Finding Properties and Suitable Locations for Rent

When searching for rental properties in Hong Kong, consider exploring areas such as the New Territories, Hong Kong Island, and Kowloon.

• New Territories: Ideal for those seeking a serene and green environment. Areas like Discovery Bay are family-friendly, offering proximity to beaches and various amenities.
• Kowloon: Perfect for experiencing local culture, particularly in South Kowloon, which features a vibrant mix of street food and community life. This area is accessible from Tsim Sha Tsui and Central.
• Hong Kong Island: If budget permits, focus on this area for high-end accommodations in prime locations like Mid-Levels or The Peak, offering stunning views of Victoria Harbour.
  
  Sai Ying Pun and Kennedy Town:Popular among young professionals, these trendy neighborhoods feature older buildings with smaller flats, often at a premium price due to their proximity to Central.
  
  Eastern Hong Kong Island: For budget-conscious renters fluent in Cantonese, neighborhoods such as Fortress Hill and North Point provide a more authentic local experience without the expat concentration.

When searching for a property, consider factors such as price, district, transportation access, and available amenities. Parents should also evaluate school networks, while pet owners should check the property’s pet policies. Remember, higher quality often correlates with higher rental prices.

Engaging a Property Agent

A knowledgeable property agent is essential for navigating Hong Kong's dynamic rental market. Licensed by the Estate Agents Authority (EAA), our agents possess extensive local expertise, enabling them to assist with:

• Access to a wide range of property listings
• Negotiating rental terms and conditions
• Cultural nuances and language barriers
• Pre-occupancy and post-occupancy support

Agents will guide you through various neighborhoods, helping you understand the diversity of property types, from high-rise buildings in Mid-Levels to townhouses on The Peak. This exploration will assist in narrowing down your ideal living location based on budget and lifestyle needs.

Inspecting a Rental Apartment

Our agents will schedule property viewings tailored to your preferences. During these visits, consider the following:

• Inspect for damages or maintenance issues
• Evaluate amenities and facilities
• Communicate your feedback to your agent to refine your search

Pay attention to the property’s orientation, humidity, and overall hygiene. If the unit is a bare shell, inquire about possible renovations. While researching, also check online databases for any historical issues related to the property. However, such databases may not always provide complete information.

Once you select a property, your agent will assist in submitting an offer.

Submitting an Offer

If you find a suitable property, your agent will negotiate on your behalf regarding:

• Rental price
• Lease duration
• Any special conditions, such as rent-free periods

Be prepared for counteroffers, and trust your agent's expertise to secure favorable terms. The Hong Kong rental market is fast-paced, so prompt action is crucial.

Standard tenancy agreements typically last two years, with options to break the lease after 12 months, given appropriate notice. Some landlords may impose stricter break clauses. Your agent will clarify these details.

Paying the Deposit

In Hong Kong, it is customary to pay the first month's rent and a security deposit upon agreement. The holding deposit, equivalent to one month's rent, secures your tenancy.

The security deposit generally ranges from one to three months' rent and is refundable at the lease's end, contingent on the property's condition. Your agent will guide you through this process.

Rent-free Period

Landlords may offer a rent-free period of 3 to 7 days for fit-out works at the lease's start. You can negotiate this through your agent. If you can pay multiple months' rent upfront, leverage this in negotiations for additional incentives.

Pet Policy

Pet policies can vary significantly between landlords and buildings. Always confirm whether pets are permitted before signing a lease.

Government Fees, Management Fees and Additional Costs

Typically, rent includes management fees and government rates. Tenants are usually responsible for utilities, which can be negotiated. It's essential to clarify responsibilities regarding repair costs in your rental agreement.

Stamp duty on lease agreements is generally shared equally between tenant and landlord, calculated at 0.5% of the average yearly rent for leases exceeding one year.

Before Signing a Tenancy Agreement

Ensure you bring your Hong Kong ID/Passport, sufficient deposit, and copies of income verification documents, such as pay stubs or tax returns. Both parties should sign and retain copies of the lease.

Agent’s Fee

Agency fees are standard and typically amount to half of one month's rent, payable upon signing the tenancy agreement.

Before Moving In

Conduct a thorough inspection of the apartment with your agent. Document the condition of the property through photos and videos to safeguard your security deposit. Avoid making alterations without the landlord's written consent, and ensure any pre-existing issues are noted.

Congratulations! Time to explore your neighourhood.


Optional: Home Insurance

Consider purchasing home insurance to protect your personal belongings, as the landlord’s policy usually covers only their assets.

For Reference:

Stamp duty is calculated at rates which vary with the term of the lease as follows:

(Where the stamp duty calculated includes a fraction of $1, round-up the duty to the nearest $1.)

Note 1: The yearly rent/average yearly rent/total rent has to be rounded-up to the nearest $100.

Please note that any deposit which may be mentioned in the lease will not be taken into account in assessing the stamp duty.