Rental prices in Malaysia can vary greatly depending on location and the type of property you are looking to rent. In general, rental prices tend to be lower in rural areas and outside of the city centers, while prices in popular expat areas, such as Kuala Lumpur and Penang, are higher.
The average monthly rental price for a one-bedroom apartment in Kuala Lumpur is around MYR 2,000-3,000 (USD 500-700), while a two-bedroom apartment can range from MYR 3,000-4,500 (USD 700-1100). In Penang, the average monthly rental price for a one-bedroom apartment is around MYR 1,500-2,500 (USD 375-600), while a two-bedroom apartment can range from MYR 2,500-4,000 (USD 600-1000).
It is important to keep in mind that these are just rough estimates and that rental prices can vary greatly depending on factors such as the location, size, and amenities of the property.
Rental Caps in Malaysia
There are no rental caps in place in Malaysia, meaning that landlords are free to set their own rental prices. However, the government does regulate the rental market in some ways, such as through the Rent Control Act 1966, which sets guidelines for rent increases and evictions.
Deposit Requirements and Rules for Return
When renting in Malaysia, tenants are typically required to pay a security deposit, which is usually one or two months’ rent. This deposit is used to cover any damages or unpaid rent at the end of the tenancy.
At the end of the tenancy, the security deposit will be returned to the tenant if the property is returned in the same condition as it was when the tenant moved in, excluding normal wear and tear. If there are any damages or unpaid rent, the landlord may deduct the costs from the security deposit.
It is important to keep in mind that the security deposit rules in Malaysia may vary depending on the lease agreement and the landlord, so it is always best to carefully read and understand the terms of the agreement before signing it.
Changes in Price and Availability
The price and availability of rentals in Malaysia can vary at different times of the year, with some fluctuations being more noticeable in the popular expat areas. During the peak tourist season, rental prices may be higher and the availability of rental properties may be lower. Additionally, rental prices in areas with high demand, such as Kuala Lumpur and Penang, may also see an increase in prices during the busy economic period, especially around major business events.
On the other hand, rental prices may decrease and the availability of properties may increase during the low season, when there are fewer tourists and businesses are less active. However, it is important to keep in mind that these changes can vary greatly depending on the specific area and type of property you are looking to rent.
Overall, it is always best to research and compare rental prices in different areas and at different times of the year to find the best deal. Additionally, working with a reputable real estate agent can also be helpful in finding a rental property that meets your needs and budget.
