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Typical rent rise in HK?

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  1. #11

    Join Date
    Apr 2003
    Location
    Hong Kong
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    3,988
    Quote Originally Posted by shri:
    Like I said .. the pro-grade landlords usually do not mess around with astronomical increases. Like to have steady returns.
    second that, pro-landlords don't run around every real estate agent seeking the highest figure they can charge.

    on the topic of agents, this business of charging a fee based on a percentage of the rent/purchase price is stupid. agents don't add that much value to justify the fee.

  2. #12

    Join Date
    Aug 2006
    Posts
    7,517

    A rubbish tenant - increase rent by 25% each year.
    A good tenant - zero % increase.

    Rubbish tenant - my light bulb in the bathroom is broken - can you replace it?
    Good tenants - pays rent by regular bank transfer; never hear from them throughout the tenancy.


  3. #13
    Quote Originally Posted by bargfeldstegen:
    Let me guess: Sea Ranch!
    We do know someone who has a second home there, but we live just off Kennedy Road in Wanchai/Midlevels.

  4. #14

    rent rise could be 15-25% rise

    usually rise much more in studio/ small unit. I am looking for small apartment lately, the rent rise quite obviously, like rise from 4-5K to 6-7K for a 140 sq. feet studio, pls the power/ water has surcharge, charged by the landlord.

    for the mid size unit, around 10-25% rise as well~
    Bigger the unit, less the rise % of rent
    so i think the better option would be find a flatmate to share a bigger apartment.


  5. #15

    Join Date
    Jan 2009
    Location
    hong kong island
    Posts
    106

    We are coming to the end of the 2nd year tenancy and the landlord is demanding a 20% increase. Is there a cap on % increase governed by the HK gov't or RVD? Any one knows about this pls?


  6. #16

    Join Date
    Jun 2007
    Location
    Ex Sai Kunger Sunny Qld for now
    Posts
    8,318
    Quote Originally Posted by helper:
    We are coming to the end of the 2nd year tenancy and the landlord is demanding a 20% increase. Is there a cap on % increase governed by the HK gov't or RVD? Any one knows about this pls?
    Nope, you are at the mercy of the landlord and what they 'think' they can get.

    You haven't been able to arbitrate rent rise disputes officially since the 1997 handover and Tung Chee hwah ( the then CE) dismantling that mechanism.
    Last edited by Skyhook; 14-09-2018 at 05:57 AM.
    shri likes this.

  7. #17

    Join Date
    Oct 2012
    Posts
    6,531
    Quote Originally Posted by helper:
    Is there a cap on % increase governed by the HK gov't or RVD?


    (What a lovely idea! Haha... lovely ideas are not suitable for Hong Kong's rich!)

  8. #18

    Join Date
    Sep 2018
    Location
    Kowloon
    Posts
    15

    any bargaining or negotiating techniques? kindly share

    curiouscorgi likes this.

  9. #19
    Quote Originally Posted by Scousebanana:
    Following on from my original post, I thought I would come back with an update. We just had confirmation that the Landlord is happy for us to renew our lease with no increase! Having had a look at the rents for other similar properties, our rent seemed pretty reasonable and I had anticipated a rise of up to 10%, so it's come as a pleasant surprise. There are currently a few empty units and we get on well with the management team, so I guess that helps.
    Can you please share how you did this? What was the process - did the landlord reach out to you? Did you reach out to LL? How fast was this? I am currently facing a similar issue, I've posted another thread about this... and would appreciate any advice/tips. Thank you !

  10. #20

    Join Date
    Jan 2018
    Posts
    831

    Be prepared to walk away.

    And by prepared:

    - Already have a short list of suitable properties that are priced where you want and ready to move in when you want
    - Let your current land lord know that you want to renew at a certain rate
    - If the current land lord doesn't agree, move on and profit
    - Of course, with falling prices, you want to jump in on the "trend"

    TaD_LaLa likes this.