Apart from looking for a suitable flat, you are recommended to make estimation on the initial expenditures incurred by renting a flat through property agent.
1. Expenditure for renting a flat:
The level of rent depends very much on its location, size and ancillary facilities available. On top of the monthly rental, a number of charges and fees may incur in a signing a leasing contract through property agent including:
* Refundable deposit (normally at 2 months' rental)
* Rental for the first month
* Commission charged by the property agent (ranges from half to a months’ rental)
* Stamp duty for leasing of property charged by the government (0.25% - 0.5% of the yearly rental) http://www.gov.hk/en/residents/taxes/stamp/stamp_duty_rates.htm
2. Expenditure for opening of utilities account (water, electricity and gas supply):
Before signing the tenancy agreement, you should confirm with the landlord if you have to apply for utility services by yourself, transfer the existing account to you, or settle the bill directly with the landlord or the utilities supplier. Please refer to the following links for details in opening or transfer of utilities account:
Electricity – around HK$500 deposit
Gas – HK$600 deposit
There are 2 kinds of LPG services available on market. One is Domestic Piped-in and the other one is Domestic Cylinder. The price in April 2011 listed from one of the LPG suppliers is as follow:
* Domestic Cylinder Wholesale Price - HK$13.42 per kg
* Domestic Piped-in List Price - HK$39.64 per cubic metre
The monthly charge for each type of utility depends on your daily consumption. Some utility suppliers impose a minimum monthly fee. Detail information can be found from the suppliers' website.