The License Agreement For Rental Property is a crucial document in Hong Kong's property market, used when parties wish to create a more flexible arrangement than a traditional lease. This agreement is particularly relevant when the property owner wants to maintain greater control over the property while still allowing another party to use it. It's commonly used for shorter-term arrangements, serviced offices, or situations where the owner wants to avoid creating a formal landlord-tenant relationship. The agreement must comply with Hong Kong property law and typically includes provisions for license fees, security deposits, maintenance obligations, and termination rights. It's essential for both residential and commercial properties, though the terms and protections may vary significantly between these uses.
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1. Parties: Identification and details of the licensor and licensee
2. Background: Context of the agreement and brief description of the property
3. Definitions: Definitions of key terms used throughout the agreement
4. Grant of License: Terms of the license grant, including duration and permitted use
5. License Fee: Amount, payment schedule, and method of payment
6. Security Deposit: Amount, terms of holding and return of security deposit
7. Utilities and Services: Responsibility for utilities, services, and associated costs
8. Maintenance and Repairs: Obligations regarding property maintenance and repairs
9. Licensee's Obligations: Key responsibilities and restrictions on the licensee
10. Licensor's Obligations: Key responsibilities and obligations of the licensor
11. Insurance: Insurance requirements for both parties
12. Default and Remedies: Consequences of breach and available remedies
13. Termination: Grounds and procedures for termination
14. Notices: Process for serving notices between parties
15. Governing Law: Specification of Hong Kong law as governing law
16. General Provisions: Standard boilerplate clauses including severability, entire agreement, etc.
1. Fit-out Works: Include when the licensee is permitted to make alterations or improvements
2. Common Areas: Include for properties in multi-unit buildings to specify rights and restrictions regarding common areas
3. Property Management: Include when there are specific building management rules to be followed
4. Sublicensing: Include if sublicensing is to be permitted (usually prohibited)
5. Special Conditions: Include for any property-specific requirements or restrictions
6. Option to Renew: Include if offering the licensee an option to extend the license period
7. Break Clause: Include if either party is given the right to terminate early under specific conditions
8. Force Majeure: Include if parties want specific provisions for unforeseen circumstances
1. Schedule 1 - Property Details: Detailed description of the licensed property including address, floor area, and included fixtures
2. Schedule 2 - Inventory List: Detailed list of furniture, appliances, and items included in the license
3. Schedule 3 - House Rules: Building or property-specific rules and regulations
4. Schedule 4 - Service Charges: Breakdown of any additional charges, management fees, or service fees
5. Schedule 5 - Condition Report: Detailed report of property condition at commencement of license
6. Appendix A - Floor Plan: Floor plan of the licensed property
7. Appendix B - Photographs: Photographs documenting property condition at commencement
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Management
Hospitality
Retail
Professional Services
Financial Services
Technology
Manufacturing
Education
Healthcare
Relevant Teams
Legal
Real Estate
Facilities Management
Operations
Finance
Procurement
Compliance
Risk Management
Corporate Services
Administration
Relevant Roles
Property Manager
Real Estate Manager
Facilities Manager
Legal Counsel
Contract Manager
Operations Director
Chief Financial Officer
Property Administrator
Compliance Officer
Real Estate Agent
Asset Manager
Office Manager
Corporate Services Manager
Procurement Manager
Risk Manager
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