security deposits for HK flats?

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  1. #1

    Join Date
    Aug 2004
    Location
    Chicago
    Posts
    9

    Unhappy security deposits for HK flats?

    I was told that HK landlords request the equivalent of two months rent for the security deposit in addition to the first month's rent. Is this pretty standard? If so, I'm screwed. I just got a job offer (with no relocation allowance), and I barely have enough money to cover two months rent - definitely not three! Any advice?


  2. #2

    Join Date
    Apr 2003
    Posts
    12,383

    >> Is this pretty standard?

    Yes it is standard and the absolute minimum.

    In addition to that a real estate agent would want half a months commission.

    Serviced apartments don't need the two months deposit from what I know and might be a good option for you.. to find a serviced apartment so you're not financially weighed down by costs like utilities deposits etc.

    Our new serviced apartments site is almost ready, but feel free to ask questions here.

    http://www.serviced-apartments.hk


  3. #3

    Join Date
    Jul 2004
    Posts
    38

    Hi,

    The security deposit is the landlord want to make sure that you won't demage anything at their house. What I will say, you may let your landlord know your situation and hope they will let you to pay the deposit slightly later.

    If your landlord is Chinese, probably they want to have a good tenant and expat for them is a type of good one. Just try that first and see what will happen. If the landlord refuse to do that you might need to rent the service apartment. In Hong Kong there are few hotel have that kind of service. For example, Harbour Plaza, Horizon...etc.

    Or you can pm me which area you would like to live and let me try to help you.

    Hebe


  4. #4

    Join Date
    Aug 2003
    Location
    Kowloon-side, between work and pleasure
    Posts
    185

    While two months deposit is the norm (I paid it) I have also heard that one month has been accepted where the landlord wants a tenant. Negotiate everything. Good luck! BTW, serviced apartments I checked also wanted the two months - one wanted three! another had no deposit.