The government is proposing a law to demolish the rental restrictions, where for many years have been a protection for tenants and unfairness to property owners rendering a result of many tenants refusing to pay rent or to vacate the premisses.
The Democrats object the Government’s proposal, and the Liberals counter propose to remain a restriction for all rental charges on below HKD$3000 with a property owner notification of no less than 3 years prior to any reclamation of their rented properties under any contract. This 3 year notification is even a tougher restriction than the original restriction where the owner can reclaim the property for the owners own use, for rebuild, or tenant refusal to pay rent.
With most rental contracts being a 1 or 2 year agreement and the Liberals’ counter proposal, suppose a tenant signs a 1 year rental contact one day, the owner is then supposed to have told the tenant 2 years before they even met should the owner only wish to let the property for 1 single year?!
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