FAQ - Frequently Asked Question

Q.

A.

Stamping is actually a civic responsibility, as according to the Stamp Duty Ordinance, all leases must be stamped within 30 days of the date of signing. If the tenancy agreement has expired and is not stamped, you will also need to pay a penalty for applying for a replacement.

Who is responsible for stamping the lease agreement?

Q.

A.

In usual circumstances, both the landlord and the tenant cannot terminate the tenancy before its expiration unless either of them has breached the vital terms of the agreement which entitles the other party to forfeit or terminate the tenancy.
Early termination may be possible with the existence of a valid break clause which may be exercisable by either party by giving prior notice at a certain time during the term of the tenancy.

Do I need to pay compensation if I leave the lease early during the Fix Term Tenancy period?

Q.

A.

It is more flexible. For example, when the property market changes and the rent rises and falls, if the owner or tenant is not satisfied, they can exercise the right to withdraw the lease and terminate the lease in advance. And it is not a unilateral protection for the landlord or tenant. For example, if a tenant or landlord is in trouble, one of them can ask for a withdrawal after the death contract period. Early termination of the tenancy only requires a notice period, and does not need to pay the entire death contract rent.

What are the benefits of tenancy for fixed term of one year with option to renew for another year?

Q.

A.

Where an instrument chargeable with stamp duty is not stamped before or within the time for stamping, such instrument may be stamped by the Collector, with a penalty, upon payment of the stamp duty. 

Any penalty for Late Stamping?

Q.

A.

Upon the expiry of a tenancy, the original Tenancy Agreement becomes obsolete. The terms and conditions specified in that agreement do not bind the parties any more. If the “tenant” continues to stay at the property and the “landlord” makes no objection, the relationship between them will evolve into a tenancy at sufferance: that is to say, the “landlord” suffers the presence of the “tenant” at the property.

Do I need to sign a new contract to renew the lease?

Q.

A.

The correct and legal process of repossession is mainly divided into three steps. The time will be determined by each case, but each process requires a certain amount of time. To sum up the entire closing process, it takes about three months at the fastest.

How long does it take for the recovery of possession service?

Q.

A.

No. Legally, the deposit is intended to protect the owner, ensuring that the owner can take back the unit in its entirety when the lease term expires. In case any problems are found, the owner can use the deposit to pay for the repairs. Generally, if the tenant pays the rent on time, maintains the property in good condition, and abides by the relevant laws. After the tenant moves out of the unit, the landlord should pay the deposit back to the tenant within the time limit after inspection. In addition, if the tenant pays the rent with a deposit, it is actually a breach of the tenancy agreement, and the landlord has the right to go to the Lands Tribunal to apply for repossession of the property through legal channels.

Can the deposit be used to offset the rent?

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