Points to Note When Renting Premises

Inspection of the Facilities provided

When inspecting or handing over a premises, the tenant must ensure the following facilities function properly: 

  • Iron gate/doors/windows is/are not damaged or broken
  • Leakage on wall, ceiling, window and balcony
  • Peeling, cracked or loose concrete inside the unit
  • Any alteration which requires Landlord's rectification
  • Water supply and drainage in kitchen, toilet and bathroom are in order
  • Electricity supply and facilities are in order
  • Gas supply and facilities are in order
  • Water heater, cooker, air-conditioner and exhaust fan (if provided) are in order or needs replacement
  • Other additional facilities provided by the landlord

​​If the Landlord is providing additional facilities, the Tenant should, according to the Tenancy Agreement, check or separately list out the additional items such as electrical appliances or furniture in the premises and ensure they are in proper working conditions. The Tenant should immediately make note if any of which are broken and request the landlord or it's agent to follow-up, repair or make replacement. Photos should be taken when necessary.

Expenses incurred for renting premises
  • Initial Deposit
    • Landlord usually requests initial deposit equivalent to one month's rent.
  • Rental Deposits
    • Upon signing Tenancy Agreement, Tenant should paid two to three months' rent as rental deposits. (Negotiable)
  • Other Deposits
    • Landlord usually request deposits against, water, gas, electricity or management fee from a few hundred to few thousand dollars. (Negotiable)
  • Stamp Duty Payable
    Calculate as follows:
    • Monthly to Less than one year 0.25% of the average yearly rent
    • One year to three years 0.5% of the average yearly rent
    • Over three years 1% of the average yearly rent
    Remarks:
    1. *The Landlord and the Tenant equally share Stamp Duty.
    2. *HK$5 will be charged for each additional copy of Tenancy Agreement.
  • Solicitor's Fee
    • If solicitors firm processes the Tenancy Agreement, the charge is as follows:
      (average yearly rent - HK$12,000) x 1% + HK$1,000
    Remarks:
    1. *The Landlord and the Tenant equally share the charge.
  • Agent's Commission
    • The Property Agent usually asks for the commission equivalent to 1/2 to one of the average monthly rent. (Negotiable)
  • Miscellaneous Expenses
    In additional to the above expenses, the Tenant should consider the followings:
    • Deposit and payment/installation charges of water supply, electricity supply, gas, telephone ...etc.
    • Payment for moving, renovation, and purchasing additional facilities such as furniture, electrical appliances ...etc.

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