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Landlord's POV - Tenancy Related Questions

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  1. #1

    Join Date
    May 2009
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    227

    Landlord's POV - Tenancy Related Questions

    Hi guys,
    I did a search and as this is an expat forum, I guess I wasn't surprised at the majority of threads being from the tenants POV but I am in a position of potentially taking a job offer and wanted to have the flexibility of renting out my flat and being free to move. I have spoken to a couple of agencies, the 2nd of which did tell me their contract which would need signing is just in Chinese, which I do not read at all, although the agent speaks English.



    So just a few questions as well:

    1. Generally I guess it would be better to find an agent with English terms, any recommendations?

    2. Would it be better to go with a local or with a chain (ie. Centaline or Q-home)?

    3. Is it better to give it to a few agents to market the property? Or would this discourage them from working hard to rent it out

    4. I figured that it is a no-lose situation, in the sense that if I am not in a hurry to move (ie. the job offer turns out lower than expected or if I change my mind), it is worth having the property on the rental mkt, I can always wait until someone meets my rental expectation

    5. I was told that accepting pets would be easier to rent it out, I don't personallity like pets myself. I'm just conscious of the permanent mess or dirt it can cause, any thoughts?


    Thanks again all


  2. #2

    Join Date
    Feb 2015
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    Quote Originally Posted by SonicYouth1
    1. Generally I guess it would be better to find an agent with English terms, any recommendations?
    Any property agency worth its salt should have both Chinese and English.
    I put up my unit for rent only once through a property agency, so limited experience, used Centaline. I'm looking at the Estate Agency Agreement I signed: it is first in English, each line translated in Chinese. If you have to sign such agreement in Chinese, which of course you should not do, you'll have to wonder if the Tenancy Agreement they will have you sign will only be in Chinese only as well.
    So... go find a property agent that does everything in English. Most will.

    Quote Originally Posted by SonicYouth1
    3. Is it better to give it to a few agents to market the property? Or would this discourage them from working hard to rent it out
    Of course it's better to speak to several property agents. In my Estate Agency Agreement, we had to cross whether the agreement was exclusive or non-exclusive. We had it, of course, non-exclusive.

    Quote Originally Posted by SonicYouth1
    5. I was told that accepting pets would be easier to rent it out, I don't personallity like pets myself. I'm just conscious of the permanent mess or dirt it can cause, any thoughts?
    My take on this is that the rental market in HK, if what you have is a "normal" unit offered at a "normal" price, is liquid enough that you should be able to find a tenant, as per what your pet position is. Personally I have accepted cats, but not dogs. Of course... if the tenant moves in with a dog, you may not be able to find out... but anyway... that's what I have in my tenancy agreements myself.
    traineeinvestor and shri like this.

  3. #3

    Join Date
    Dec 2018
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    1,091

    FWIW, we use one small agent for our rental units. He finds tenants (for which he gets the usual commission) and, once the tenant has moved in, deals with everything else like repairs for no extra charge. I'm sure I could shop around and use multiple agents to get slightly higher rents, but when I was working full time that just wasn't an option. Post-retirement I've kept the arrangement going rather than spend more time managing properties. YMMV.

    On pets, I use a standard "no pets" clause as they do damage floors, dogs especially. It's never been an issue for me.

    Also, check the body corporate rules - some buildings don't allow them at all.


  4. #4

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    4. I figured that it is a no-lose situation, in the sense that if I am not in a hurry to move (ie. the job offer turns out lower than expected or if I change my mind), it is worth having the property on the rental mkt, I can always wait until someone meets my rental expectation
    If agents bring you offers and you continue to turn them down, you'll find them cooling off. They want a landlord who is ready to pull the trigger.
    Skyhook likes this.

  5. #5

    Join Date
    May 2009
    Posts
    227
    Quote Originally Posted by jrkob
    Any property agency worth its salt should have both Chinese and English.
    I put up my unit for rent only once through a property agency, so limited experience, used Centaline. I'm looking at the Estate Agency Agreement I signed: it is first in English, each line translated in Chinese. If you have to sign such agreement in Chinese, which of course you should not do, you'll have to wonder if the Tenancy Agreement they will have you sign will only be in Chinese only as well.
    So... go find a property agent that does everything in English. Most will.



    Of course it's better to speak to several property agents. In my Estate Agency Agreement, we had to cross whether the agreement was exclusive or non-exclusive. We had it, of course, non-exclusive.



    My take on this is that the rental market in HK, if what you have is a "normal" unit offered at a "normal" price, is liquid enough that you should be able to find a tenant, as per what your pet position is. Personally I have accepted cats, but not dogs. Of course... if the tenant moves in with a dog, you may not be able to find out... but anyway... that's what I have in my tenancy agreements myself.
    Thanks for the info. So do the agents all charge 1 month or you can negotiate this easily to some extent? For their commission