The Condo Lease Agreement is a crucial legal document used in Hong Kong's residential real estate market for establishing a formal tenancy relationship between a landlord and tenant for condominium properties. This document is essential for protecting both parties' interests and ensuring compliance with Hong Kong's residential tenancy laws, particularly the Landlord and Tenant (Consolidation) Ordinance. It should be used whenever a residential condominium unit is being leased, whether furnished or unfurnished, and typically includes provisions for rent, security deposit, utilities, maintenance responsibilities, and building management regulations. The agreement must reflect specific Hong Kong requirements regarding stamp duty, government rent, rates, and management fees, which are unique aspects of Hong Kong property leases.
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1. Parties: Identifies and provides full details of the landlord and tenant, including Hong Kong ID numbers/passport numbers and correspondence addresses
2. Background: Brief context about the property and the parties' intention to enter into the lease agreement
3. Definitions: Defines key terms used throughout the agreement including Property, Term, Rent, Deposit, etc.
4. Demise: 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: Rental amount, payment schedule, payment method, and late payment consequences
7. Deposit: Security deposit amount, terms of holding and return conditions
8. Government Rent, Rates and Management Fees: Responsibility for payment of government charges and building management fees
9. Utilities and Services: Responsibility for utilities connection and payment
10. Tenant's Covenants: Tenant's obligations including maintenance, use restrictions, and compliance with regulations
11. Landlord's Covenants: Landlord's obligations including quiet enjoyment and maintenance responsibilities
12. Insurance: Requirements for insurance coverage by both parties
13. Termination: Circumstances and procedures for early termination and consequences
14. Notices: How formal notices should be given between parties
15. Governing Law: Confirmation of Hong Kong law as governing law
16. Execution: Signature blocks and execution formalities
1. Break Clause: Optional provision allowing either party to terminate the lease early under specified conditions
2. Renewal Option: Terms for extending the lease beyond the initial term
3. Stamp Duty: Specific arrangements for payment of stamp duty if shared between parties
4. Special Conditions: Any unique terms specific to this tenancy (e.g., permitted renovations, pet policies)
5. Agent Commission: Details of real estate agent commission if applicable
6. Furnished Condition: Special terms relating to furnished properties, if applicable
7. Car Parking Space: Terms relating to car parking if included in the lease
8. Building Rules: Reference to specific building rules if particularly relevant
1. Schedule 1 - Property Details: Detailed description of the property including address, floor area, and boundaries
2. Schedule 2 - Inventory List: List of furniture, appliances and fittings included in the lease (if furnished)
3. Schedule 3 - House Rules: Building management rules and regulations
4. Schedule 4 - Condition Report: Detailed report of property condition at commencement of lease
5. Schedule 5 - Maintenance Responsibilities: Detailed breakdown of maintenance and repair responsibilities
6. Appendix A - Floor Plan: Floor plan of the property
7. Appendix B - Photographs: Photographs documenting property condition at lease commencement
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