Confused about serviced flats and deposits

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  1. #1

    Confused about serviced flats and deposits

    Okay, I know this might sound like a really stupid question, but there is something that confuse me a little bit. It might just be me who is bad at English.

    I have been looking for serviced flats in Tsuen Wan, Sha Tin and Tuen Mun areas, as my girlfriend (a local) is living in the area. So it is more convenient for me to stay there.
    Finding accommodation was not that hard.

    The cheapest ones that I could find where the Harbour Plaza Resort City and The Royal View Hotel.
    Hong Kong Serviced Apartments for Rent and Lease – Square Foot
    I was quite interested in both. Though I can see that the Harbour Plaza Resort City is in Tin Shui Wai, so I didn't expect it to be the safest place for a foreigner to stay (can anyone confirm this?)

    So I wrote a mail to the Royal View Hotel and they sent me their fact sheet. The prices for a monthly lease were cheap as expected, but then I noticed this line:
    "One month rental deposit is required"

    What exactly does this mean? I have tried to call and e-mail the hotel 3 times, and everytime both me and the staff end up being confused because we don't seem to understand each other.
    So... if I rent a studio flat for 10.500 HK dollars. Does that mean that I have to pay both that AND a deposit that equals the same price?
    I am only used to the service fees at the hotels, and while I know that these apply for flats as well, I find it quite surprising that I would have to pay 21.000 HK dollars for a very small studio flat.
    But maybe it is just me who is "new" to this market.

    It surprises me though, because everyone keep saying that I should go for a serviced flat instead of a hotel, as it is much cheaper, but I have stayed at both the Far East Hotel and the Panda Hotel in Tsuen Wan, and both only required you to pay around 14.000 for a monthly package.

    I hope you can help clear this up.
    Thank you for your time, guys =)


  2. #2

    Join Date
    Sep 2010
    Location
    Tung Chung, Kowloon, Hong Kong
    Posts
    744

    you get the deposit back.


  3. #3

    Join Date
    Sep 2010
    Location
    Tung Chung, Kowloon, Hong Kong
    Posts
    744

    unless you're a party animal.


  4. #4

    Join Date
    Apr 2005
    Location
    Sai Kung
    Posts
    8,561

    you pay the deposit BEFORE you move in and you will get it back or it will be used as your last month's rent.

    ie. it is a one-off payment that you will/should receive back at the end of the rental.


  5. #5

    Join Date
    Nov 2009
    Posts
    35

    That's the way those landlords become rich.

    They receive money in advance and keep the deposit in their pockets, and then to settle their bills with delay, maintaining a good cash flow and better interest rate.