What is a standard Lease Term for renting?

A standard residential Lease Term in Hong Kong is two years, consisting of one year Fixed and one year Option. Only when the one year Fixed Term has expired there is break clause which allows the early Termination of the Tenancy provided that a written notice is given to the Landlord 2 months in advance. So for a standard Tenancy Agreement the minimum Lease Term is 14 months, consisting of the 12 months fixed Term and the 2 months required for the advanced notice of Termination.

Can I rent an apartment for less than a year?

There is no minimum Term for a Term of tenancy in Hong Kong, but nearly all Landlords prefer to rent at the standard two year Lease Term. If you are looking for a Short Term Lease in Hong Kong it is highly advisable to consider a serviced apartment where Terms are flexible and in Hong Kong there are a plethora of options that can suit your budget.

What are the costs associated to rent?

There is a stamp duty fee which for a standard Lease Term (exceeding one year but not exceeding three years) is 0.5 percent of the average yearly rent, this duty is payable in equal shares by the Landlord and Tenant. In addition, if you rent through estate agent, there is the estate agents fee of half a month’s rental.

How much is the deposit in-order to rent an apartment?

The standard deposit in Hong Kong is 2 months worth of rental. Provided that there is no breach of any of the Terms and conditions of the Tenancy Agreement, the Deposit will be refunded to the Tenant without interest from the date of delivery of vacant possession of the Premises. Note that in a standard Tenancy Agreement, in the case that the Landlord suffered a loss or damage other than from normal wear and tear and as a result of the Tenant’s breach, the Landlord may deduct this loss from this Deposit.

All together how much outlay is needed to rent an apartment?

When signing a Formal Tenancy Agreement, the normal requirement is the 2 months worth of rental for the security deposit, 1 month rent in advance, half month’s estate agents commission, and stamp duty payable to “the Government of the HKSAR”.
What documentation do I need in order to sign an agreement?You will need a Hong Kong Identification Card or your Passport, as well as proof of income, for example employment contract or past three months bank statement showing salary income.

Does the rent include the Utilities?

In Hong Kong the houses for rent do not include the Utilities.

Can I bring pets?

We are pet friendly community. However we would ask you to keep your pets off the furniture. Always carry a lint brush or dust remover with you. If Fido sleeps with you, you will need to bring a bed cover to put on top of the bedding. Always feed your pet in the kitchen or bathroom, never on the carpet and place a newspaper or towel under the food dish. Always be considerate of other guests. If your dog causes disruption to other guests, you will be evicted. Carry plastic bags and paper towels for clean up duty. There may be pet stations along the pet walk route, but we cannot guarantee the bag holder will be full. If your pup causes damage to someone’s property, you will be charged for the repair or replacement.

Can I sublet the apartment or get a flat mate?

There is a standard clause in a Tenancy Agreement that states that a Tenant shall not assign, transfer, sublet or part with the possession of the Premises or any part thereof to any other person during the Term of Tenancy and the Tenancy shall be personal to the Tenant named in the agreement. Unless prior arrangement is made between the Landlord and Tenant, any subletting can cause a breach of the contract.

More questions? Contact us by email info@leyburnvillas.com or phone +852 91665333.

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