12 plus 2 break clause

[SpecialK]

Hi all, we will shortly be in our apartment for 12 months and would like clarification on the 12 plus 2 break clause. How does it work? We would like to move to take advantage of falling rental prices. I was under the impression that you can only take advantage of that particular clause if you are leaving HK. In other words, we would have to stay in our apartment the full 2 years as we are remaining in HK. Then a friend said this is not the case, we can leave simply because we want to. Anyone know which is the case? thanks.

[Claire ex-ax]

After 12 months you (or the landlord) give 2 months' notice to end the tenancy.

[beachball]

After 12 months you (or the landlord) give 2 months' notice to end the tenancy.

True - and (maybe) not.

It is correct that there is generally no requirement to have a special reason (like leaving the country), to be able to give notice (although such an arrangement, which is sometimes known as a 'diplomatic clause', is quite popular for expat tenancy agreements in Singapore).
However, it is not necessarily true that the landlord can give notice as well. Historically that has generally not been the cas, rather it is mostly a phenomenon of the of the recent RE bull market (i.e., the last 2-3 years) - and even then not standard/common.

[drumbrake]

Why not ask your landlord for a lower rent? Cheaper and easier than looking for a new place and moving out.