Process to Apply for a Leasehold Extension
Why and When to Renew Your Leasehold Property?
If you own a leasehold property in Malaysia, one of the most important things to plan for is the renewal or extension of your lease. Unlike freehold properties, leasehold properties come with a time limit—typically 99 years. But what happens to your property title when that lease starts to run out?
People renew their lease for the following reasons:
•A shorter lease = less appeal to buyers
•A longer lease = confidence in your investment
•Banks don’t like short leases. The earlier you renew, the better the chances for new potential buyers.
•Trying to sell with 28 years left on the clock? Good luck. Better to renew before the red tape rolls in.
•If the lease lapses, the state can take it back. No refunds, no backsies. Just silence and regret.
•The longer you wait, the higher the premium. Don’t pay for procrastination.
6. Applying while there are rebates and discounts by the government
•People are making the most of the current ongoing rebates by the government. Click here for more info on the rebates.
How to Apply?
To extend or renew your leasehold property in Malaysia, you must submit an application to the relevant Land Office or State Government. (Source: PropertyGuru ). This includes providing supporting documents and paying a government-imposed premium. The full process typically takes between 1 to 2 years, depending on the details of the title and the authorities involved.
Don’t wait until the last minute. Reach out to us to find out how we can help simplify the process and submit your application for you!
Disclaimer: The information above is based on current data and regulations as of the date of publication. Leasehold property laws, procedures, and policies may change over time.