Lease Term
Lease terms are 2 years in general with a optional break-clause for both
parties, normally that is exercisable after the first 12 months occupancy
by giving 2-3 months notice in accordance with the lease agreement.
Rent
Rental are normally exclusive of management fees, government rates, government
rent and other utilities out going, but most people will arrange an inclusive
package with the Landlord within the lease term nowadays
Management Fees
A management fee is charged by the management company payable by all occupants,
and these fees do cover security service, general cleaning, building maintenance
includes all facilities provided. These fees vary according to the number of units
in the building and facilities or service of quality provided.
Government Rates & Government Rent
These fees are charged by the rating & valuation department from the Government of
the HKSAR as property tax, the government rates are approximately 5% of the annual
rental value, and approximately 6% of annual rental value for the government rent
(government rent only subject to specific area or building). These fees are charged
quarterly in advance and payable by the Tenant.
Appliances & Furniture
Residential premises are generally let unfurnished, furniture are optional depends on
request, and basic appliances (air conditioner, stove & refrigerator) are normally included,
but lighting or curtains generally will not be included. For renting furniture please visit
Deposit
One month holding deposit are normally required upon signing the initial offer letter with the
Landlord, and these deposit will become the first month rent if the initial offer has been accepted.
Upon signing the formal tenancy agreement an additional deposit equivalent to 2-3 months' security
deposit are required, the deposit will held by the Landlord during the lease and refunded to the
Tenant without interest upon expiration of the lease. The cost of any damage or reinstatement work
necessary to the apartment, other than fair wear and tear, will be deducted from the deposit before repayment.
Legal Fees
The Tenancy Agreement is usually provided by the Landlord or his solicitor. The tenant may use a solicitor to
review the lease at his discretion. Each party is responsible for their own legal fees.
Stamp Duty
6% of the monthly rental is being charged by the stamping office from the Government of the HKSAR, payable in
equal shared between the landlord and the tenant.
Agency Fees
An introductory fee of half of one month's rental is payable by the tenant. In accordance with local practice,
the agent may also accept a fee from a third party such as the Landlord or Landlord's agent.
Utilities
Except for serviced apartments, it is the Tenant's obligation to apply all utilities account include electricity,
gas and water, a refundable deposit are required by the utilities company from the Tenant. And the Tenant's need
to apply for their own home telephone line, broadband supply and pay TV, etc.
Furniture Renting
Furniture normally will not included in most the lease (except for serviced apartment), if you require short term or
even long term furniture renting, below company might be an option.
Extra Storage
Is your home full of useless household furniture? Why don't you get an additional storage space from the following company
to save your space at home. And most of the above International moving company can provide temporary storage services if necessary.