Document background
The Rent Memorandum is commonly used in Hong Kong's property market when parties need a simplified yet legally binding rental document. It serves as an alternative to a full lease agreement, particularly suitable for shorter-term rentals or straightforward arrangements. The document typically includes essential information such as party details, property description, rental terms, and basic obligations, while complying with Hong Kong's property laws and regulations. A Rent Memorandum must be properly stamped according to the Stamp Duty Ordinance and can be used for both residential and commercial properties. While more concise than a standard lease, it provides sufficient legal framework for the rental relationship and can be especially useful in situations requiring quick execution or where parties prefer a less complex agreement.
