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Commercial building - ‘residential property’

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  1. #1

    Join Date
    Mar 2018
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    86

    Commercial building - ‘residential property’

    Hi all,

    Currently viewing apartments to rent as Im new to Hong Kong and weve found a great property in Sheung Wan, however its listed as a commercial building.

    The apartment has been converted in to a residential style, but I wondered what the considerations should be if we decided to rent it.

    I have read that contents insurance would be hard to come by, but wanted to know what else?

    I would be eligible for the refund of rent tax, but would this be affected?

    Any help would be greatly appreciated.

    Many thanks,
    Ali


  2. #2

    Join Date
    Feb 2005
    Location
    Island East
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    4,601

    I wouldnt rent it as technically its not legal I think but they dont clamp down on it just like subdivided apartments.
    things to consider.
    1. Not sure if you will get a stamped contract so that you can be eligible for rent tax refund
    2. All utilities fees are more expensive then residential ie internet / electricity


  3. #3

    Join Date
    Mar 2018
    Posts
    86

    Thanks for the quick response.

    When I spoke to the landlord, she mentioned that they would stamp the contract, but I would have to see this to be able to confirm.


    Appreciate the comments regarding utilities.


  4. #4

    Join Date
    Apr 2003
    Location
    Hong Kong
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    2,884
    Quote Originally Posted by AliT
    Thanks for the quick response.
    When I spoke to the landlord, she mentioned that they would stamp the contract, but I would have to see this to be able to confirm.
    Appreciate the comments regarding utilities.
    not just the fee, the deposit for electric and water services will be higher, but it's not really significant. phone/broadband could be significantly more expensive, both install and monthly costs, but the building should have a choice of fiber, with decent speed. Also, be aware that some installers like broadband companies, may ask for Business Registration (BR) to install in a commercial building.

    the unit may not be illegal, there are buildings in hong kong zoned for both residential and commercial use, but I am only aware of buildings located in Tsim Sha Tsui / Jordan.

  5. #5

    Join Date
    Dec 2002
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    ???
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    Also, you'll not be able to get a domestic helper's contract approved using that address.

    JAherbert likes this.

  6. #6

    Join Date
    Mar 2018
    Posts
    86

    Thanks all for the comments.

    I've just had confirmation that the flat is actually listed as residential by an external consultancy company as I had enquired about home insurance and the bank rang through.

    Will check upon the tenancy agreement though and confirm it can be stamped etc.


  7. #7

    Join Date
    May 2011
    Posts
    146

    Have you looked at it at different times of day? Depending on who the other tenants are, there may be noises or odor from commercial activities. If it's a commercial building, night time can be quite creepy as you'll be the only unit occupied.


  8. #8

    Join Date
    Mar 2018
    Posts
    86

    Hi madal1,

    Some great points.

    Wife went during the day yesterday and we went in the evening. All seemed ok, no smells and relatively quiet. It would appear that most of the building is residential, so slowly being converted.

    No smell in the building or on the floor level which was positive.

    Also entrance to the building is on the on the main road, so hopefully not too creepy at night, but again some good points to sign post.

    Hopefully ive thought of most, but wanted to check with everyone here to make sure I wasnt missing anything.


  9. #9

    Join Date
    May 2010
    Posts
    4,741

    i would avoid it at all cost. Imagine what your life would be like if a private kitchen, tutorial centre, or a music center moves in.


  10. #10

    Join Date
    Mar 2018
    Posts
    86

    Thanks dumbdonkey, a worthwhile note to consider.


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