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Hong Kong – Lease Agreements

In Hong Kong, the typical lease term for renting a property is two years, with an option to renew for another two years. However, shorter lease terms of one year or six months are also common, especially for serviced apartments or short-term rentals.

Furnished vs. Unfurnished Rental Properties in HK:

In Hong Kong, both furnished and unfurnished properties are available for rent. Furnished properties come with furniture and appliances such as a bed, sofa, dining table, refrigerator, washing machine, etc. Unfurnished properties, on the other hand, are rented out without any furniture or appliances, giving the tenant the option to furnish it according to their personal taste and needs.

Standard Clauses in a Lease Agreement in HK:

The standard clauses in a lease agreement in Hong Kong typically include the following:

  • Rent amount and payment terms
  • Duration of the lease
  • Maintenance and repair responsibilities
  • Restrictions on subletting and alterations to the property
  • Termination and renewal conditions

Additional Clauses in a Lease Agreement in HK:

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While not mandatory, some additional clauses that may be included in a lease agreement in Hong Kong include:

  • Security deposit: A security deposit is usually required by the landlord to cover any damages or unpaid rent at the end of the lease.
  • Pet policy: Some landlords may include a clause specifying the pet policy, such as allowing or prohibiting pets in the rental property.
  • Termination notice: The notice period required by either party to terminate the lease agreement may also be specified.

Expats Signing a Lease Contract in HK:

Expats should be especially aware of the following when signing a lease contract in Hong Kong:

  • Read the lease agreement carefully and understand all the terms and conditions before signing.
  • Be aware of the rights and responsibilities of both the tenant and the landlord.
  • Consider the location and accessibility of the property, as well as the nearby amenities and transportation options.
  • Familiarize themselves with the local housing laws and regulations.

Condition Reports in HK:

In Hong Kong, it is common for a condition report to be conducted before signing a lease agreement. This report documents the condition of the rental property, including any damages or defects, and serves as a reference for both the tenant and the landlord.

Qualifications and Licenses for Letting Agents in HK:

In Hong Kong, letting agents are required to be registered with the Estate Agents Authority (EAA) and hold a valid practicing certificate. The EAA is responsible for regulating the estate agency industry and ensuring that letting agents adhere to professional standards and ethical practices.

Association for Letting Agencies in HK:

Reputable letting agencies in Hong Kong should be members of the Hong Kong Association of Property Management Companies (HKAPMC). The HKAPMC is a non-profit organization that represents property management companies and promoting professionalism and high standards in the industry.

Contact details for HKAPMC:

Hong Kong Association of Property Management Companies
Unit 6, 10/F, Tin On Sing Commercial Building,
2-6 Tin Wan Praya Road,
Aberdeen, Hong Kong
Tel: (852) 2552 3366
Fax: (852) 2552 3038
Email: info@hkapmc.org.hk

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