Hong Kong Orientation Guide

Boththe tenantandthewitnessmustprovidetheirHKIDnumberorcopyofpassportwith their signatures. The tenant will also need to provide;

+ Business Card. + Security Deposit. + Occasionally, the landlord may request a Proof of Income Letter.

WARNING

Ifthepropertyissubjecttoamortgage,aLetterofConsentorotherwiseknownasaBank Consent Letter from the mortgagor is necessary before finalizing the lease. This will protect the tenant from the risk of re-possession by themortgagor if the landlord fails to fulfill the terms and obligations under the mortgage agreement.

Legal Fees

In most cases, the cost of preparation of the tenancy agreement by the landlord’s solicitor is paid by the landlord.When separate solicitors are used, it is standard practice for each party to bear their owncosts.Thegovernment regulates solicitors’feesforthepreparationoftenancyagreements. In fact, there is no requirement that tenancy agreements be prepared by solicitors. The agreement itselfisquitestandard.With theconsentofbothparties,andatnocosttoeither,Dwellworkswill preparethetenancyagreementandhavethedocumentssignedbythe tenant and the landlord. InkeepingwithHongKong law,thedocument mustbe“stamped”bythe government. A copy of these legally binding lease agreements will then be given to each party.

Legal Assistance

Tel: 2522 8018 Provides useful taped legal information in English and Cantonese on over 65 topics, such as, divorce, tenancy, employment, the Small Claims Tribunal, etc.

Security Deposit

Asecuritydeposit isheld by the landlord for thedurationof the lease toensure thedue performanceofthetenant.Theamountisusuallyequivalenttotwomonths’rent,andispayable uponthesigningofthe formal tenancyagreement.Itisrefunded to thetenantusuallytwoweeks after the tenant has vacated the premises. In somecases,adepositequal to twomonths’ managementfees isalso required.In the caseofa personal lease, the landlord may request a security deposit equivalent to three months’ rent. None of these deposits accrues interest payable to the tenant.

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