The Termination of Tenancy Agreement is a crucial document used in Hong Kong when parties mutually agree to end their landlord-tenant relationship, either before the original lease expiration or at term end. This document is essential for both residential and commercial properties in Hong Kong, providing a clear framework for termination while ensuring compliance with local property laws, particularly the Landlord and Tenant (Consolidation) Ordinance. It covers critical aspects such as termination date, handover conditions, deposit refund, utility settlements, and mutual release from obligations. The agreement helps prevent future disputes by clearly documenting the terms agreed upon by both parties and can be used as evidence of proper termination for various purposes, including updating land registry records and closing utility accounts.
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1. Parties: Identification of the landlord and tenant, including full names, addresses, and Hong Kong ID/BR numbers
2. Background: Details of the original tenancy agreement including date, premises details, and current rental terms
3. Definitions: Definitions of key terms used in the agreement
4. Termination Date: Specific date when the tenancy will be terminated
5. Mutual Agreement to Terminate: Declaration of mutual consent to terminate the tenancy
6. Handover Requirements: Conditions for returning the premises, including state of repair and cleaning requirements
7. Settlement of Accounts: Details of final rent payment, utility bills, and management fees
8. Deposit Refund: Terms and timing for the return of the security deposit
9. Release and Discharge: Mutual release from obligations under the original tenancy agreement
10. Governing Law: Confirmation that the agreement is governed by Hong Kong law
11. Execution: Signature blocks for all parties
1. Early Termination Fee: Include when there is a penalty or compensation payable for early termination
2. Outstanding Repairs: Include when specific repairs need to be completed before termination
3. Reinstatement Works: Include when the tenant needs to restore the premises to its original condition
4. Handover Inspection: Include when a formal inspection process is required
5. Surviving Provisions: Include when certain provisions of the original lease should survive termination
6. Forwarding Address: Include when future correspondence needs to be specified
7. Third Party Consents: Include when mortgagee or head landlord consent is required
1. Schedule 1 - Original Tenancy Agreement: Copy or key details of the original tenancy agreement
2. Schedule 2 - Inventory List: List of furniture and fixtures to be checked during handover
3. Schedule 3 - Outstanding Payments: Detailed breakdown of any outstanding amounts to be settled
4. Schedule 4 - Handover Checklist: Checklist of items to be verified during the handover inspection
5. Appendix A - Photographs: Current photographs of the premises condition (if required)
6. Appendix B - Utility Account Details: List of utility accounts to be terminated or transferred
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