Associated Costs Click Property Agency 奇力地產有限公司
Practice and Customs
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Associated Costs
Government Rates
It is a government tax usually paid by tenant on a quarterly basis. It is calculated at 5% of the ratable value which is subject to government’s evaluation.
Government Rents
Government Rents is formerly known as the “Crown Rent”. It is a quarterly tax levied by the government which is calculated at 3% of the ratable value of a property. As not all properties in Hong Kong are liable to government rents (depending on Government Lease terms of the property), owner and tenant of the property are advised to check carefully if the property is liable to this tax. Government Rents can be payable by landlord or tenant depending on tenancy agreement terms. Most properties in Kowloon and all properties in the New Territories are liable to Government Rents. For Hong Kong Island properties, most are not likely to be liable to this tax.
Stamp duty
Stamp duty is a one-time government tax which in normal case shared equally between landlord and tenant. It’s calculation is based on contract amount and tenancy terms.
Legal Cost
Tenant and landlord may appoint their own solicitor as legal advisor for reviewing of Agreement content before signing. Usually landlord and tenant bear their own legal costs unless it is specially stated in the contract. For single-owned or Grade “A” building landlords, they expect tenants to accept standard agreement format and are less willing to allow major amendment of the terms
Agency Fee
It is a charge payable by tenant or landlord or both to Estate Agents for successful introduction of premises. For leasing premises, agency fee is usually ranging from half to one month’s rental fee depending on mutual agreement between Estate Agency and landlord or tenant.

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