breaking a lease agreement

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  1. #1

    Join Date
    Aug 2007
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    504

    breaking a lease agreement

    Hi

    We are living in a rented apartment. Our lease is for 2 years expiring in September 2009 but we are planning to move out in April . What is the procedure and what is our liability? Just 1 month notice is enough? do we need to pay out the balance lease?

    Thanks for your help


    Neha


  2. #2

    Join Date
    Apr 2003
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    12,383

    neha - is you lease a 12+12? or a 24 month lease. From what I gather, most new leases are 12 months after which you can give a 1 month notice.


  3. #3

    Join Date
    Nov 2004
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    1,419

    just to add the KIA's post:

    ...without having to pay the balance, and with your deposit returned in full (minus any damage deductions)


  4. #4

    Join Date
    Jan 2003
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    Back in Toronto now - after 10 1/2 years in HK
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    945

    Yes, depends on the break lease clause in your lease agreement. Hopefully it's got a break lease option with notice after 12 months.


  5. #5

    Join Date
    Aug 2005
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    Clear Water Bay (In Da Jungle)
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    Most lease agreements in HK are 12 + 12 unless the landlord requests it to be revised. The first year is fixed and the second year is optional with advance warning.

    Best to have a look at your agreement and ask the agent as well. Seems like your case is that your in the second year already so 1-2 months notice should be fine (unless stated otherwise) without any penalty.


  6. #6

    Join Date
    Aug 2007
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    504

    thanks guys for your help. the contract is for 2 years and thereafter u have the clause of 1 month notice


  7. #7

    Join Date
    Jun 2005
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    Then clearly you need to pay until September 2009 (or October, depending on when the contract says you can give notice).


  8. #8

    Hello everyone,


    Due to some family reasons I need to leave HK with 5 months still remaining in the lease. I talked to the owner about it and he has offered me the following:


    1) if they are able to find the tenant right after i break the lease then 1 months rent+ agent fees+ administration expenses


    2) If they are not able to find the new tenant immediately I break my lease then 1.5 months rent + agent fees+ administration expenses


    Any suggestions ideas if you see any scope of further cutting down/ negotiate on the total penalty I pay to the owner? Do you think the options he has given me are reasonable?


    I know breaking the lease the owner has all the rights but I am doing this because of some big family requirement.