Posted by
onzki
6 yrs ago
[This is about Domestic/ residential tenancy]
Dear all:
Just want to have a quick check if this is normal in HK- I understand the clause 1 yr. fixed/ 1 yr. flexible in tenancy contract is the default. But how many of you experienced a landlord who is so watchful of market and keeps jacking up rent annually? Thanks!
Please support our advertisers:
The standard lease in HK is two years with a break clause after 12 months. Some break clauses are only execrable by the tenant and some by either the tenant or the landlord. There is usually no right for a rent review prior to the expiry of the two year term.
That said, the lease is a contract and it is up to the parties to negotiate whatever they can agree into it – if the lease says that the rent can be adjusted after 12 months, then the landlord is within his/her rights to adjust the rent to match the market.
Have you checked your lease?
Please support our advertisers:
If the RENT IS TOO HIGH... Move!
It is not like you are a prisoner... or have no options
Please support our advertisers:
As a (very small) landlord myself, I do not understand the mentality of of jacking up the rents to the point where a tenant would leave. Once a tenant is in place, I am much better off accepting slightly below market rent than dealing with the cost of a vacancy (lost rent, agency, cleaning the air-con units etc).
As OffThePeak said, there is no shortage of places for rent in Hong Kong (especially if you can be flexible in terms of location).
Please support our advertisers:
You must be logged in to be able to reply.
Login now
Copy Link
Facebook
Gmail
Mail