Govt aims to introduce Residential Tenancy Act in 2 years

The proposed Act is expected to be tabled in the Dewan Rakyat in 2020

By RAHIMI YUNUS / Pic By TMR

The government aims to introduce a Residential Tenancy Act in the next two years, targeted at protecting the interests of landlords and tenants, while facilitating the growth of the rental housing sector in the country.

National Housing Department senior principal assistant director Noorihan Abd Halim said the government is currently studying details of the proposed Act, with the first phase of the review forecast to be completed this year.

The proposed Act comes under the National Housing Policy (2018-2025) and is expected to be tabled in the Dewan Rakyat in 2020.

Noorihan said the drafting process will be completed in two years, which will include standard operating procedures and provisions for landlords and tenants.

“The proposed Act would basically cover tenants and landlords. As of now, there is no tribunal of any sort to hear tenant-landlord disputes,” she said at the Constructing and Financing Affordable Housing Across Asia Conference yesterday.

Noorihan said the study on the new law is guided by existing similar laws in Victoria and New South Wales, Australia.

She added that the proposed law would facilitate the growth of rental housing in the country, a rising trend in advanced markets.

Noorihan said it is aimed at facilitating Malaysians from the bottom 40% (B40) and middle 40% (M40) income groups to opt for rental before they can afford to buy a house.

“We are still collecting data — such as locations and their respective affordable rental prices.

“The (proposed) Act will produce positive outcomes that promote rental housing for the young, B40 or M40 professionals,” she added.

Housing and Local Government Minister Zuraida Kamaruddin previously stated that the proposed law would also look into quota allotted to Bumiputera buyers in any residential property project.