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Business

Matters Relating to Renting Flats

Rental and deposit payments

It is common practice for rent to be paid monthly. The first payment should be made on the day the tenancy starts, while subsequent payments should be made on the same day of each month. The deposit amount is usually equal to a month’s rent for a 1-year tenancy contract and 2 months’ rent for a 2-year tenancy contract. This is payable upon signing the tenancy agreement, together with the first month’s rent. The tenant should not pay more than a month's rent.

As proof of payment, the tenant should pay the rent and rental deposit by cheque. They should also move into the flat immediately after collecting the keys.

Disputes between tenants and flat owners

Any disagreements, such as the rental amount, payment or forfeiture of deposits, right to terminate tenancy, and rental periods, are private matters between the tenant and the flat owner. Flat owners and tenants should try to solve the dispute amicably and reach mutual agreement.

You should advise your tenants to read and understand all the terms and conditions in the tenancy agreement carefully before signing it.