Renting Hong Kong
Do not be surprised by the rental rates in Hong Kong as this is one of the most expensive cities in the world for residential living. Prices are normally quoted on a monthly basis (e.g. $ per square foot per month), and may or may not include management fees and property tax (rates).

Floor areas are quoted on a "gross" basis. In other words, do not expect to get 1,000 square foot of usable or net area when you rent an apartment of the same size. In the newer buildings, the net area is about 70% to 80% of the gross area. In some of the older buildings, this“efficiency ratio”, as it is often called, can be as high as 90%.

Listings, Agents & Commissions
Property listings in Hong Kong are seldom exclusive and not often shared amongst property agents. In most cases, you will only be dealing with one agent who will represent both you and the landlord. The "standard" rate of commission for renting a property is an amount equal to one month's rent, half payable by the landlord and the other half by the tenant.

Types of Accommodation
Hotels & Serviced Apartments - These are usually quite small and completely furnished. Some hotels have rooms that are available to be let on a monthly or even quarterly basis. Most of these will have clothes washing and maid service; but may not have cooking facilities.

Flats (High-rises) - These are by far the most common types of rental accommodation in Hong Kong. Flats come in all sizes and variety, from the very small and basic to the large and luxurious with fantastic harbour views. There are older 6 storey walk-up buildings to modern 45 storey high-rises located throughout Hong Kong. The price range can be between $10 to $50 /s.f., depending on the location and class of flat.

Town Houses & Houses - These are considered luxury accommodations and are more commonly found in The Peak, Repulse Bay and southern part of Hong Kong Island, and Sai Kung and Tai Po of the New Territories. The sizes are generally larger and the rental rates higher than high-rise flats.

Because of the warm and humid weather, most homes and commercial establishments are equipped with air conditioners. So bring a light sweater when you go out - the temperature outside and inside may vary considerably. And do not be fooled by the temperature readings in winter. 10°C may not be cold in some countries; but in Hong Kong, it's very cold because of the humidity.

Flats by Individual Owners or Developers
Flats may be owned individually (strata title units as it is known in America), by holding companies and/or developers. Those being let by developers may have more restrictions and leases that are more favourable to the landlord. On the other hand, the management of the property may be better in a building with one single owner. Do check into the background of the property manager and the reputation of the landlord. Your property agent may be able to help you in this area.

Furnished or Unfurnished
Some flats are being rented furnished, others are vacant. Do expect to pay a bit more for those with furniture and complete set of appliances. Ovens are very uncommon in Hong Kong, but air conditioners are almost standard equipment.

Agreements
In most instances, you will be required to sign a preliminary agreement or offer to lease, then execute the tenancy agreement later before the lease term commences. The preliminary agreement may or may not be subject to contract. If it is not, then you are obligated to rent the property once the landlord accepts your offer to lease.

Lease Term & Damage Deposit
The "standard term" for a tenancy agreement is two years with an option by the tenant to move out after the first year. The refundable damage deposit is usually an amount equal to two month's rental rate. In many cases, the landlord will require the tenant to reinstate the property back to its original condition. So it may not be advisable for the tenant to install a lot of fixtures and do much renovation in a flat for shorter-term leases.

Where Do You Want to Live? (Things to Consider When Choosing a Home)
Transportation - Since most people do not own a car (a rather expensive item in Hong Kong), public transportation is readily available in most areas. The most reliable and often used is the MTR (subway). The KCR rail system links Kowloon and the west side of the New Territories. Taxis, buses and mini buses are also readily available in most areas. Like most major cities, though, rush hours can be very congested, particularly near the tunnels and on rainy days. Ferry services connect Hong Kong to Kowloon as well as the outlying Islands such as Discovery Bay. However, these services may be interrupted by typhoons that will hit once or twice a year, usually around July and August.

Space, Budget, Travel Time, Neighbourhood -These are all factors that one must consider when choosing the right place and type of accommodation. Let us know what your priorities are and we will find the proper listings for you to look at.