Property For Rent

The average rental agreement in Hong Kong is for a period of two years with a break-clause after one year, which can be exercised by giving two months’ notice. So in essence, the minimum lease duration is 14 months. However some smaller apartments or certain landlords will consider 12-month leases, with one month’s notice period. For shorter term leases you are better off considering a serviced apartment, which will come fully-furnished and be open to month-by-month rentals.

Please also note, larger apartments or houses or corporate landlords often will only consider two-year fixed leases or even three-year leases, with no break-clause before the 16-month period, or under any circumstances. A diplomatic clause in these sorts of agreements is wise.

A diplomatic clause is a clause that allows the tenant to terminate the lease before the lease term expires without having to suffer a penalty, in the unfortunate event that the tenant has lost his or her job and / or the tenant is being transferred out of Hong Kong by his or her company for not less than one year. Most often there will remain a minimum period during which this clause cannot be exercised.

Yes, it is an absolute pre-requisite for landlords in Hong Kong to request a security deposit. A security deposit for a rental property in Hong Kong is typically equivalent to two-months’ rent which is held by the landlords for the duration of the lease as a ‘bond’ or insurance. This deposit is refundable at the end of the lease, minus any deductions for damages, rental arrears or outstanding bills.

Absolutely! Negotiating the rental price is not uncommon in Hong Kong. However, it depends on the demand for the property and the landlord's willingness to negotiate. It's worth discussing this with your real estate agent.

In securing your new dream home, you will have to budget for one month’s rent upfront, your security deposit (which is usually two months’ rent), your 50% share of the stamp duty (the landlord pays the other half) and the real estate agency fee, which is equal to 50% of one month’s rent. The landlord pays the remaining 50% share. These costs are standard and nation-wide, no matter which agency you choose.

Once in your new home, the tenant is responsible for paying the rent, management fees (where applicable), government rates and utility bills each month. Some landlords incorporate the management fees and government rates into the monthly rent, however it’s advisable to clarify these details with your agent before signing the lease agreement.

Pet policies vary among landlords and buildings in Hong Kong. Some landlords may allow pets, while others may have restrictions or require additional pet deposits. It's important to enquire about the pet policy before finalising a rental agreement.