The Residential Tenancy Act is expected to be enacted within two years, said the Real Estate and Housing Developers’ Association Malaysia (Rehda).
Its president, Datuk Soam Heng Choon, said Rehda is in talks with the Housing and Local Government Ministry on the new law governing the housing rental market.
“We have had discussions with focus groups to get feedback on the proposed act as it would benefit both homeowners and tenants,” he said after the Allianz Malaysia-Speedhome X Digital Innovation in Property and Insurance Market forum, here, yesterday.
Soam said the government would need feedback from property players first.
“The proposed act would stimulate the residential rental market,” he said, adding that it would reduce financial risk and insurance premium.
