Hi all,
I am relatively new to the Hk renting scene. 5 days before the first year of my two year Temancy Agreement The landlord advises me of a substantial rent increase. Reviewing my agreement it appears he has no ability to increase the rent. Any advise would be appreciated
Regards,
John
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most hk rentals are 1+1 whereas the landlord can increase the rent after one year (or you can get out). check what your agreement says in detail, especially also with regards to timing/notice. that should be your guidance.
if your agreement is watertight (and maybe check with your agent too), advise your landlord of the situation and - important - continue to pay the rent as before. eviction takes quite a while, except he somehow gets access to your flat, throws all your stuff out and changes the locks.
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Ken A
16 yrs ago
Yes as cookie said, although you may have a 2 year contract, it usually allows for a break of contract from either side with 1 months notice after the first year.
If your contract is similar, what is is saying is that he wants to break the original contract (and thus giving you 1 month notice) and then offer you a new one at the higher rent.
I would also recommend talking to your landlord... unless they're completely unreasonable, and as long as you have been a good tenant, they may be willing to reduce the amount they want, or maybe even let you stay an extra couple of months whilst you look for a new place.
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You are most likely out of luck my friend. One year ago property rentals were going down. Probably rented to you cheap because of the downturn. Now that it's backup I'm sure your landlord wants current market price.
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Rental has been increasing everywhere in HK... we signed our lease in May 2009, and we got a good deal. So we're also concerned as we approach our break-clause.
Our flat used to rent for $40k. We got it, including car park, for $31.5k. Now I think the landlord could probaby get close to $40K again...
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If you're signing a new contract then definitely you're going to pay current market prices. Unless of course you get a good deal somewhere.
On the 2nd year of 1+1 (year) contract however, both parties (landlord and tenant) can get out of the contract as has been mentioned. This is subject to a proper serving of notice, usually one month. So if the notice is made just 5 days before the anniversary, you can reject the landlord's notice and wait for his notice to terminate the lease agreement. You can then negotiate with him/her on the new rental amount. This negotiation can take some time, and eviction if it comes to that may take more time too.
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