This Rental Lease agreement is designed for use in Hong Kong's property market, complying with local legislation including the Landlord and Tenant (Consolidation) Ordinance. It serves as the primary legal document establishing the landlord-tenant relationship for both residential and commercial properties. The document incorporates mandatory provisions required by Hong Kong law while allowing flexibility for customization based on specific property characteristics and party requirements. It addresses crucial aspects such as rent payment terms, security deposits, maintenance obligations, and termination conditions, while ensuring proper documentation for stamp duty purposes. This template is regularly used in Hong Kong's real estate transactions and provides a secure legal framework for both parties in rental arrangements.
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1. Parties: Identification of the landlord and tenant with their full legal names and addresses
2. Background: Brief context about the property and the intention to create a lease
3. Definitions: Key terms used throughout the agreement including 'Premises', 'Term', 'Rent', 'Deposit'
4. Demise: The formal grant of the lease and specification of the property being leased
5. Term: Duration of the lease, including start and end dates
6. Rent and Payment Terms: Rent amount, payment schedule, method of payment, and late payment consequences
7. Deposit: Security deposit amount, terms of holding and return conditions
8. Utility Charges: Responsibility for utilities, including electricity, water, gas, and management fees
9. Use of Premises: Permitted use of the property and any restrictions
10. Tenant's Obligations: Complete list of tenant responsibilities including maintenance, repairs, and conduct
11. Landlord's Obligations: Complete list of landlord responsibilities including structural repairs and insurance
12. Insurance: Required insurance coverage for both parties
13. Assignment and Subletting: Restrictions on transferring the lease or subletting the property
14. Termination: Conditions and process for early termination by either party
15. Default and Remedies: Consequences of breach and available remedies
16. Notices: How formal notices should be given between parties
17. Governing Law: Confirmation that Hong Kong law governs the agreement
1. Break Clause: Optional provision allowing early termination under specific conditions
2. Renewal Option: Terms for extending the lease beyond the initial term
3. Decoration Period: Allowance for rent-free period for tenant improvements
4. Car Parking: Terms for use of parking spaces if included
5. Pet Clause: Rules regarding keeping pets in the property
6. Stamp Duty Payment: Agreement on who bears the stamp duty cost
7. Agency Fees: Details of estate agency fees if applicable
8. Air-Conditioning Maintenance: Specific terms for maintaining air-conditioning systems
9. Government Rent and Rates: Agreement on payment responsibility for government charges
1. Schedule 1 - Property Inventory: Detailed list of furniture, fixtures, and fittings included in the lease
2. Schedule 2 - Condition Report: Detailed description of property condition at commencement of lease
3. Schedule 3 - House Rules: Building management rules and regulations if applicable
4. Schedule 4 - Special Conditions: Any additional terms specific to this lease
5. Appendix A - Floor Plan: Layout plan of the premises
6. Appendix B - Photographs: Documentary photographs of property condition
7. Appendix C - Utilities Reading: Initial meter readings for utilities
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