A Guide To
Renting Without Agents
You can save at least 1 month's rent in Agency Fees!
In Hong Kong, most landlords and
tenants sign a standard Tenancy Agreement. This can be downloaded from the link
above or alternatively, you can purchase one at your local stationary shop.
Once signed by both parties, the Tenancy Agreement must be stamped by the Inland
Revenue Department (IRD) within 30 days. The stamping process has been made
easy through the e-stamping service
that is available on the IRD's website.
The link above should take you directly there.
methods of stamping are also detailed on their website.
You should be familiar with the Landlord and Tenant Consolidation ordinance
which outlines the rights and responsibilities of tenants and landlords. A summarised version is available for
download here: Chinese (Traditional / Simplified) / English)
A Guide To
Selling / Purchasing Property Without Agents
You've just saved at least 1% of the property sale
price in Agency Fees!
Once have done
your research on how much you can afford and you are sure about the property
you want to buy and have agreed on the price and all of the terms and
conditions, a Provisional Sale and Purchase agreement must be signed. It is
advisable to appoint a Solicitor to handle the documentation, carry out the land
search (for the buyer) and be the intermediary between the buyer and the
seller. There is no standard fee
for a Solicitor so shop around.
A deposit (5% of the sale price) is paid
to the owner or owner's Solicitor.
If you change your mind, you lose the deposit. (If you were to go through an Agent, you
would still have to pay the agent's fee of 1% of the price!)
Within 14 days, the final Sales and Purchase Agreement should be drawn up
between the solicitors on both sides, then signed. A further deposit of 5-10%
makes the agreement legally binding. By this time, any mortgage should be
confirmed and a mortgage deed signed as well.
The balance on the purchase must be paid to the seller's solicitor within two
to three months. The seller's solicitor will inform you about the payment of
government rates and management fees. In addition stamp duty is calculated on
the value of the property (usually between 0.75 and 3.75%) and becomes payable
to the Inland Revenue Department.
Information For Buyers
If your Solicitor does not carry out a land search for you, you may do
Counter Search and Self-service Search
At the Land
Registry's Customer Centre at Queensway and the Search Offices in the New
Territories (NTSOs), customers can conduct search of land registers and place
orders for imaged land documents for properties anywhere in the territory
through our Counter Search and Self-service Search services.
IRIS Online Services
The IRIS Online
Services provides users with a full range of search services through the
The IRIS Online
Services will be available in two forms: on Ad Hoc Basis and Subscription Basis.
make use of the IRIS Online Services to place orders on-line for copies of land
records. The delivery methods to receive copies of land records are view by
browser, by download, by email, by fax, by mail and by collection over
counters. Delivery methods may differ depending on the Order Type, Nature,
Colouring, File Size or No. of Pages, etc.
IRIS Website: Click here
Property Search (HKPS) has provided the above guidance notes for information
Kong legislation may change from time to time. It is the landlord's/tenant's
responsibility to carry out their own due diligence and HKPS accepts no
liability for the accuracy of the information provided above.