Document background
The Rental Termination Agreement is a crucial document used in Hong Kong when parties mutually agree to end a tenancy before its scheduled expiration date. This document is essential for properly documenting the terms of early termination, protecting both parties' interests, and ensuring compliance with Hong Kong's property laws, particularly the Landlord and Tenant (Consolidation) Ordinance. It typically includes provisions for the termination date, property handover conditions, settlement of accounts, return of security deposit, and mutual release from future obligations. The agreement helps prevent future disputes by clearly outlining each party's rights and responsibilities during the termination process and can be used for both residential and commercial properties.
