Friday, 17 February 2012

Beware when you rent your property out!

A few days ago, a colleague of mine returned from the Federal Court in Putrajaya with some advice that she asked us to share with friends. A senior judge had apparently told her that recently there is huge increase in cases on going and pending in court regarding foreigners from a particular country (I am not going to name that country but if you do follow news, you will know) doing illegal activities in Malaysia from drugs to money laundering to falsification of documents.
But the point the judge want to stress is that many property owners end up having trouble with the authority when the properties that they rent out to those foreigners were used in doing  illegal activities.
We are aware that many property owners usually do not check much further after they rent their property out and they are not really aware of what these people are doing. Some even let the agents to settle everything without even meeting their prospective tenant. I know that a lot of people feel happy that their property is rented out and they do not care much after that as long as the receive payments on time.
 Many tenants claimed to be students or business expatriates or etc. but we do not know if they are here for something illegal. As a note caution, check carefully before you rent your property out. Maybe it is good to check with the university or company that they claim they are attached with to confirm their authenticity. And also it is good to do spot check on your property once a while to see what they are doing with your property. Worst case scenario, property owners can be convicted alongside the culprits or have your property confiscated by the authority.
It is always good to be cautious. Do not let one day when the police ring on your door bell only for you to regret. Please help to spread this message to your friends. Together, we can make difference.
PS: I would like to share a story that happened to my family that had a quite similar scenario. Many years ago my grandfather shared a piece of plantation land with his friend. Those days, my grandfather would always put his sons as the owners of his plantations or properties. On his friend’s side, his friend put one of his brothers as the co-owners.Not long later, my grandfather’s friend’s brother was accused of being a drug dealer. I do not know what happen next to his brother but what I knew was the police was investigating my family and asked us to produce proof for many things to assert that we are not aware of the drugs activities and we are innocent. We are lucky that we have the documentations to prove the source of income that enable us to buy the plantation and the police was convinced that we are innocent. Since then our whole family learned a good lesson never to buy any properties on a sharing basis between friends. I was still in primary school then but lesson lingers on. Always be cautious when it involved properties be it you share it with friends or you rent it out.

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