Lease Information
Rental
Always referred to as a monthly rental, and is payable monthly, in advance, by the Tenant to the Landlord. This amount is agreed during the initial negotiation process, and is constant throughout the lease term.
Government Taxation
The landlord shall pay whatever taxes are required by the relevant departments of the government in accordance to the laws and regulations relating to the leasing of the property.
Management Fees
Management fees is included in the rental, this is paid by the landlord and usually covers building maintenance, cleaning services, security, daily household rubbish disposal, and amenities. The charge is levied by the Building Management Company, based on several factors including the age of the building, number of units in the building and facilities (although sometimes use of the facilities is charged independently) and is invariably annually reviewed .
Security deposit
A security deposit of 2 months rent is required before moving-in, and refunded at the end of the term without interest. Bank Guarantees are sometimes accepted.
Lease Term
Usually one year fixed lease. There are some serviced apartments available offering fully-furnished suites for short periods (1-6 months), most two year leases will include a tenants’ break-clauses allowing the tenant to give 2 months written notice at any time after 10 months of the lease. This means that tenants have a minimum stay of 12 months
Utility Information
Generally all the utility bills (apart from the cable or satellite TV fee) are paid by the tenants, except in some serviced apartments where landlords are responsible for all the utility payment. All utilities are charged monthly.
Renew a tenancy
The landlord issues written notice to the tenant between 2 and 3 months prior to the expiry of the tenancy to indicate their intention regarding renewing the tenant. Within 2 months of receiving the written notice the tenant has to use written reply to accept or refuse the new tenancy.
Lease termination & penalty
Normally, there are break lease rights within the contract. Early terminations prior to being able to enact the break-clause have to be negotiated with the landlord who may ask for payment of a penalty or the introduction of a replacement tenant.
Tenants
Company Lease:
The Tenant is the company whilst the occupant is the employee. This type of lease is more desirable to the Landlord as it provides a sense of security.
Personal Lease:
The Tenant is the occupant. In these situations, the Landlord will often insist that a company 'guarantee' letter is issued to ensure that the rental will be paid throughout the lease term. Subletting is almost never permitted.