The Residential Lease Agreement With Option to Purchase is a specialized legal instrument used in Hong Kong's real estate market when a property owner wishes to lease their residential property while giving the tenant the exclusive right to purchase it under pre-agreed terms. This document is particularly useful in situations where potential buyers want to 'try before they buy' or need time to arrange financing while securing their interest in the property. The agreement must comply with Hong Kong's property and tenancy laws, including the Landlord and Tenant (Consolidation) Ordinance and the Conveyancing and Property Ordinance. It typically includes comprehensive terms covering both the lease period (rent, maintenance, utilities) and the purchase option (price, exercise period, completion requirements), making it more complex than standard residential tenancy agreements.

1. Parties: Identification of the landlord/seller and tenant/potential buyer, including full legal names, identification numbers, and contact details

2. Background: Context of the agreement, including brief property description and parties' intention for lease with purchase option

3. Definitions: Key terms used throughout the agreement, including 'Property', 'Term', 'Option Period', 'Purchase Price', etc.

4. Property Details: Comprehensive description of the property, including address, floor area, and included fixtures/fittings

5. Lease Terms: Core rental terms including duration, rent amount, payment schedule, and security deposit

6. Option to Purchase: Terms of the purchase option, including option fee, exercise period, and agreed purchase price or pricing mechanism

7. Tenant's Covenants: Tenant's obligations regarding property use, maintenance, repairs, and conduct

8. Landlord's Covenants: Landlord's obligations regarding property maintenance, repairs, and services

9. Exercise of Option: Procedure for exercising the purchase option, including notice requirements and completion timeline

10. Property Condition: State of the property at lease commencement and requirements for maintaining condition

11. Insurance: Insurance requirements for both parties during the lease term

12. Termination: Circumstances and procedures for early termination of the lease

13. Assignment and Subletting: Restrictions on assigning or subletting the property

14. Notices: Requirements for giving valid notices under the agreement

15. Governing Law: Confirmation of Hong Kong law governance and jurisdiction

16. Execution: Signature blocks and execution requirements