Rent Release Form Template for Hong Kong

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Key Requirements PROMPT example:

Rent Release Form

"I need a Rent Release Form for a residential apartment in Hong Kong, where the tenant is leaving on March 15, 2025, and we need to document the return of a HKD 30,000 security deposit with no deductions."

Document background

The Rent Release Form is a crucial document used in Hong Kong's property rental market to formally conclude a tenancy relationship. It is typically executed when a lease is being terminated, whether at the natural end of the term or through mutual agreement for early termination. The document ensures compliance with Hong Kong's property laws, particularly the Landlord and Tenant (Consolidation) Ordinance, and provides legal certainty for all parties involved. The form includes essential details such as property identification, confirmation of vacant possession, settlement of financial matters, and mutual releases from future claims. It's particularly important in Hong Kong's dynamic property market where both residential and commercial tenancies require clear documentation of termination to prevent future disputes.

Suggested Sections

1. Date and Parties: Identification of all parties involved, including full legal names and addresses of landlord and tenant

2. Recitals: Reference to the original tenancy agreement, including its date and essential terms

3. Confirmation of Vacant Possession: Statement confirming the tenant has vacated the premises and returned all keys

4. Release Terms: Clear statement of the mutual release of obligations and claims between parties

5. Property Condition: Confirmation of the condition of the property upon surrender

6. Governing Law: Specification that Hong Kong law governs the release

7. Execution: Signature blocks for all parties and witnesses

Optional Sections

1. Security Deposit Settlement: Details of security deposit return or deductions, used when there is a security deposit to be addressed

2. Outstanding Payments: Settlement of any remaining rent, utilities, or other charges, included when there are pending financial matters

3. Surviving Obligations: List of any obligations that survive the release, used when certain terms need to continue

4. Keys and Access Devices: Detailed list of returned items, used when multiple access devices are involved

5. Third Party Rights: Exclusion of third party rights under the Contracts (Rights of Third Parties) Ordinance, used when third party rights need to be explicitly addressed

Suggested Schedules

1. Schedule 1 - Property Inspection Report: Detailed report of the property's condition at surrender, including photographs if applicable

2. Schedule 2 - Settlement Statement: Breakdown of any financial settlements, including security deposit calculations and deductions

3. Schedule 3 - Original Tenancy Agreement: Copy or key details of the original tenancy agreement being released

4. Schedule 4 - Handover Items: List of all items returned, including keys, access cards, and other property-related items

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Residential Property

Commercial Property

Retail

Hospitality

Office Space

Industrial

Warehousing

Mixed-Use Development

Student Housing

Relevant Teams

Legal

Property Management

Real Estate Operations

Facilities

Administration

Asset Management

Leasing

Contract Administration

Corporate Services

Property Services

Relevant Roles

Property Manager

Legal Counsel

Real Estate Agent

Facility Manager

Property Administrator

Leasing Manager

Asset Manager

Property Officer

Tenancy Administrator

Contract Manager

Real Estate Operations Manager

Corporate Real Estate Manager

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