Fees and scope
MyLoft manages whole-unit, long-term residential rentals for owners in selected Penang Island areas. The ongoing management fee is straightforward, and the costs that stay separate are set out plainly below.
No separate agent or tenant-placement fee. MyLoft’s ongoing management fee is 10% of rent actually collected.
Tenant-placement timing: we target tenant placement within 30 days after the property is rent-ready, access is available, the asking rent is approved, required listing information is complete and active marketing begins. Actual timing depends on asking rent, property condition, location, market demand, viewing access, furnishing, tenant suitability and owner decisions. If MyReno is used, renovation or furnishing and rent-ready handover must be complete first. This is not a guarantee, verified average or refund promise.
Labelled illustration
Before other applicable property expenses, documentation or stamping charges where relevant, and agreed deductions. This is an illustration, not a guaranteed final owner payout.
Quick calculator
Before other applicable property expenses, documentation or stamping charges where relevant, and agreed deductions. This is an illustration, not a guaranteed final owner payout. No separate agent, placement, advertising, listing or renewal fee applies; a RM250 documentation fee applies and stamping fees are additional if required, both borne by the owner.
Request a Property AssessmentReal owner statement example
Queens Residences Q2, Bayan Lepas · October 2026
The statement shows a 90% owner share. The RM250 management fee is calculated as 10% of the RM2,500 rent collected. This example covers one property for one month and is not a rental benchmark for Queens Residences Q2.
For the fuller description of each activity, see the service explanation on the homepage.
MyLoft coordinates the work below, but the underlying third-party costs are the owner’s and are agreed before anything proceeds. Repairs, furnishing and renovation are not included in the management fee.
Preparing a unit before renting? MyReno handles rental-ready renovation and furnishing separately.
Tenant security deposits are held and administered by MyLoft Management according to the applicable tenancy agreement. The deposit amount is set by that agreement. Outstanding rent, relevant tenant bills, or permitted property-damage and tenancy deductions may be taken from it where allowed. The refundable balance is returned within 14 days after move-out, subject to inspection, return of keys and access devices, and final reconciliation. If the deposit does not fully cover an outstanding amount, the remaining treatment follows the tenancy and management agreements.
Our full-time finance administration team follows up rental payments, relevant tenant bills and outstanding amounts. MyLoft does not guarantee tenant payment, advance unpaid rent or bills, or promise that the deposit will cover every shortfall.
Owner statements are prepared and payouts are processed at the end of each month. Relevant rent collected, expenses, deductions, outstanding payments and late collections should be itemised. Month-end payout amounts depend on rent actually collected and completion of the relevant monthly reconciliation. The management fee is never calculated on uncollected rent.
MyLoft may coordinate repairs costing up to and including RM500 per incident without obtaining prior owner approval. Repairs exceeding RM500 require prior owner approval. Repair and replacement costs remain owner expenses unless otherwise agreed. Emergency action needed to protect occupants or prevent material property damage follows the signed management agreement.
MyLoft coordinates move-in and move-out condition checks. Additional issue-based or scheduled inspections may be arranged according to the property’s management scope and owner agreement.
Available appointment periods range from six months to two years, subject to the agreed arrangement. The standard termination notice is three months. If a tenant remains and MyLoft continues collecting rent and performing management duties, the 10% fee continues during that management period. The final management end date and handover of records, keys, deposits and tenancy responsibilities follow the signed owner agreement and the status of any active tenancy.
MyLoft coordinates and manages the rental; third-party repair, furnishing and renovation costs are quoted and borne separately.
Your signed agreement confirms the deposit amount and permitted deductions, any additional inspection scope, emergency repair process, active-tenancy handover, final reconciliation and precise management end date.
See selected MyLoft whole-unit rental examples and what those September 2026 supplied figures do and do not show.
Deciding between renting the whole unit or by room? Compare whole-unit and room-rental approaches. Owning from abroad? Preparing to manage your Penang property from overseas?
