Leasing Conditions
Most properties are leased out in good
decorative condition, furnished, and
often but not always provided with
appliances which may include cookers,
refrigerators, washing machines,and
air-conditioners, but excluding soft
furnishings such as carpets and quilt.
Except for serviced apartments, there
are far fewer furnished apartments
available, and these few are usually
smaller units with only one or two
bedrooms.
Air-conditioners are essential for
comfortable living during the summer
months and, if not provided by the
Landlord, will need to be installed by
the tenant.
There are also serviced apartments
available offering good to excellent
facilities for short lease periods of
three months or longer. The rentals for
these units are comparatively higher.
Most have one or two bedrooms units are
available.
Rentals
Rentals are usually in Renminbi payable
monthly in advance and, except for
serviced apartments, are usually
exclusive of monthly management fees and
Government rates, for which an
additional 10% to 15% of the rent should
be budgeted.
Deposits
These are usually equivalent to one or
two, occasionally three, months' rental
and are payable to the landlord when an
offer to lease is accepted. Once the
Lease Agreement is signed, the deposit
is held by the Landlord without
interest, and refunded to the tenant
upon expiration of the lease. The cost
of any damage or reinstatement work
necessary to the apartment, other than
fair wear and tear, will be deducted
from the deposit before repayment.
Lease Agreement
Usually one year fixed lease. There are
some service apartments available
offering fully-furnished suites for
short periods(1-6 months), most two year
leases will include a tenant's
break-clause allowing the tenant to give
2 or 3 months written notice at any time
after 9-10 months of the lease. This
means that tenants have a minimum stay
of 12 months without incurring a penalty
should they decide to leave.
Government Rates & Rent
Rent Rates are a form of property tax on
leased accommodation, assessed by and
payable to Government
at 4.5% of rental
(0<monthly rent<5000rmb) or at 6.18% of
monthly rental (rental>=5000rmb). These
charges are payable usually quarterly in
advance by the tenant.
Management Fee
These fees, payable by all occupants,
provide for communal services such as
security guards, cleaning and
maintenance of common areas and
amenities. The amount varies according
to the age and number of units in a
building and the type of amenities or
quality of services provided.
Agency Fee
An introductory fee of half of one
month's rental is payable by the tenant.
In accordance with local practice, the
agent may also accept a fee from a third
party such as the Landlord. Package
details available to corporations on
request.
Utilities
Except for serviced apartments, it is
the tenant's obligation to arrange for
connection of utilities such as gas,
electricity ,water and telephone/fax
lines.
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