Welcome!
This Frequently Asked Questions (FAQ) page is a list of common questions people have asked about how to use Rentlab for Tenants, Landlords, and Property Agents.
If you are unable to find the answer to your question in this page, feel free to contact us at +6011 57 300 759 or email info@rentlab.com.my.
Frequently Asked Questions
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General FAQ
Rentlab.com.my is Malaysia’s first-of-its-kind rental property listing and bidding portal. We aim to provide an end-to-end property rental solution and an ecosystem to serve all your rental needs.
Rentlab is designed for property owners (landlords), licensed real estate agents or negotiators (CREN), and tenants.
Anyone can register as a user for free. However, only verified users are able to list a property or to bid on the Rentlab portal.
After registering as a user, go to My Profile (link: https://rentlab.my/account/) to complete your profile info and to provide your NRIC/passport information for the identity verification process.
Once your use account is verified, your account will be activated and you can proceed to list your properties or bid for other rental properties.
This is to ensure that the bidding process is conducted in a fair and secure manner for the benefit of all users. Each user should have only one account to bid.
No, it is totally free.
Not at the moment. The portal is designed for property renting for now.
Tenant FAQ
First, you need to sign up for a FREE user account. Second, completed your user profile page with your personal info and identification for verification. Once your user account is activated you can start to bid.
For more info on the bidding process, please visit the Tutorial & Guides page : https://rentlab.com.my/tutorial-guides
No, you do not need to pay to bid or make an offer for any properties.
However, once the bidding period ends and you emerge as one of the top 3 bidders, you will be prompted to pay a consideration sum within 48 hours.
The consideration sum is equivalent to 10% of your rental bid amount or RM500, whichever is higher.
As the top 3 bidders from the completed bidding session, this refundable consideration sum payment is to qualify you for the selection process by the owner and it also determines your genuine interest in renting the property.
You will receive an email notification if you are one of the Top 3 bidders at the end of the bidding period.
Or go to My Properties>MyBids and click the Make Payment button.
Currently the consideration sum payment is done via credit card only. The amount is ‘locked’ on your credit card (via pre-authorisation method). Thus the amount is not charged at this stage.
Your consideration sum will be refunded to you within 7 days.
An email notification will be sent to both you and the landlord, after which you and the landlord need to execute a tenancy agreement to complete the transaction.
If you have not paid the consideration sum, you may withdraw from the bid. However once you have paid the consideration sum and if your offer is accepted, you will need to check if you qualify for cancellation or refund. For more details, please refer to https://rentlab.my/refund-policy/
Accurate and up-to-date information about the property are provided, including the property details, rental terms, location map, photos, videos, virtual tours, 2D and 3D floor plans etc, where relevant
Photos, videos, virtual tours and/or 3D floor plans allows you to conveniently view the property digitally anywhere, anytime! You may request the landlord / agent to schedule a visit to the property for inspection after winning the bid
When placing a bid, you can specify the tenancy commencement and expiry date you require, the usage of the space, and any special request to the Landlord. These info will be taken into consideration by the landlord to accept any offers.
Landlord & Agents FAQ
Once you have signed in as a verified user, go to My Properties>Add Property. Fill in the property information following the guidelines with the relevant information required. For more information, please visit the tutorials & guides page at https://rentlab.com.my/tutorial-guides
To help you prepare for the information required, please download Form RA-2 : Property details and checklist.
Rentlab allows you to set a time frame at your discretion to receive offers/bids from tenants. At the end of the bidding period, you can view the offers online in a transparent manner. You will know exactly how many tenants are interested and their offers for your property.
This gives you better control to track the interest and to amend your property listings accordingly.
You can list the same property again free of charge on rentlab.com.my and make the necessary adjustments.
Yes you can.
No. Each property can only have one bidding session active at any time. You need to ensure that you, your representatives or your agents do not have a duplicate listing for the property .
Form RA-1 – Authorisation and Instruction To List letter is required to be completed and attached when your representative or agent lists a property on Rentlab.com.my.
You can contact us for our ListVerify service where we will send a team to inspect the property you listed. If the property information is provided correctly, your listing will be awarded a Property Verified label. Both the labels will provide confidence to more potential tenants to make an offer to your property or to bid at a higher rate.
You can also provide us documents to show that you are the rightful owner of the property when you add a property listing. Once verified, you will be awarded the Ownership Verified label.
Yes, you may share the link on social media or other channels to attract more tenants to make offers and bid for the property.
Once the bidding period ends, the top 3 bidders will be given 48 hours to pay a sum of 10% of their bid amount, or RM500 whichever is higher, as a consideration sum for their bid. Those who paid will be deemed as genuine bidders and their bids as qualified offers.
You will then have 48 hours to review the qualified offers and accept the most suitable tenant for your property.
Not necessarily. You can choose the most suitable offer based on the rent amount offered, date of vacant possession tenancy commencement 7 expiry dates, property usage, as well as other requirements the tenant offered together with the bid.
In the worst case scenario where none of the offers are suitable, you can choose not to accept any of the offers. Your property listing shall end and you may list again with revised terms.
We do not review the tenant’s profile at this moment. As we practise a non-discriminatory policy, we encourage you to choose a suitable tenant based on their offers as mentioned above.
A tenant’s background check, or scoring and review system shall be introduced soon to aid your selection process.
The real estate agent/negotiator shall inform/update the landlord during and at the end of the bidding process. The agent/negotiator shall present to the landlord the qualified offers and get the landlord to decide on the tenant selection. At this point, the agent/negotiator who listed the property shall accept the tenant on the portal on behalf of the landlord.
Once you have selected your suitable tenant, both of you shall be notified via email on the successful offer. You will then have to appoint a lawyer and execute the tenancy agreement with your tenant within 14 days.
In the near future, you will be able to choose from a list of our panel lawyers, or select our smart tenancy agreement service with e-signing and e-stamping services.
You can collect the balance security and utilities deposits from the tenant upon execution of the tenancy agreement. The consideration sum paid by the tenant earlier shall be treated as partial payment paid for the security deposit.
If you require professional help to assist you to list your property on Rentlab portal, you may contact us for our value-added ListAssist service.
For more value-added services, please visit our Shop page https://rentlab.my/shop
You can only edit the info while safted as draft. The listings can’t be edited once it’s published for bidding. Hence we advise you to ensure the accuracy of all info before publishing it. If you need assistance, you can contact customer service.
The duration for the renting period will be at the discretion of depend on the landlords themselves. However, we recommend a minimum rent period of 1 month
