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This Lease For Residential Property is essential for formalizing residential tenancy arrangements in Hong Kong's dynamic property market. It serves as a legally binding agreement between landlords and tenants, incorporating mandatory provisions under Hong Kong law while addressing practical aspects of residential letting. The document is designed for use in both individual and corporate leasing scenarios, covering everything from basic rental terms to specific requirements under Hong Kong's property regulations. It includes provisions for security deposits, utilities, maintenance responsibilities, and building management requirements, while ensuring compliance with the Landlord and Tenant (Consolidation) Ordinance and other relevant Hong Kong legislation. The agreement is particularly important given Hong Kong's unique property market characteristics and high-density residential environment.

1. Parties: Identification of the landlord and tenant with full legal names and Hong Kong ID/passport numbers

2. Background: Brief context explaining the intention to create a residential tenancy

3. Definitions: Key terms used throughout the agreement including 'Premises', 'Term', 'Rent', and 'Security Deposit'

4. Demise: Formal grant of the lease and precise description of the property being leased

5. Term: Duration of the lease, including start and end dates, and any option to renew

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

7. Security Deposit: Amount, payment terms, conditions for refund, and permissible deductions

8. Utilities and Other Charges: Responsibility for utilities, management fees, government rates, and other charges

9. Use of Premises: Permitted use as residential property and restrictions on use

10. Tenant's Obligations: Core responsibilities including maintenance, repairs, alterations, and conduct

11. Landlord's Obligations: Essential obligations including structural repairs and quiet enjoyment

12. Insurance: Requirements for insurance coverage by both parties

13. Termination: Grounds for termination, notice requirements, and consequences

14. Handback: Conditions for returning the property and handling of tenant improvements

15. Notices: Process for serving formal notices between parties

16. Governing Law: Confirmation of Hong Kong law as governing law