Step 1: Find a flat to rent/ look up advertisements
Sources of properties listing for rent
Members of the public may choose the most suitable type of flat to rent based on their personal preferences. Flats directly leased by developers are usually well equipped but the rents are higher. Serviced apartments provide a more flexible lease period and hotel-style services such as laundry and housekeeping, but the rents will also be more expensive and the decor cannot be altered. Most of the second-hand properties for rent in the market have a larger supply and a greater variety of choice; the amount of rent can be negotiated with the landlord but the standard of maintenance and equipment may vary and the lease period is usually longer, at least one year or more.
Listing by estate agents
In general, property rental transactions are usually conducted through licensed agents.
Reminder from the EAA: Unless exempted otherwise, anyone engaging in estate agency work in Hong Kong are required to hold a licence issued by the EAA.
Property advertisements1,2 which were issued by licensed estate agents are required to contain a series of information, including:
- the business name of the licensed estate agency companies,
- the licence number (or the number of statement of particulars of business (“SPOB”),
- the “Property Number” assigned to the listed property, and
- the date on which the advertisement is issued or updated.
Additionally, licensed estate agents must sign an “Estate Agency Agreement” with their clients. (Form 6: Estate Agency Agreement for Leasing of Residential Properties in Hong Kong (for use between an estate agent and a tenant)
By signing this agreement, both parties can obtain accurate information about each other, providing greater protection for themselves. Additionally, one may lodge a complaint with the EAA if one suspects any misconduct committed by the estate agent in the latter’s agency service. Click here to learn how to ascertain whether an estate agent holds a valid licence.
Listing by the landlords
Though potential tenants may directly deal with the landlord, for example, through online property platforms, there are potential risks, such as safety and legal issues, in seeking a flat by oneself. Licensed estate agents possess professional knowledge in renting properties and are regulated by the EAA. Prospective tenants may consider appointing them to introduce properties for greater protection.
If one chooses not to appoint a licensed estate agent but to seek or list a property by oneself or via an online platform, he should be extra careful and seek professional advice when necessary. He should pay extra attention to personal safety when viewing properties or allowing strangers to view his property. If tenants and landlords arrange the lease on their own, it does not fall under the jurisdiction of the EAA.
1 Please refer to Section 14 (1) of the Estate Agents (Licensing) Regulation.
2 Please refer to the Practice Circular (No. 18-02(CR)).