Saving Income On Rent: Shaping Better Living Experiences With LiveIn

In dealing with the lockdown, LiveIn introduces solutions for affordable living made easy and hassle-free in Malaysian central cities


Today, the gap in living needs among young people in Malaysian central cities has grown ever wider. Property values are at an all-time high, as experts note that prices have doubled since 2010. The idea that young adults could own property is further diminished based on the average monthly income earned. Existing property platforms focus on either sales or rental by the total unit, and affordable solutions involve either a sacrifice of conducive living conditions or an hour-long travel time.
In addition, the pandemic is still rampant on Malaysian shores and has accelerated the thoughts of many to prioritising renting with flexibility while dealing with uncertainties. Based on research conducted at LiveIn. com, people who previously had a higher budget to rent/rent-share an entire unit are now instead considering downsizing their living standards. Young Malaysians are now looking for a flexible lifestyle – opting to rent a space that comes with a better living experience instead.

How then do young Malaysians find a roof over their heads without breaking the bank?

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The simple solution is to rent rooms rather than units. Instead of renting out the entire unit for MYR2,000, LiveIn rents out at RM800 per room – wfully furnished with high-speed WiFi, cleaning, and maintenance services in condominiums with amenities and facilities. LiveIn does this by working with property owners to shape empty properties in the market into better living experiences for young people. LiveIn focuses on turning oversupplied empty properties into affordable rental homes, covering condominium and apartment buildings.
The rental market’s best kept secret
In Malaysia, there is close to RM42 billion worth of unsold property in the market. What this represents is enormous oversupply and competition to property owners who are facing issues in securing tenants. Considering this, LiveIn’s process to onboard owners and property owners is simple. The moment owners decide to onboard their properties with LiveIn, they sign the paper, rest at home and wait for their rental income.
Thus, LiveIn is addressing this macroeconomic problem of young people’s living needs in central cities by matching the gap of these two groups of owners and tenants. As testament to this commitment, LiveIn started the Pay-What-You-Can campaign which is a rent-relief programme to assist its tenants in April 2020 – at the time when the Movement Control Order (MCO) was at its peak. Many tenants had to move out due to salary cuts or job losses while some of them were students halfway through studies, unsure of whether their university would reopen.
By working closely with LiveIn owners about its campaign and getting support to lower down rental, LiveIn managed to ensure security for its tenants. LiveIn also reached out to more young Malaysians to introduce this unique rental solution to them.
To address concerns that involve physical inspections of the rooms for prospective tenants before they decide to rent, virtual room tours through live videos to minimise the need for travelling were added. In addition, for tenants uncertain on committing to a tenancy due to job or education uncertainty, LiveIn introduced flexible terms whereby tenants are now able to rent rooms monthly at no additional cost.
LiveIn policies helped address many such scenarios that tenants might be going through where flexibility was highly appreciated in considering possibilities such as job transitions or changing of university timetables etc during the lockdown. The property market continues to remain soft in the second half of the year, but LiveIn looks to the future with ideas of revolutionising the property–tech space by introducing better living experiences for the young people of Malaysia via affordable rental solutions incorporating an easy and hassle-free process.

LiveIn.com is a SEAsia-focussed long-stay platform. Focus on turning empty properties in the central cities to be affordable rental homes for the young people.
* Opinions expressed here are those of the contributor and are accurate at the time of print.

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