The Rent Release Form is a crucial document used in Hong Kong's property rental market to formally conclude a tenancy relationship. It is typically executed when a lease is being terminated, whether at the natural end of the term or through mutual agreement for early termination. The document ensures compliance with Hong Kong's property laws, particularly the Landlord and Tenant (Consolidation) Ordinance, and provides legal certainty for all parties involved. The form includes essential details such as property identification, confirmation of vacant possession, settlement of financial matters, and mutual releases from future claims. It's particularly important in Hong Kong's dynamic property market where both residential and commercial tenancies require clear documentation of termination to prevent future disputes.
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1. Date and Parties: Identification of all parties involved, including full legal names and addresses of landlord and tenant
2. Recitals: Reference to the original tenancy agreement, including its date and essential terms
3. Confirmation of Vacant Possession: Statement confirming the tenant has vacated the premises and returned all keys
4. Release Terms: Clear statement of the mutual release of obligations and claims between parties
5. Property Condition: Confirmation of the condition of the property upon surrender
6. Governing Law: Specification that Hong Kong law governs the release
7. Execution: Signature blocks for all parties and witnesses
1. Security Deposit Settlement: Details of security deposit return or deductions, used when there is a security deposit to be addressed
2. Outstanding Payments: Settlement of any remaining rent, utilities, or other charges, included when there are pending financial matters
3. Surviving Obligations: List of any obligations that survive the release, used when certain terms need to continue
4. Keys and Access Devices: Detailed list of returned items, used when multiple access devices are involved
5. Third Party Rights: Exclusion of third party rights under the Contracts (Rights of Third Parties) Ordinance, used when third party rights need to be explicitly addressed
1. Schedule 1 - Property Inspection Report: Detailed report of the property's condition at surrender, including photographs if applicable
2. Schedule 2 - Settlement Statement: Breakdown of any financial settlements, including security deposit calculations and deductions
3. Schedule 3 - Original Tenancy Agreement: Copy or key details of the original tenancy agreement being released
4. Schedule 4 - Handover Items: List of all items returned, including keys, access cards, and other property-related items
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Residential Property
Commercial Property
Retail
Hospitality
Office Space
Industrial
Warehousing
Mixed-Use Development
Student Housing
Relevant Teams
Legal
Property Management
Real Estate Operations
Facilities
Administration
Asset Management
Leasing
Contract Administration
Corporate Services
Property Services
Relevant Roles
Property Manager
Legal Counsel
Real Estate Agent
Facility Manager
Property Administrator
Leasing Manager
Asset Manager
Property Officer
Tenancy Administrator
Contract Manager
Real Estate Operations Manager
Corporate Real Estate Manager
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