The Rental Purchase Agreement is a specialized contract type used in Hong Kong when parties wish to combine a rental arrangement with a future purchase option. This arrangement is particularly useful in situations where immediate purchase is not feasible or desired, but there is interest in securing future ownership rights. The document addresses both the immediate rental relationship and the potential future sale, incorporating requirements from Hong Kong's Landlord and Tenant Ordinance, Hire Purchase Ordinance, and related legislation. It specifies rental terms, purchase price, credit arrangements, maintenance obligations, and the mechanism for transitioning from rental to ownership. The agreement is commonly used in both commercial and residential contexts, providing flexibility while ensuring legal compliance and protection for all parties involved.

1. Parties: Identification of the owner/seller and the renter/purchaser, including full legal names, addresses, and registration details for companies

2. Background: Context of the agreement, including brief description of the property and purpose of the rental purchase arrangement

3. Definitions: Definitions of key terms used throughout the agreement, including 'Rental Period', 'Purchase Option', 'Purchase Price', etc.

4. Property Description: Detailed description of the property subject to the rental purchase agreement, including any fixtures and fittings

5. Rental Terms: Terms of the rental period, including rent amount, payment schedule, and duration

6. Purchase Option: Details of the purchase option, including purchase price, how and when the option can be exercised

7. Rental Payments and Credits: Structure of rental payments and how they may be credited towards the purchase price

8. Maintenance and Repairs: Responsibilities for maintenance, repairs, and improvements during the rental period

9. Insurance and Risk: Requirements for insurance coverage and allocation of risk during the rental period

10. Default and Termination: Circumstances constituting default, consequences, and termination procedures

11. Completion of Purchase: Process and requirements for completing the purchase when option is exercised

12. General Provisions: Standard contractual provisions including notices, amendments, governing law, etc.