TenantsLeaseLandlordsLegalMoving

Tenant Rights During Property Sales

3 minutes

Listen to the blog audio:

The blog post has been auto-translated.

Tenant Rights During Property Sales post illustrative image The property market atmosphere is fluctuating, and many landlords suddenly list their properties during the lease period. Tenants are most worried about two things: 'Will I be evicted immediately?' and 'Is my deposit safe?' The following four common questions and answers help tenants and landlords clarify their rights and responsibilities, reducing disputes caused by sudden handovers.

If the lease has not expired, but the landlord suddenly sells the property, do I have to move out immediately as a tenant?

If the lease has not yet expired and the landlord decides to sell the unit, the general practice is "transfer with lease". The new buyer must take over the existing lease, and the tenant can continue to live there under the original terms. Conditions such as rent, lease period, and deposit remain unchanged, and the tenant does not have to move out immediately.

Is the lease still valid with the new owner? How is the deposit handled?

During the lease period, the new buyer has no right to unilaterally terminate the contract. As for the deposit, the old owner should transfer the full amount to the new owner. Before paying the rent, tenants should request the deed of transfer to confirm that the deposit has been safely transferred.

  • If the lease exceeds 3 years and is not registered with the Land Registry, the new owner can theoretically claim ignorance of the lease. But in reality, buyers usually know whether the unit has tenants
  • The old owner's promise to return the deposit is a "personal promise", the old owner usually transfers the tenant's deposit to the new owner to ensure that the new owner has the money to return the deposit when the lease ends
  • Tenants should confirm with the old owner or the new owner whether the deposit has been transferred to protect their own rights

If the landlord is eager to terminate the lease early, can the tenant get compensation?

If the lease is for a fixed term, the landlord needs to reach a written agreement with the tenant for early termination. The tenant can reasonably request compensation, such as moving expenses and rent differentials. After both parties reach a consensus, it is recommended to sign a simple agreement to avoid future disputes.

Can a new buyer evict the original tenant? If the buyer buys to live in and wants me to leave?

Generally, a new buyer cannot evict the original tenant arbitrarily, at least until the original lease expires. The tenant still has the right of occupancy according to the original lease. If the buyer needs to take over the property earlier, they should negotiate amicably with the tenant or wait until the lease expires to take over the unit.

If you're looking for a place to live in Hong Kong, why not try our LetsGetHome Golden Key House rental platform!

Rent a flat|Study in Hong Kong https://www.letsgethome.com/zh-HK/blogFree self-service listing https://www.letsgethome.com/zh-HK/listings/new

TenantsLeaseLandlordsLegalMoving

Nilclass: Profile picture
By LetsGetHome Rental Platform