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This 12 Month Tenancy Agreement template is specifically designed for residential property leases in Hong Kong, incorporating all necessary elements required under Hong Kong law and common market practice. It serves as a legally binding contract between landlords and tenants, providing comprehensive coverage of essential terms including rent payment, security deposits, maintenance obligations, and termination provisions. The document is structured to comply with the Hong Kong Landlord and Tenant (Consolidation) Ordinance, Stamp Duty Ordinance, and other relevant legislation. It is commonly used for private residential properties, serviced apartments, and individual units within multi-story buildings, providing protection for both parties' interests while ensuring clarity in their respective rights and obligations. The agreement includes provisions for stamp duty requirements, building management regulations, and other Hong Kong-specific legal requirements.

1. Parties: Identification and details of the landlord and tenant, including full names, ID/passport numbers, and correspondence addresses

2. Background: Brief context explaining the parties' intention to enter into a tenancy agreement for the specified property

3. Definitions: Definitions of key terms used throughout the agreement including 'Property', 'Term', 'Rent', 'Deposit'

4. Demise: The formal grant of tenancy, specifying the property address and confirming the landlord's right to lease

5. Term: Duration of the tenancy, including start and end dates

6. Rent and Payment Terms: Rent amount, payment schedule, method of payment, and late payment consequences

7. Deposits: Details of security deposit, utility deposits, and conditions for their return

8. Tenant's Covenants: Tenant's obligations including maintenance, use of premises, restrictions on alterations, subletting

9. Landlord's Covenants: Landlord's obligations including maintaining structure, insurance, quiet enjoyment

10. Utilities and Charges: Responsibility for utilities, management fees, government rent, and rates

11. Insurance: Requirements for insurance coverage by both parties

12. Termination: Circumstances and procedures for early termination, break clauses, and consequences of default

13. Notices: Process and addresses for serving formal notices between parties

14. Governing Law: Confirmation that Hong Kong law governs the agreement and jurisdiction for disputes

15. Entire Agreement: Standard clause confirming the agreement represents the entire understanding between parties