StarProperty Awards 2019 - Real Estate, September 19, 2019. GLENN GUAN/The Star.

Terence Tih of Tech Real Estate is the Outstanding Rental Transaction Negotiator (by value) award winner at the 2019 StarProperty Real Estate Awards, the most prestigious annual awards event for practitioners of real estate in Malaysia. In an exclusive interview with StarProperty, he speaks about his recent win, rental hotspots around the country, and what makes a good landlord.

You have won the outstanding award for the Most Transacted Rentals in Value at the StarProperty Real Estate Awards for three consecutive years, do you believe that 2020 will be another year of rental transactions outweighing sales?

First of all, I am truly honoured to receive the Most Transacted Rentals in Value Awards for three consecutive years and I'm thankful to StarProperty and my agency Tech Real Estate for their continuous support.

Based on property consultancy CBRE|WTW’s research, it is estimated that out of the more than two million households in the Klang Valley, about 70% are owner-occupiers. The rest are renters. As the economy is still considered to be slow, it is a tenant’s market and prospective homeowners should find the best rental deals while saving up to buy a property later.

Given your expertise in the rental market, our readers would probably like to get tips from you regarding areas to invest in a rental property. You likely have clients all over the country – so where in the country, or in the Klang Valley, would you say is a safe bet for starting out as a landlord?

With changing lifestyles, there’s no doubt that living in rental properties is an attractive proposition, particularly for younger age groups. That means rental properties in areas that are favourable with younger demographics could be a smart choice. That’s particularly true of areas with reliable short-term populations such as educational hubs and near major universities.

Do you have any advice for landlords on keeping good tenants? What makes a good landlord?

Once you’ve found a good tenant there are a few things you can do as a landlord to keep them happy and encourage them to stick around.

1) Attend to repairs and requests in a timely manner.
2) Realise that although this is your property, it is the tenant’s home. Show them respect and courtesy and allow them privacy
3) Be open to the tenant’s requests and be willing to compromise
4) Be fair and gradual with your rent reviews.

You were hesitant to make any predictions or assumptions about the property market in 2019, are you more willing to consider 2020 to be a year of sharply rising property prices, or will it be more of the same with most property owners relying on being landlords rather than sellers?

The Malaysian property market, which has been lacklustre for the past few years, may see an uptick next year as housing demand remains strong.

In your opinion, how have the efforts of developers to entice buyers fared in the last year? Are they doing better or worse than in 2018?

Developers are offering creative financing packages to attract potential home buyers, given the sluggish property market and the stringent criteria of banks in granting housing loans. I believe developers are doing better now than before.

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