The Covid-19 pandemic has affected the livelihood of many individuals who are currently facing financial difficulties amidst an unstable economic situation.
Property investment and management company KYY Home Sdn Bhd has stepped forward with several initiatives to assist its tenants, employees and the local community to lighten their financial burden.
The company’s combined corporate social responsibility efforts are valued at a total of RM2mil.
Ensuring business continuity
Noting the worrying health situation, KYY Home demonstrated its commitment to the company’s affiliates by sourcing for face masks and hand sanitisers amidst limited resources and price hikes.
The company secured and distributed 50,000 face masks and hand sanitisers to its employees, tenants and business partners, giving them additional protection against the health threat.
In addition, as an organisation that abides by human rights principles, KYY Home believes in placing its employees’ well-being as a top priority. To enable employees to stay financially stable and supported during this time, the company introduced a special allowance of 15% to 20% on top of their salaries to offer some temporary relief from financial strain.
As a property management firm, KYY Home understands that its tenants may have challenges to pay their rent due to financial constraints resulting from loss of income or unemployment.
The company is offering two months’ rental subsidies to its tenants to help them allay their financial concerns during this time.
Adopting this as one of its social responsibility initiatives, the rental subsidies are fully borne by the company and are not charged to its property investors.
“When the movement control order (MCO) was imposed, we reached out to our tenants and discovered that a majority of them are challenged by the various constraints on their finances. This is when the company decided that rental subsidies must be given to help our tenants through the hardship, ” said KYY Home founder and CEO K.Y. Lim.
According to Lim, the rental subsidies helped to ease the cash flow of more than 1,200 tenants during this challenging time.
The offer is extended to new tenants in partnership with Speedrent Technology Sdn Bhd, a property technology firm that offers secure home rental solutions via its online platform www.speedhome.com.
Malaysian tenants can rent a KYY property from Speedhome and apply for the two-month rent subsidy amounting to a total of RM500,000.
“During this difficult period, business owners who are financially sound have a responsibility towards society, ” said KYY Home managing director Marcus Low. “We are delighted to play a small part in making a difference by offering two months of rental subsidies to our tenants. We hope that this will help them out financially and enable them to thrive better during these challenging times.”
Source: The Star