Leasing Expenses
Advance Rental
Usually equivalent to one month's rent.
Deposit
Usually equivalent to two to three months' rent.
Stamp Duty
Calculate as follows:
| 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: HKD5 will be charged for each copy of tenancy agreement. In general, the stamp duty is equally shared by the landlord and the tenant.
Agent's Commission
Usually equivalent to 50%-100% of the average monthly rent.
Solicitor's Fee
The charge for appointing solicitors to deal with the tenancy agreement is as follows :
( average yearly rent - HKD12,000 ) x 1% + HKD1,000
Remark : In general, the above charge is equally shared by the landlord and the tenant.
Miscellaneous
Deposit and payment of water supply, electricity supply, gas and telephone installation.
Important Notes to Tenants
Landlord's Provision
A tenant is advised to check and take photos of the electrical appliances or furniture in the new premises if they are provided by the landlord. He / she should immediately ask the landlord to follow-up if any problems are found.
Inspection of the Facilities on the Premises
A tenant is advised to inspect the following facilities to ensure that they function properly:
- Electricity supply and facilities
- Water supply and drainage in kitchen, toilet and bathroom, as well as gas supply etc
- Windows
- Water heater, oven, air-conditioner and exhaust fan (if provided)
- Leakage on wall, ceiling and apron
- Peeling, cracked or loose concrete
- Other facilities provided by the landlord
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