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Rental information

Leasing property in Hong Kong is a fairly simple and often fast process.

The step-by-step process

Estate Agents typically act as dual agents, representing both the tenant and the landlord (both parties pay a share of the agent commission). Typically, you will be expected to pay two month’s rent as deposit (this is held by the landlord) and one month rent in advance. Government stamp duty is due before the start of tenancy; the cost is shared between tenant and the landlord.  HomeSolutions will pay this on your behalf and add it to your invoice.  We will also e-file the lease registration where applicable.

If you need to travel overseas during the agreement process, we can oversee the transaction on your behalf.

Typically, purchasing follows this order:

  1. View the property.
  2. Make an offer.
  3. Tenancy Agreement drafted by agent and signed by both parties.
  4. Two-month Security deposit and First month’s rent due.
  5. Stamp Duty and agent commission paid.
  6. Keys are exchanged and Tenancy begins.
  7. Lease registered by agent and E-stamp certificate received from Inland Revenue.

Stamp Duty varies depending on the length of the lease and some other factors.  Approximate stamp duty due on a $30,000 per month lease will be about $1,000 HKD from each party.

For more information on Leasing, visit the Estate Agents Authority website.

To use the Inland Revenue Stamp Duty calculator visit:

 

http://www.ird.gov.hk/eng/ese/sd_comp/sdta.htm