are generally part of the expat scheme. While the past companies may cover the bill for the whole rental amount, the trend at present is for expats to be billed a certain percentage of the complete annual accommodation fee, with the rest being paid from their salary. Other fees to remember when looking for apartments for rent in Kuala Lumpur include a security deposit, monthly utilities, and possible car parking fees, 5% commission fee if the services of a real estate agent are used and municipality charges which is usually 5% of the rent. Repairs and maintenance of the property will be covered by the landlord.
Occupants are not allowed to alter the structure of the property without the permission of the owner. The rent will be usually drawn up between the tenant’s companies’ agent and the landlord. If an expat signs the rent themselves, they should have a residence visa or a letter from their employer affirming that their visa is in process. The usual duration of a rent is one year. Unlike most of the countries where rent is paid on a monthly basis, in Kuala Lumpur the whole year’s rent is usually paid upfront and most usually with 3 to 4 checks.