getting out of a running apartment contract

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  1. #1

    Join Date
    Aug 2006
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    Hong Kong
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    Smile getting out of a running apartment contract

    hi there,

    i have a nice 900 sqf apartment at grand promenade (sai wan ho) with full seaview. I also have the old rental price for only 25k per month.

    now i have the chance to get a nice apartment of one of my friends in wan chai.

    do you think there is a chance to get out of my current contract? current contract goes until dec 08. but i would like to move out within the next 2 month.

    your help is always appreciated ;-)

    cheers, tom


  2. #2

    Join Date
    Apr 2004
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    1) you do not mention how long you have been living under the present contract. So how long have you been there ?

    2) you don't mention the terms of your contract. so what are they?

    By having information 1 and 2 - I would have thought the answer would have been easily found.


  3. #3

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    if you have past your 1st year already and on the 2nd year of your contract, you should be able to give your owner the 2 months notice and move out, unless you have some very strange contract. most contracts are 1 year fixed and 2nd year optional with sufficient notice (usually 2 months or more as agreed upon).


  4. #4

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    If you pay a rent that is much better than the marketprice, it is very likely that the landlord will let you go even if the contract runs longer. But of course he needs to agree.
    I had this case once and even got all my deposit back - both sides happy.


  5. #5

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    yes

    i just moved into this apt last december. that means i am living there now almost 6 month. first year is not yet over. but as I did not talk to the landlord yet, i think i should do that first... smile

    i hope that he sees that the apt has now a rental value of 30k at least and would let me go....

    i'll keep you posted about the result. i am sure many of you guys had or will have similar problem in future....

    thanks all!

    ;-)


  6. #6

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    Quote Originally Posted by wtbhotia:
    if you have past your 1st year already and on the 2nd year of your contract, you should be able to give your owner the 2 months notice and move out, unless you have some very strange contract. most contracts are 1 year fixed and 2nd year optional with sufficient notice (usually 2 months or more as agreed upon).
    is my understanding correct of "1 year fixed and 2nd year optional" mean optional for tenant to lease the property and at the same time optional for the owner to lease the property to the tenant after the first year plus notice have passed?

    so say rents have gone up, the owner can stop leasing at the current rent and demand a higher rent from the tenant? and if the tenant does not agree, the owner can stop leasing, is this correct?
    of course after the 12 months plus notice have passed.

  7. #7

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    Quote Originally Posted by blueagles:
    is my understanding correct of "1 year fixed and 2nd year optional" mean optional for tenant to lease the property and at the same time optional for the owner to lease the property to the tenant after the first year plus notice have passed?

    so say rents have gone up, the owner can stop leasing at the current rent and demand a higher rent from the tenant? and if the tenant does not agree, the owner can stop leasing, is this correct?
    of course after the 12 months plus notice have passed.
    No.

    It means the tenant can live in the property for 24 months at the stated amount in the contract, but can leave after 12 months (giving 1 or 2 months notice) if they want.

    After 24 months, the contract would come up for renegotiation and the rent might increase.

  8. #8

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    Quote Originally Posted by Hamton:
    No.

    It means the tenant can live in the property for 24 months at the stated amount in the contract, but can leave after 12 months (giving 1 or 2 months notice) if they want.

    After 24 months, the contract would come up for renegotiation and the rent might increase.
    i heard that the law has changed, 1st year is fixed rent, 2nd year the owner can increase. I am not sure if this is correct but my neighbour just had her increased after the 1st year was up, luckily it was only $500 more.

  9. #9

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    Quote Originally Posted by Hamton:
    No.

    It means the tenant can live in the property for 24 months at the stated amount in the contract, but can leave after 12 months (giving 1 or 2 months notice) if they want.

    After 24 months, the contract would come up for renegotiation and the rent might increase.

    My understanding is either party can terminate the contract after 12 months, giving the required amount of notice. So if a landlord wants to sell house (happened to me in Jan) or thinks can get more rent he can get the tenant to leave or sign new contract for higher rent.

  10. #10

    Join Date
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    A landlord can always break a contract to sell or move back into their property.

    As far as I'm aware, a 24 month contract (with 12 months + another 12) means the tenant can rent the property for 2 years at the stated price. If the landlord tries to evict the tenant or increase the price before 24 months, they're breaking their contract.

    That said, I might be wrong. But I've never seen a landlord increase the rental after 12 months within a 24 month contract. I'm sure they know they'd get a lot of bad will that way and it's as good as evicting the tenants, which most sensible landlords wouldn't want.

    But, plenty of people break contracts, and there's very little penalty for a landlord to do so (they're the ones who get to hold on to the deposit). Frankly tenants have no real rights in HK, and whatever rights you have would cost too much to fight over. If you encounter an arsehole landlord, just move.