Orientation and Home-Finding Services

Orientation
At Grand Pacific Realty Limited we see orientation as an integral part of our home finding service. Your leasing negotiator will conduct a general orientation tour on your first whole day of home-finding. In this way, you will learn where schools, clubs, hospitals, shopping outlets and transport facilities are in relation to geographical areas offering suitable housing.

Schools
We will provide you with information on suitable schools for your children and look after your school appointments in your preferred schools.

Home-finding
At Grand Pacific Realty Limited our unique network database, Property Information Management System (PIMS) provide us with access to all available property listings that are on the market at any time. Once your family's budget and criteria are set, your qualified negotiator will arrange inspections, brief you fully on the auributes of particular buildings and locations and help you eliminate. shortlist and make a final choice.

In conjunction with your housing officer, we will then arrange negotiation of terms, redecoration work and completion of documentation, the end result of which will be that you are able to take delivery of the keys to your new home on the appointed data.

Ongoing Services
Our relationship with you will not end there. We are available for follow-up and market advice as your two year learn elapses and thereafter throughout your stay in Hong Kong

Our Team
Our team comprises experienced property consultants who have lived in Hong Kong for some time and who know and understand Hong Kong. Our pith is that you should benefit fully from their care, their knowledge of the area and their expertise in the residential property sector.

Here are the definitions of some common expressions used in the Hong Kong leasing market.

Term
A lease or tenancy agreement is a contract between a landlord and a tenant which usually lasts for a term of two years. Sometimes landlords are prepared to grant a 'break clause' whereby, under certain carefully defined circumstances, a tenant may give early notice of termination.

Break Clause
A 'break clause' within a lease term allows the tenant to give 2 or 3 months notice of termination after a certain period of time has elapsed (usually after one year or 15 months).

Landlord
The landlord may be one individual who owns one unit in a strata-titled block or alternatively a major developer or investor who owns the entire development.

Tenant
In the case of expatriate companies taking a lease, the company is usually designated as the tenant whilst the employee is the occupant. On occasions landlords may grant a personal lease which allows an individual, as opposed to a corporation, to sign the tenancy agreement. The tenant is obliged to comply with all of his obligations under the lease, including the payment of rent and other charges.

Rent
This is the agreed monthly amount written within the tenancy agreement which remains the same for the term of the lease and which usually excludes the standard management fee for the building and government rates.

Government Rates
A property tax levied quarterly by the Hong Kong SAR Government which is usually equivalent to approximately 4.5 per cent of the rent.

Stamp Duty
A duty payable to the government upon the signing of a lease. The amount is 0.5 per cent of the annual rent and is usually divided equally between both landlord and tenant.

Security Deposit
On the signing of a tenancy agreement, the tenant pays to the landlord a sum of money as security against any failure to conform with the terms of the lease. This is usually two months' rent plus two months' management fees, but in the case of personal leases it can be three months' rent plus three months' management fees.

Agency Commission
Most agents charge a fee of up to 50 per cent of one month's rent as a fee from the tenant for a successful leasing transaction. This can be flexible in certain circumstances.

Legal Fees
Common practice dictates that a landlord will instruct and pay his solicitor for drafting a lease whilst a tenant will pay his own solicitor for any advice to amend the contract.

Renewal of Tenant
An 'existing tenant' usually has the right of renewal of a tenancy for a further term provided he is prepared to pay the market rent and also if the landlord does not require the premises for self occupation. Full details of the law are defined in the Landlord and Tenant (Consolidation) Ordinance and professional legal assistance is recommended to those who are unsure of their legal rights.

Services Apartments
Three is a wide selection of short term, fully furnished accommodation available on the market, usually simulated within hotel complexes or close to the Mid-Levels escalator. Serviced apartments usually offer a diverse selection of services including maid, laundry and linen hire services, Terms are usually flexible.