 Step 1¡GConsiderations before renting a flat
- Do I want to rent or to buy?
Will I stay temporarily? Do I plan to move frequently? Is my financial situation stable? For more details, please check out the Comparison between buying and renting
- Which type of unit do you want to rent?
- Units for rent leased by developers
The fittings and finishes are usually of good quality and equipped with furniture and electrical appliances. Luxurious units usually have clubhouse facilities, however the rent is typically higher.
- Serviced Apartments
There are many serviced apartments in Hong Kong South, Kowloon, Tsuen Wan and even Tin Shui Wai. Serviced apartments appeal to people because units are fully furnished and equipped with electrical appliances. Also, it is similar to living in a comfortable and clean hotel. There is greater flexibility since you can choose between a short-term or long-term lease.
- Owners' units for rent
There is generally a high supply of owners' units for rent. In addition, the rent is often negotiable and there are many types to choose from such as house, standard apartments and old buildings. Please click here to search for a unit to rent.
Note: Some units may have been rented out numerous times. As a result, the fittings and finishes will be older and in poorer condition. Lastly, you have to be careful of the tenancy agreement if you rent a unit directly and not through a real estate agent.
- Evaluate your financial condition
Prepare a budget proposal and find out what you can afford to rent.
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Step 2¡GSet criteria when searching for a unit to rent
- Which district or area is suitable for you?
The factors you should consider include the transportation, school network, public facilities, restaurants, shopping, environment, public security, etc.
- Which type of unit do I prefer?
Large estates are often self-sufficient with adequate recreational facilities, transportation and shopping centers. However, some estates prohibit residents to keep pets. For pet lovers, living in a house would be more suitable and desirable. Older buildings have higher efficiency rates and lower rents. Some standalone buildings are located in a convenient area but management fees are sometimes higher.
- Which estate is most suitable for me?
The factors you should consider include the location, quality of the property, facilities, car park spaces, availability of shuttle buses, transportation, management quality, fire system installation, escape route, etc.
- Which unit do I want to rent?It's important to think about the amount of rent you can afford. Other factors include size, efficiency rate, layout, direction and view, electrical appliances and furniture. It would be better to compare the market rent of similar flats. Potential renters can do research by gathering information and opinions from professionals.
You can find a unit for rent through an estate agent or by directly calling the owner. For more details, please refer to the Comparison between agent listings and owner listings.
For people who prefer agency listings, please take a look at the Guidelines to appoint an agent.
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Step 3¡GView the unit thoroughly
- Bring along a friend to view the unit
Your friend can provide you with a second opinion and useful suggestions. If you choose an agent, you should pay attention to the following points:
- Choose a reliable agent who is represented by a reputable real estate company and holds a valid license.
- Before viewing a specific unit, sign an ESTATE AGENCY AGREEMENT FOR LEASING OF RESIDENTIAL PROPERTIES IN HONG KONG which is applicable between an estate agent and a tenant. Details in the agreement include:
- Setting the commission which is usually equal to a half-month's rent.
- Agents should provide pertinent information about the unit such as exact area, subsisting encumbrances and user restriction, etc.
- Remember to write down the correct address of the unit Remember to write down the correct address of the unit you have viewed or planning to view. If you finally rent a unit, which you have seen from another agency, you may have to give commission to the agent.
- Check if the unit and the property is suitable for you
The features you should check for include the layout, view, fittings and materials, decoration, furniture, electrical appliances, public facilities, surroundings, fire system installation, fire escape route, feng shui, etc.
- View the unit again
On a sunny day you can check out the view from all angles, while on a rainy day you can check if there are any leakage problems. For more details, please refer to the Viewing Checklist.
- You should keep copies of all the documents and agreements.
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Step 4¡GNotification for transaction
- Negotiation
Negotiate with the owner or agent. Does the rent include management fee, electricity, water and gas? Is the unit equipped with furniture and electrical appliances? For more details, please refer to Bargaining Tips.
- Check the mortgage condition before signing a tenancy agreement
Renters can try their best to persuade the owners to show the mortgage relevant document as well as a certificate of permit by bank.
- Sign a preliminary tenancy agreement
The preliminary tenancy agreement should pinpoint whether the rent includes management fee, rates, land rent, other miscellaneous fees, furniture, electrical appliances, date of hand over, tenancy term and period exempting rent.
- Sign a formal tenancy agreement and pay the commission
Check if there are any additional items, such as a permit to keep pets and maintenance responsibility.
- Pay the stamp and register to The Land Registry
You are obliged to pay the stamp to the Inland Revenue Department within 30 days after signing the formal tenancy agreement. A fine will be imposed if you miss the deadline. The stamp is usually shared by the owner and tenant. It is recommended that you also register to The Land Registry for security purposes.
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Step 5¡GHand over the unit
- Checking
Check if there are enough furniture, electrical appliances, etc. provided according to the tenancy agreement.
- Mark the meters of the water, electricity, and gas supply.
- Take photos of the unit as evidence if any problems arise? Are there any damages?
- Do the chains, doorbell, door lock, viewer and doorstopper work effectively?
- Are there any cracks, leakage or defects on the wall and ceiling especially near the bay windows and balcony?
- Do the frame, hinge and window locks work properly?
- Is the curtain rod (if provided) in good condition?
- Are there any cracks or defects on the bay windows?
- Is the water tap, pipe, exhaust fan, gas water heater and water tank working properly?
- Is the drainage system for the washing basin, water closet and bathtub working properly?
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