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First timer? Here’s some reminders for renting a flat in HK

First timer? Here’s some reminders for renting a flat in HK

The best rental homes can disappear in a flash in Hong Kong. Here’s how to get to the front of the tenant queue in the busy market. 

 

  1. Have the upfront cash you need
  • You will need up to 2 months’ rent to lay down as a security deposit and one month rent in advance to secure the flat. Another half month of the rent as the commission for the agency. 3 and a half month upfront to be prepared.

 

Money talks so, before you start, make sure you have this cash in the bank ready to go.

 

  1. Know your notice period on your current property
  • If you are renting your current home, dig out the contract and check what it says about ending the tenancy.
  • If you’ve been at the property for less than 12 months and there is no break clause, it may be too early to leave.
  • Even if you are out of contract, you’ll probably have to give a full month’s notice.

 

  1. Get the documents you need in your hand
  • As a prospective renter, you’re going to need some documentation that confirms you are who you say you are, For example, original photo ID such as a passport or HKID card.
  • And as well as a letter from your employer confirming your job role and salary.

 

Get this essential paperwork together now rather than waiting until you are asked for it.

 

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Agent

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