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Rental Tips

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When making an offer to lease a property there are several points to be considered:

  • Rental – the price is agreed by the landlord and the tenant and is applicable for the duration of the lease. Rental is usually paid monthly in advance and is exclusive of management fees and government rates.
  • Management Fees – cover the general maintenance of the building and its facilities and are usually paid monthly by the tenant.
  • Government Rent And Rates – are a tax based on the property’s rental value and are paid quarterly by the tenant to the government.
  • Lease – commencement date and the duration of the lease, usually one to two years although shorter terms are often available.

Your consultant will then liaise with you, your company or the solicitor in reviewing the formal tenancy agreement, which becomes legally binding once signed by the landlord and tenant.

Your consultant will be able to advise you on the payments needed at the various stages of renting a home. The major expenses are:

  • Holding Deposit – equivalent to one month’s rental, payable upon the landlord accepting your offer. This subsequently becomes the first month’s rent.
  • Security Deposit – equivalent to two months’ rental, payable upon signing the formal tenancy agreement and kept by the landlord throughout the term of the tenancy. The security deposit is repaid at the end of the lease without interest.
  • Stamp Duty – charged by the HK government at the rate of 0.5% of the annual rental, shared between the tenant and the landlord, payable upon signing the formal tenancy agreement.
  • Legal Fees – each party is responsible for paying its own legal fees if they choose to consult a solicitor.
  • Utility Deposits – vary between utility companies and are usually payable at the time of connection.
  • Agency Fee – all our services are entirely free of charge until you’ve made your choice of home. The fee for introducing you to your home is the equivalent of one half of one month’s rental, payable upon the signing of formal tenancy agreement.

Your consultant will check with the landlord that the property is ready to move into and will then hand over your home to you. Unlike many other agencies, our work is not finished when you move in; our after-sales service ensures that we will assist in resolving any problems you may encounter as you settle into your new home.

We look forward to assisting you in your search for the perfect property and to saying “Welcome Home!”

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