Property
Residential Rent Act can see level playing field
Sonia Ramachandran | 08 Dec 2017 00:30
High time for a Residential Rent Act, say experts
One of the more intriguing sound bites of Budget 2018 tabled by Prime Minister and Finance Minister Datuk Seri Najib Razak on Oct 27 was the proposed formulation of a Residential Rent Act to protect landlords and tenants.

This inevitably begs the questions: Aren’t our current laws sufficient to deal with such matter? What key provisions should this new Act contain?

Prior to the budget announcement, Second Finance Minister Datuk Seri Johari Abdul Ghani had said at the 20th National Housing & Property Summit 2017 that there is a value proposition to establish a rental law in Malaysia to develop a more robust housing rental market.

He said rental law is one of the suggestions put forward by Bank Negara Malaysia and this needs to be discussed with the Urban Wellbeing, Housing and Local Government Minister, and the Domestic Trade, Cooperatives and Consumerism Minister.