Business Idea for Online Rental Websites in Malaysia

How You Can Generate Some Monthly Income From Rental Websites in Malaysia Using Your Expertise as a Web Developer

Businesses and companies have embarked on marketing their product and services online. They now prefer an easy route of doing so. Instead of maintaining their own websites, they go for rental websites in Malaysia.

Aspiring business owners in Malaysia that own a website would look for a lesser product which a particular individual would want to use temporarily and rent it. The owner will then charge some fees per day on the rented item. How will the website owner earn some money?

Associate-to-Associate Renting

There are several ways the owner can make money from the associate-to-associate renting marketplace in Malaysia.

  • Commission charges: You may agree with the product owner that you charge a minimal fee for every booking of that product or service. When clients get into your rental website and make some bookings, you earn some commission.
  • Showcased listing: Any company or business that would want to get their products showcased in the top search results on your rental websites will have charges.

The moment you decide to pick up this business idea of rental websites, your task now would be to legitimize it to a fully-fledged business. In Malaysia, the ease of launching a business is straightforward. Here is a guide on what you can do to start your own rental website business:

Determine the Type of Business

There are several varying types of businesses in Malaysia, and each entity has its own requirements. You’re only limited to two general business entities: the locally incorporated company or foreign-owned company.

Business Idea for Online Rental Websites in Malaysia

The only time you can be permitted to set up a sole proprietorship or a partnership in Malaysia is on condition that you’re a permanent residence (PR). A foreigner can have either setting up a private limited company, Labuan company, or a representative office.

Incorporating Your Business

Every business in Malaysia requires incorporation. The process of legitimizing your business begins at the Suruhanjaya Syarikat Malaysia (SSM) by presenting your documents. The presentation should be done three months after the approval of your business name by SSM. Afterwards, you will be required to pay a registration fee of RM1,000 before being issued with a certificate of registration an hour after payment of the transaction fee.

Commercial-space for Your Business

Most Malaysians think of starting big when it comes to launching a business, but that should not be the case. If you’re a web developer and want to venture in the rental website and can afford to commercial-space office, that great!

You can decide to consult and engage some professional to assist you in your business or do it yourself. One such company is 3E Accounting Malaysia.