In short. A Hong Kong office costs more than the quoted rent: add the building management fee, and check who pays rates and government rent. Ready Office quotes one all-in figure covering rent and management fee, with facilities, management and IT support available.
Asking rents in Hong Kong are quoted per square foot per month, and they rarely tell you the whole monthly cost. Here are the usual parts.
The usual charges
- Rent. The landlord's asking rent, quoted per square foot per month on gross area, often "exclusive" of the items below.
- Building management fee. A monthly charge per square foot for running the building: security, cleaning of common areas, lifts and air-conditioning.
- Rates. A property charge based on rateable value. The law charges it to the property owner, and office leases often pass it to the tenant. Check your lease. More on rates and government rent.
- Government rent. A separate charge on the land, also based on rateable value. Leases vary on who bears it.
- Utilities and services. Electricity, water, internet and telephony, depending on the space and the lease.
- Deposit. A security deposit is typically two or three months of rent and management charges.
Why one number helps
Comparing two offices on rent per square foot alone can be misleading. A lower rent with a higher management fee, or a larger floor that you do not need, can cost more each month.
That is why Ready Office quotes one all-in monthly figure on enquiry, covering the rent and the building management fee. Rates and government rent are not included in it. We also offer facilities services, management and IT to support the space, and we confirm exact terms and what is included when you enquire.
Before you sign
Ask the landlord or agent to list every charge in writing, along with the lease term, any rent-free period, and what happens when the lease ends. If you are unsure, take advice from a surveyor or solicitor.
