Document background
The Overrenewal Letter is a crucial document in Hong Kong's property leasing landscape, used when existing tenants and landlords wish to extend their lease arrangement beyond its current expiry date. This document type is essential for both commercial and residential properties in Hong Kong, providing a streamlined approach to lease renewal without the need for a completely new lease agreement. The letter typically includes reference to the original lease, specifies the new term duration, states any revised rent amounts, and outlines any modified terms or conditions. It must comply with Hong Kong's Landlord and Tenant (Consolidation) Ordinance and consider stamp duty requirements under local law. The Overrenewal Letter serves as a formal offer from the landlord to the tenant and, once accepted, becomes a binding extension of the original lease agreement.
