First time owning a property

I bought a property with tenant. I did not see the property as it is rented. The one year contract will finish this June end but we will complete payment this May end. The contract is with one year option to rent. Can we as owners not rent it out to the tenant after June end? If the tenant decide to continue to rent it can we at least take a look at the premises? thanks

FYI: http://hongkong.asiaxpat.com/property/default.asp?type=1

You have no right to look at the property unless the tenant agrees, so just ask. Saikunga seems to think you want the tenant to leave, but if I'm reading your question correctly you want to know if you can continue to rent to this tenant after the end of June. Which is correct? If it's a one-year lease, which ends at the end of June, then it's up to you to negotiate with the tenant for another lease.

Thanks. you asked a good question. Is it a two year contract or a one year contract. What I know is that "one year live and one year dead" contract so is that a one year or two year contract? what if we asked to see the flat and they did not agree to let us see? Also if they want to continue to rent the flat can we increase the rental? Thanks again.

Sorry, I have no idea what you mean by "one year live and one year dead". You need to see the tenancy agreement. If you are buying the flat and taking over the tenancy, you must be given a copy of this. Whether or not you can see the flat also depends on what's in the tenancy agreement. And no, you cannot increase the rental if the tenancy agreement has another year to go. I repeat, you must see the tenancy agreement. If this has not been given to you, talk to your solicitor.

Presumably you are using a lawyer to complete the deal, they should be able to give you clear answers based on the documentation they have in front on them, answers that you can rely on. They (and you) must review the tenancy agreenment otherwise what are you buying and what are your rights? It could be a ten year tenancy to the current owner's mother/mistress at HK$50 a year.


In any event, the tenancy agreement should give a right to view, make the sellers enforce that right prior to settlement (asap, maybe you need 24 hour notice - ask!). You'd be crazy to buy without seeing, though lots of people do it. How do you really know what you are getting? Water damage, rats, unauthorised structures, drug den, brothel .... I am surprised your lawyer hasn't persistently hassled you about all this and I certainly wouldn't be asking these fundamental legal questions in a forum like this when my lawyer is getting paid to help with these questions/issues and more importantly should have all the documentation on hand. Kindly suggest that you stop the hypotheticals and scoot over to the lawyers immediately to get real answers to the important questions you raised, because based on what you have said settlement is coming up real fast and it seems you don't know what you are buying ....