Register Tenancy Agreement Hong Kong

In addition, where a rental agreement provides that a tenant is entitled to a rent-free period (usually given to the tenant to decorate the property), the average annual rent is reduced according to the rent not repaid for the rent-free period and the amount of stamp duty payable is reduced accordingly. If your property is still under mortgage, you must remediat the borrower`s prior consent. Otherwise, you may violate your mortgage agreement and your mortgage could recover the property. On the other hand, a document creating a lease contract of less than 3 years or less (i.e. a lease agreement) does not earn anything by registration. A more important consequence is that the Court of Justice cannot accept an unstamped rental document as evidence in civil proceedings. In other words, one party will have difficulty enforcing the lease document against the other party (who violated the lease or lease) in court. For the stamp of each piece of the rental document, you have to pay 5 USD. The laws governing the registration of documents in the land registry are mainly contained in the land regulations (Hong Kong laws). Strictly speaking, there is no provision in the Cadastre regulation requiring the registration of documents. Only the consequences of non-registration are exposed. The question should therefore be: why should certain rental documents be registered in the land registry? Although a rent certificate may be registered in the land registry, Article 3, paragraph 2 of the Land Registry Regulation provides that the principles of termination and priority do not apply to « bona fide-leasing ratios for a maximum tenancy period of 3 years. » You should submit a notice of a new lease or renewal agreement to the rating and valuation department for approval within one month of the execution of a lease agreement.

In case of late filing, a fee of 310 HK is charged. If a copy of the notification is returned after approval, you have the right to take legal action to claim rent if necessary. If it is a lease, it should be registered with the land registry within 30 days of the date of execution, otherwise it will lose its importance under the Land Registry Regulation (Cap.128 of Hong Kong Laws). You should inform your tenant if you decide to sell your rented property. If no new agreement is reached between your tenant and the new owner of the property, the terms of the existing lease will continue to apply. Don`t forget to clarify with the tenant and the new landlord the responsibility for the repayment of the deposit to the tenant.