A lease agreement should define the deposits you must pay to obtain the lease of the property. As a general rule, you have to pay three different deposits. For leases, the tenant is required to pay stamp duty. The tenant can also ask his agent (if any) to support him if he is not familiar with the process. But for those who rent, whether you`re the landlord or the tenant, you`ll probably find that there`s a green poop in the agreement. It might be as cheap as RM10, but depending on your monthly rent, you could pay almost RM1,000. So why would it cost so much to have a little chop like this on his document? This small green chop is actually a necessary part for property contracts, and is called a stamp duty. Malaysia has not adopted specific legislation governing leases; Therefore, there is no standard form for leases and the content of these contracts is left at the disposal of the landlord and tenant. For example, your landlord wants to drive you out of the house after renting his house for two months. But in the agreement, it says that you can stay in the house for 2 years. You will take this matter to court to resolve your dispute.
Now, whether your agreement is stamped or not, it makes a big difference. Rightly so, the tenants are the ones who pay stamp duty. The party that is required to pay stamp duty is generally indicated in the agreements. For example, if you are renting a property, the rental agreement should indicate who should pay stamp duty. Source: IRAS. (It also applies that if you are good at negotiations, the landlord can refund or pay the stamp duty amount for you, but the payment should always be made on behalf of the tenant). I simplified the message in this article. Thank you for reporting it and for informing us! Have a good day 🙂 Go ahead! Once the lease is signed and stamped, you may be on your way to earn extra income! Leases are only required after being stamped by the Stamp Board and the stamp is usually ordered by the owner.