Speedhome and KYY Home to provide rent subsidies to affected tenants

Speedhome and KYY Home has come together to aid Malaysian tenants by providing rent subsidies throughout the Covid-19 pandemic.

The total subsidy will amount to RM 500,000.

As part of the newly announced programme, two months rental will be free for their tenants. The programme is targeted to benefit tenants whose incomes have been directly affected by the pandemic.

“Our data showed more than 10 percent of tenants may not be able to continue paying for their property because of the impact of Covid-19 on their job. In response to this challenge, SPEEDHOME and KYY HOME have joined forces to deliver this Rent Relief Package as a Corporate Responsibility Initiative so that Malaysian Tenants with Income challenges are able to deal tide over their economic problems arising from Covid-19”, said Wong Whei Meng, chief executive officer, Speedhome.

Managing director of KYY Home, Marcus Low stated, “During this difficult period, business owners who are financially well off have a responsibility to society. We are delighted to play a small part and make a difference by offering two months rental relief to our tenants. We hope this helps them in these difficult times”.

In order to get started all tenants would to have to log into an account on Speedhome. After setting up an account, they just need to search for a property marked with KYY on the website and send a chat request after watching the property video. If the tenant finds the property suitable, they can
move in.

In addition, the Speedhome platform data has also shown that compared with the past 6 months, the delayed payment of the platform’s tenants has increased by 20 percent, and the tenant default rate has also increased.

In relation to the issue, Speedhome has chosen to cooperate with KYY HOME to actively assist tenants with rental problems and relocate them.

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