Periodic Lease Agreement Template for Hong Kong

The Periodic Lease Agreement is a fundamental document in Hong Kong's property market, used when parties require flexibility in their lease arrangement while maintaining legal protection. This agreement type is particularly suitable when the exact duration of the tenancy is uncertain or when parties prefer the flexibility of a rolling arrangement. The document complies with Hong Kong's legal framework, particularly the Landlord and Tenant (Consolidation) Ordinance, and includes essential provisions for rent, deposits, maintenance, termination notice periods, and other key terms. It's commonly used in both residential and commercial contexts, offering protection to both landlords and tenants while allowing either party to terminate with appropriate notice. The periodic nature of the agreement means it continues indefinitely until proper notice is given by either party, making it distinct from fixed-term leases.

1. Parties: Identification and details of the landlord and tenant, including full names, identification numbers/business registration, and correspondence addresses

2. Background: Brief context explaining the purpose of the agreement and confirming the landlord's authority to lease the property

3. Definitions: Key terms used throughout the agreement, including 'Premises', 'Commencement Date', 'Rent', 'Deposit', etc.

4. Demise: The formal grant of the lease, specifying the property being leased and the nature of the periodic tenancy (e.g., month-to-month)

5. Rent and Payment Terms: Details of rent amount, payment frequency, method of payment, and due dates

6. Deposit and Other Charges: Specification of security deposit, utilities, management fees, and other charges

7. Tenant's Covenants: Tenant's obligations including maintenance, permitted use, restrictions, and compliance with regulations

8. Landlord's Covenants: Landlord's obligations including quiet enjoyment, insurance, and structural maintenance

9. Termination: Provisions for ending the tenancy, including notice periods and procedures

10. Insurance and Liability: Requirements for insurance and allocation of risk between parties

11. Notices: How formal communications between parties should be made and delivered

12. General Provisions: Standard boilerplate clauses including governing law, entire agreement, and severability