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Need advice: fixed lease coming to an end

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  1. #1

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    May 2022
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    Need advice: fixed lease coming to an end

    Hi All, my 2 year fixed lease is coming to an end. How early on do I need to inform my landlord if I’m not planning to extend it? I know that unlike breaking a lease there is no notice period but wanted to know what the common practice is. I am undecided so far but also want to make sure the landlord is given sufficient time to find a new tenant. Thanks in advance for all your help!


  2. #2

    Join Date
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    Communication is key. Whether you want to extend or not, or even if you don't know what you want to do yet, send a message to your landlord today and just tell them you are reviewing your options for the future now and still undecided (ie tell them the truth and no reason to withhold this). They will probably tell you to make a decision soon since they will need to re-advertise, renovate, maybe want to sell, etc.

    Anyway maybe the rental price is part of your decision making so at least ask the landlord if they are willing to drop the rent if you extend? Doesnt this help in your decision making?

    I am LL and thinking to sell my property in next 6 months. My tenants fixed contract expired last month, I told them already a few months before it expired that I am probably going to sell this year and cannot extend the contract long term, if they want to keep staying for now on month to month basis is fine, if they want to leave at end of contract is fine too. They chose to stay on month to month basis for now and either party can terminate at any time, but I have given them my word that if I do sell will give them a few months notice.


  3. #3

    Join Date
    Dec 2019
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    2,119

    After the fixed period, standard contracts require a notice period before terminating the contract.

    You should also inform your landlord that you will not be paying the last two months' rent and he/she can deduct it from your deposit.

    95% of landlords are dishonest scum who will seize your deposit otherwise.

    Yes, yes, 95% of landlords on GeoExpat are angels, but not everyone is on GeoExpat


  4. #4

    Join Date
    May 2022
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    Thanks for your prompt reply. I’m thinking the same and will definitely start the communication process with the landlord. The worst thing to do would be to create any misunderstanding ☺️

    shri and Editor like this.

  5. #5

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    May 2022
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    My contract does not state a notice period is required, maybe because it’s a fixed lease ?


  6. #6

    Join Date
    Dec 2019
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    Quote Originally Posted by bdw:
    Communication is key. Whether you want to extend or not, or even if you don't know what you want to do yet, send a message to your landlord today and just tell them you are reviewing your options for the future now and still undecided (ie tell them the truth and no reason to withhold this). They will probably tell you to make a decision soon since they will need to re-advertise, renovate, maybe want to sell, etc.

    Anyway maybe the rental price is part of your decision making so at least ask the landlord if they are willing to drop the rent if you extend? Doesnt this help in your decision making?

    I am LL and thinking to sell my property in next 6 months. My tenants fixed contract expired last month, I told them already a few months before it expired that I am probably going to sell this year and cannot extend the contract long term, if they want to keep staying for now on month to month basis is fine, if they want to leave at end of contract is fine too. They chose to stay on month to month basis for now and either party can terminate at any time, but I have given them my word that if I do sell will give them a few months notice.
    How will you let possible buyers see the place? Will you pay your tenant a little something each time?

    If your property is under $12M a buyer can borrow 80%, but if there is a tenant they may only borrow 50%. The number of buyers is affected. I wonder if you know how the banks look at it if the lease is ongoing but not fixed (and could be terminated before the completion date)...

  7. #7

    Join Date
    Dec 2019
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    Quote Originally Posted by Makjh:
    My contract does not state a notice period is required, maybe because it’s a fixed lease ?
    Does your lease look something like this?

    http://www.noagent.hk/tenancy_agreement.pdf

    Look at paragraph 4 on page 4.

    noagent.hk/tenancy_agreement.pdf
    Last edited by hike; 11-05-2022 at 11:21 AM. Reason: http://www.noagent.hk/tenancy_agreement.pdf

  8. #8

    Join Date
    May 2022
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    Sorry I can’t see the document


  9. #9

    Join Date
    May 2022
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    No I don’t have a break clause in my contract as it was fixed lease for 2 years meaning that I could not terminate the lease any earlier than the 2 years


  10. #10

    Join Date
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    Quote Originally Posted by Makjh:
    Sorry I can’t see the document
    noagent.hk/tenancy_agreement.pdf

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