indemnity clause in contract??help!

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  1. #1

    Join Date
    Apr 2007
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    13

    indemnity clause in contract??help!

    Arrived in hk and had 1 day rest before starting work.Its been a week now and on and off of apartment viewing.I have found an apartment last night and this morning the agent called to say that the landlord agrees to the rental price BUT wants to include an indemnity clause in the contract.Apparently he owes the bank on a mortgage and would give me a few weeks of free rental SHOULD any problems arise in settling the loan during my tenancy there and the bank has to foreclose on the apartment.Is this the norm for the clause to be included in the contract? I'm just so tired to the bone and being a female alone here in HK just doesn't help.Any advice would be appreciated,PLEASE ANYONE??


  2. #2

    Join Date
    Jan 2006
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    Park Island
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    I've never had that before. Think you better look for another apartment. You don't want to come home one day to find your apartment sealed up by the bank.


  3. #3

    Join Date
    Jul 2006
    Location
    Causeway Bay
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    126

    well... if u want another apartment without this...

    Hi!!!

    I do not have this clause in my apartment... sounds kind of weird... and I am quite desperate to find somebody to take over my rental from July 1st. The apartment is great and the price too, so really I do not understand how come it is so difficult!

    Anyway, if you are interested, check my thread: looking for an apartment from July 1st? You will find pictures and more info

    See ya,

    Alexis


  4. #4

    Join Date
    Feb 2007
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    1,561

    I would be very skeptical of anything that got a HK landlord to offer up free rent for a bit.

    My lease doesn't have any similar provisions either. It sounds a little bit weird to me.


  5. #5

    Join Date
    Oct 2006
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    669
    Quote Originally Posted by hello_there:
    I would be very skeptical of anything that got a HK landlord to offer up free rent for a bit.

    My lease doesn't have any similar provisions either. It sounds a little bit weird to me.
    Agree with hello_there, this type of clause is not common in hk.

  6. #6

    Join Date
    Nov 2005
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    i think the landlord is being nice. if the bank foreclose the house he doesn't need to do anything and u can't really sue him as well (he is bankrupt, rem)...


  7. #7

    Join Date
    May 2005
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    Sham Tseng
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    Actually, i n my previous flat I had something similar as my old landlord sold the falt while I was living in it and the new landlord asked me to sign a piece paper recognizing that change in landlords and which also included an "Indemnity clause" of sorts. I didn't have any problems and didn't think of it as a big deal. I let my lease expire and shift apartments because of space issues.


  8. #8

    Join Date
    Apr 2007
    Posts
    13

    Thanks everyone for the prompt replies.Agent contacted me and it seems that the landlord and me decided to split the increase 50/50 and clause will NOT be included in the contract.Seems its different when a local buys an apartment to stay in than renting it out.The latter increases the mortgage due to the interest rate or something like that.Nevertheless,everything has ironed out.After saying that,until the lease is signed I'll not be able to heave that much deserved sigh of relief.Thanks you guys,appreciate it ALOT.To just have someone responding and not feeling so alone in this strange but wonderful city is very comforting indeed.