Selangor To Offer 983 Rent-To-Own Homes Next Year

The state government of Selangor is expected to rent out 983 residential units next year under its Selangor Smart Sewa programme, reported The Star.

State Housing and Urban Living Committee Chairman Haniza Talha revealed that 341 units have already been rented out under the programme, while 101 more units would be offered to the public by month end.

Meanwhile, another 541 units are still under construction and are expected to be rented out by 2020.

The units that are currently rented out are found in Azaria, Asteria and Pangsapuri Arista in Klang, Pangsapuri Rimba Jaya and Pangsapuri Tun Teja in Shah Alam as well as Bandar Seri Coalfields in Ijok.

“The Selangor Smart Sewa programme is to help those who cannot secure end-financing to own a property by providing them houses at reasonable rental rates while helping them save for the initial cost to own a home,” said Haniza.

Read More: Rental Income Is Now Exempted From Income Tax Malaysia

“Under the programme, they can rent the unit for only five years. After the contract period, 30 percent of the rental paid by the tenant will be set aside and refunded as an incentive for the tenant to buy their own home.”

Residents would also be given priority by the state, via the Selangor Housing and Property Board (LHPS), when buying available Rumah Selangorku units, she added.

Haniza was responding to Daroyah Alwi (PH-Sementa) who asked for updates on the programme.

 

Image source from The Star

 

Let us help you find the right property to purchase with our comprehensive property comparison page! Click here.