[#新手教]Should I pay attention to the terms of signing a lease? | Hong Kong 香港



When many landlords or tenants rent out buildings, most of them only use simple model leases that have been circulated in the market, and some even have verbal agreements without signing or signing a lease with detailed terms. Since the two parties have not clearly defined their respective responsibilities and rights, once any party has objections to the content of the lease, there will be many problems to resolve the dispute. Immediately observe the 5 major terms to be aware of when signing the lease. lease? Rental agreement? Generally, lease documents will include common terms such as lease term, rent, payment date, deposit, use, etc. Generally speaking, they can be divided into two types: Lease and Tenancy Agreement. A lease usually refers to a lease document with a lease term of more than 3 years. It must be executed in the form of a contract and must be concluded in the form of the “Conveyance and Property Ordinance”. Sealing and mutual exchange, and all leases must also be registered in the Land Registry. A lease agreement refers to a lease document with a lease term of no more than 3 years. It is generally concluded in the form of a lease. It only needs to be concluded in writing and the signing procedure is relatively simple. Information of the parties to the contract The lease must list the correct personal information of the landlord and tenant to determine the identity of both parties. The required information includes both parties’ names or company names, ID number or business registration number, mailing address and contact telephone number, etc. In addition, in order to ensure that the tenant has the financial ability to fulfill the lease, the landlord can check with the tenant in advance about his occupation and require the tenant to provide proof of income. Similarly, tenants should check with the landlord whether the rental unit is a mortgaged property. If the landlord rents out the unit without the consent of the bank, once the landlord stops making contributions and the bank confiscates the rented unit in the future, the tenant will not have the right to continue renting the rented unit and may not be able to recover the deposit. The rental unit states that the owner is responsible for providing the detailed address of the rental unit and the documents and facilities it includes, such as whether the unit is rented out with a parking space, what furniture and appliances are attached to the unit, and the rental unit plan. And tenants should ask and understand which public equipment or club facilities they have the right to use. If the unit is rented out together with furniture and electrical appliances, the condition of those devices should be checked and the items should be checked item by item according to the list before they can be accepted. In addition to the lease start date and the expiry date of the lease, the lease should also clearly state whether the tenant has the priority to renew the lease, such as whether the rent of the current lease is adjusted at a certain rate, or through negotiation or arbitration. Decide how much to adjust. If the tenancy agreement is not clearly stated, the tenant also has the right to request the landlord to include a clause with priority to renew the tenancy agreement after negotiation. Rent and deposit. The landlord can freely negotiate the rent with the tenant. It is not restricted by law, but should specify the monthly rent amount and payment date, whether the rent includes rates, government rent or management fees, and what is paid during the rent-free period Who is responsible for the expenses, etc. In addition, after receiving the rent, the landlord must issue a rental note to the tenant, otherwise it is illegal. As for the amount of the deposit, the landlord will generally require the tenant to pay the equivalent of 1 to 3 months’ rent as a security deposit. After the end of the tenancy agreement, the landlord has the right to deduct the rent and expenses owed by the tenant from the deposit, and return the deposit to the tenant within a time limit agreed by both parties. Last but not least, before signing a tenancy agreement, tenants should carefully read the “Guidelines for Conclusion of Tenancy Agreements” compiled by the Estate Agents Authority and the Consumer Council. Note that the content of the “Notice for Signing a Tenancy Agreement” is for general reference only and has no legal effect. 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