THE Real Estate and Housing Developers’ Association Malaysia (Rehda) is working with the Ministry of Housing and Local Government on the proposed Residential Tenancy Act.
Rehda president Datuk Soam Heng Choon said the association will advise and give input on the Act which will provide new laws to govern the housing rental market.
He noted that Malaysians are not protected by such an Act. “This is something that we are working on and hope it will be enacted and fully implemented in the next two years.
“We have appointed a consultant to formulate the new Residency Tenancy Act,” he said on the sidelines of the Allianz Malaysia-Speedhome X Digital Innovation in Property and Insurance Market forum on Dec 4.
Soam said in advanced countries, the Residential Tenancy Act is not a mainstream rental concept.
“We just need to be prepared to adapt to the changes. The Act is to protect both the landlord and tenant with a proper tenancy agreement,” he said.
In a recent news report, the ministry’s senior principal assistant director Noorihan Abd Halim said the new Act will take two years to develop. She also said the Act is modelled after similar Acts in the Australian states of New South Wales and Victoria.
“The Act will cover the tenant as well as the landlord. Right now we don’t have any tribunal if the tenant has a dispute with the landlord. That is why we want a Residential Tenancy Act.
“”It will be positive for rentals in Malaysia, and help people move from ownership to rental, especially the B40 and M40 groups as well as young people transitioning into the working world,” Noorihan said in a report.
