Rental contract renewal question

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  1. #1
    bbb
    bbb is offline

    Join Date
    Jan 2003
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    hong kong
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    40

    Rental contract renewal question

    I signed a usual 2 year (1 fixed + 1 floating) rental contract when I moved in to my apartment. That was in late January 2003. Since my fixed year (12 months + 2 months notice period) part is over at the end of march 2004 and I like my apartment and my landlord, I am wondering if it is possible to sign a new contract within the flexible year period. I am worried that by the time my flexi period gets over, my landlord may not be ready to sign a new lease at the old rate. What say the experienced folks on this forum? Is it better (and at all possible?) to sign a new contract some time soon within the flexi year or should I wait out till the last two months of the flexi period and see what the landlord has to say about it? Any pointers will be highly appreciated.


  2. #2

    Join Date
    May 2003
    Posts
    22

    tell ur landlord immediately that u r moving out unless they negotiate and sign up a 30 day notice which wud suffice.


  3. #3

    Join Date
    Sep 2004
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    278

    Who initiates talks?

    Our rent contract is up in August (2 years up), and so far we like where we are and our landlord has been responsive to our requests, so my question is as follows:

    1. When do we start to talk about the contract renewal?

    2. do we essentially go to month-to month rental after expiration if there is no contract renewal?

    3.who initiates the talk for contract renewal, us or the landlord?

    4. is there a cap on how much landlord can raise the rent, as my contract did not have a cap stipulation on it, or is the sky the limit here?

    Any suggestions/pointers would be appreciated!


  4. #4

    Join Date
    Jun 2005
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    Hong Kong
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    23,217

    1. See 3.

    2. Yes (assuming you pay rent monthly).

    3. Depends who has most to gain/save.

    4. No limits now - tenancy protection was substantially reduced a couple of years ago (to what is now essentially a level playing field)


  5. #5

    Join Date
    May 2005
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    4,279

    You would be advised to get a contract rather than the idea of month to month which has no legal binding. Yes the landlord can raise the rent and most probably will do as rents have in general risen over the last two years. You could negotiate for a redecoration allowance or maybe get some furniture replaced/upgraded.