Surrender Agreement Hong Kong Sample

Under the usual circumstances, both the landlord and the tenant cannot terminate the tenancy agreement before the expiry, unless one of them has breached the essential terms of the contract (for example.B. the tenant does not pay rent or the landlord illegally returns to the property). Early termination may, however, be possible with the existence of a valid break clause (see more in properties arrangements > the landlord and tenant > of the extension issues. In Hong Kong, it is customary for leases to include the payment of a “rental deposit” of two months` rent (or more in commercial premises) as a guarantee and “obligation to perform” obligations under the lease agreement. This depends on the terms agreed by the landlord and tenant in the tenancy agreement. It also depends on the cause of the fire (for example. B the cause of the fire, it was a simple accident or was caused by negligence or even intentional damage). In practice, it is not easy to know who is responsible. Under normal circumstances, both the lessor and the tenant cannot terminate the tenancy agreement before the expiry, unless one of them has breached the essential terms of the contract that authorizes the other party to cancel or terminate the tenancy agreement (for example. B the tenant does not pay rent or the landlord illegally re-enters the property).

More importantly, a general misunderstanding of the tenants is that after the termination of the tenancy agreement, in the event of a breach of the tenant (i.e. the non-payment of the rent that led to the eviction), the compensation to be paid to the lessor is limited to the amount of the deposit and that there is a “clean break” between the parties after the termination. This is not the case because a landlord may have suffered other losses (e.g.B. loss of rent due to the inability to find a replacement tenant for the remainder of the non-exhausted tenancy period) due to the tenant`s irregular termination (i.e., refusal). I rented a three-bed house to three tenants. One lost his job, the other got sick, the third had to cover the others because it was a common agreement. Everything is as good as they were best friends! When they abandoned their lease, they gave a fine example of a lease. Normally, I`m served an incoherent text message or a crumpled newspaper, covered in stains and apparently written by a 4-year-old.

It was refreshing. It is more common for parties to be legally represented by lawyers in commercial or commercial rental locations to meet their specific needs and interests. This is particularly the case when both parties are entities (for example. B companies) and that the lessor must require a natural person to act as guarantor on behalf of the tenant, in order to ensure the proper performance of all obligations arising from the tenancy agreement. The behavior of the landlord and tenant, where a capitulation has been deducted by law, includes: I hope you boys can help me. I signed a secure shorthold contract a week ago, but since then I`ve discovered that my owner is a hothead. My agreement does not say that my deposit goes into the deposit system, which I know is a legal requirement.