renewing apt rental contract

[liveHK2007]

Hi,

My current apartment rent lease expires next month end and I am in the process of getting it extended by 1 yr. However, the landlord told me there is no need to go through the property agent to extend/renew the contract. He wants to do it all by himself, thereby avoiding the agent's commission.

Is this OK or should I insist on going through the agent? If its OK, what should I look out for in the renewed contract.

Quick advise greatly appreciated.

Thanks.

[shilo507]

I cannot see a problem. Absolutely no need for an Agent's inviolvement on a renewal. Standard pre-typed Lease Contract forms are available from any good stationer or bookshop.

Just make sure the renewal contract resembles the original contract as cloosely as possible (allowing for date changes etc).

You and the landlord are free to modify, change or add any clause as you like as long as you both agree to each point but probably no need. Remember to initial any amendements and take a copy.

I also prefer to bypass Agents. Their commission is too high in an already over-expensive property market. Take an hour or so with the landlord over a coffee to draw up a renewal you are both happy with and save that commission!!

[Oldtimer]

If the terms & conditions of the renewal are identical to the original contract, then all you need is sign a simple letter stating that contract is renewed on same terms and conditions as original contract and giving the the dates of new contract, and the new rent.
After it has been signed by both parties, have it stamped at the HK Government stamp office.