Tenancy Release Form Template for Hong Kong

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Key Requirements PROMPT example:

Tenancy Release Form

"I need a Tenancy Release Form for my commercial property in Central, Hong Kong, where both parties have agreed to early termination effective March 1, 2025, with special provisions for the return of renovations made by the tenant."

Document background
The Tenancy Release Form is a crucial document in Hong Kong's property market, used when parties mutually agree to terminate a tenancy agreement before its natural expiration or to formally document the end of a tenancy. It operates under Hong Kong law, particularly the Landlord and Tenant (Consolidation) Ordinance, and serves to protect both landlords and tenants by clearly documenting the termination terms, financial settlements, and property condition. This document is essential for properly closing out lease obligations, handling security deposit returns, and preventing future disputes. It can be used for both residential and commercial properties and should be properly executed and potentially stamped in accordance with Hong Kong requirements.
Suggested Sections

1. Parties: Identification of the landlord and tenant, including full names, addresses, and any reference numbers from the original tenancy agreement

2. Background: Reference to the original tenancy agreement including its date, property address, and term

3. Definitions: Key terms used in the release form, including 'Original Tenancy Agreement', 'Property', 'Release Date'

4. Confirmation of Termination: Clear statement of the agreed termination date and mutual agreement to end the tenancy

5. Mutual Release: Statement releasing both parties from future obligations under the tenancy agreement

6. Return of Security Deposit: Details of the security deposit return arrangement and timeline

7. Vacant Possession: Confirmation that the tenant will deliver or has delivered vacant possession of the property

8. Execution: Signature blocks for all parties and witnesses

Optional Sections

1. Outstanding Payments: Used when there are any pending utility bills, rent, or other charges to be settled

2. Property Condition: Include when specific agreements about the condition of the property or repairs need to be documented

3. Keys and Access Devices: Used when there are specific arrangements for returning keys, access cards, or other property access devices

4. Surviving Obligations: Include when certain obligations need to survive the termination

5. Personal Property: Used when addressing abandonment or removal of tenant's personal property

6. Third Party Rights: Include when the contract needs to address rights of third parties under the Contracts (Rights of Third Parties) Ordinance

Suggested Schedules

1. Schedule 1 - Financial Settlement: Detailed breakdown of all financial settlements including security deposit, outstanding rent, and utilities

2. Schedule 2 - Property Inspection Report: Documentation of the property's condition at the time of release

3. Schedule 3 - Inventory List: List of any fixtures, fittings, or items included in the original tenancy that need to be accounted for

4. Appendix A - Photographic Evidence: Photos documenting the property's condition (if required)

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

Relevant Industries

Real Estate

Residential Property

Commercial Property

Retail

Industrial

Hospitality

Office Space Management

Property Development

Property Investment

Facilities Management

Relevant Teams

Legal

Real Estate

Property Management

Facilities Management

Operations

Asset Management

Tenant Relations

Compliance

Administration

Leasing

Relevant Roles

Property Manager

Real Estate Agent

Leasing Manager

Facilities Manager

Legal Counsel

Property Administrator

Asset Manager

Building Manager

Tenant Relations Manager

Property Operations Manager

Compliance Officer

Real Estate Portfolio Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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