Tenancy Agreement Stamping Online

Tenancy Agreement Stamping Online: The Convenient Option for Property Owners

In Malaysia, the stamping of a tenancy agreement is a legal requirement that protects both the tenant and the landlord. The National Land Code Section 42(1) mandates that all tenancy agreements must be stamped within 30 days of signing. Failure to comply with this requirement can result in a penalty fee.

Traditionally, tenancy agreement stamping was done physically at the Inland Revenue Board (IRB) offices or appointed stamping agents. However, this process can be time-consuming and inconvenient for property owners. With the advancement of technology, the online stamping of tenancy agreements has become a popular option.

Here are some reasons why property owners should consider online tenancy agreement stamping:

1. Convenience

Online tenancy agreement stamping allows property owners to avoid the hassle of traveling to the IRB offices or stamping agents. The process can be done from the comfort of their own homes or offices, saving time and effort.

2. Accessibility

With online tenancy agreement stamping, property owners can access the service at any time of the day. This is especially helpful for those who have busy schedules or work odd hours.

3. Cost-effective

Online tenancy agreement stamping services are often cheaper than traditional stamping agents. This can help property owners save money while still meeting the legal requirements.

4. Faster processing

Online tenancy agreement stamping services typically have shorter processing times compared to physical stamping agents. This means that the landlord and tenant can start the tenancy agreement without delay.

5. Easier record-keeping

Online tenancy agreement stamping services provide digital copies of the stamped agreement. This makes it easier for property owners to keep track of their agreements and access them when needed.

To stamp a tenancy agreement online, property owners need to register for an account with the IRB`s e-stamping portal. They will need to provide their personal details, such as name, IC number, and contact details. Once the account is created, property owners can upload their tenancy agreement and pay the stamp duty online.

It is important to note that the stamp duty fee is determined by the monthly rental amount and the duration of the tenancy agreement. Property owners can use the IRB`s stamp duty calculator to determine the amount they need to pay.

In conclusion, online tenancy agreement stamping is a convenient and cost-effective option for property owners. It saves time and effort, provides easier record-keeping, and allows for faster processing times. Property owners should consider this option to comply with the legal requirements while making their lives easier.