chuckster, thanks for your reply.
"you cant do anything to them if they are leaving HK"
about this I wasn´t sure...
chuckster, thanks for your reply.
"you cant do anything to them if they are leaving HK"
about this I wasn´t sure...
Keep her deposit. But don't tell her cuz she won't pay. Find a new tenant to start the day she moves out.
I imagine you need her address to force a collection or to seize her assets. I don't think HK let's you take their bank account or garnish wages. In the states OP can probably get money from tax return, bank account or wages.Original Post Deleted
What's the big deal? She's told you in advance, which gives you plenty of time to find a replacement tenant, plus you get to keep 2 months rent from the deposit. Sure, it's a hassle, but that's the nature of being a landlord. If having a passive investment is a priority, choose another asset class.
Well big deal is she is leaving in November, not a good or ideal time of year to let the property out. Landlord now needs to go through the trouble again, pay the agency fee, and I'm not sure if having overlapping stamp duties causes issues with IRD or not.
It's trouble, it's the wrong way to do things, and the tenant just doesn't care.
There's nothing said to imply "the tenant doesn't care", it's a matter of a job and life. The landlord gets 2 months rent from the deposit, plus time until November to find a new tenant. The agency fee is only half a months rent. Sounds like the LL could profit from this situation.
What would be the "right" way for the tenant to handle it if they need to go back to their home country?
Irks me -- being "stuck" as a tenant -- a bit that someone with enough privilege to own a flat in HK can say something so irresponsible like "I don't know the laws" and expect someone to hand over 9 months of HK rent.
They only way the LL will lose money is if you can't rent out the property until January. That is quite sufficient time I would think. You actually will probably end up making money by the tenant leaving early and fore-fitting their deposit.
A contract only offers protection if you can afford to enforce it, otherwise just a piece of paper.
You wouldn't generally be entitled to 9 months rent as you have a duty to first mitigate your losses, which means finding a new tenant. Only if you couldn't find someone to rent the flat for the rest of the 9 months would you then be able to claim for the loss.
As others have said, keep the deposit, and ask for her to prepay up to the last day that she leaves, as I suspect she may not pay the last month of rent to offset the deposit, as many on here often advise. Also, best to record the early termination it in writing, so you can re-enter the flat.
As a fellow HK Landlord I can concur with the earlier respondent who said we are privaliged to be able to own a flat & we are! In general, over a 20 year period our tenants pay for our property assets. Occasionally this can be a hassle with tenants needing to go earlier than anticipated and we may have to pay another agent fee but u can deduct this few thousand dollars from the rental income over 20 years & its quite literally peanuts. There is huge demand from rental property here so I doubt that finding a new tenant would be problematic or take a long time & as others have said simply advertise the property on sites like this or with estate agents if you prefer. Depending upon the precise wording of your lease agreement you may or may not be legally entitled to keep the deposit BUT for your tenant to get it back would require her to pursue this through the courts which is very unlikely to happen. Just move on or instruct your legal counsel to commence proceedings now.