Exit, renewal or termination of the lease
Your Scout Real Estate agent is also here to help you manage a potential rupture renewal or termination of contract.
Exit of a lease
In general in China, landlords will not rent out their apartments, villas or courtyards for less than one year and most of the time, expats will rent between 2 to 4 years the same home.
Landlords will actually prefer to rent for long terms especially with secured foreign employees, however, your company could suddenly ask you to move to another country, or you would like yourself to move out towards another preferred condominium, go back to your home land, etc.
What will happen if you do want to break your leasing contract?
According to Chinese practices, if you do break your contract during your lease term; the landlord will be able to keep the full or part of your deposit (Even more if any additional damage is caused inside or outside of the accommodation)
For those reasons it is very important to specify clearly inside your contract at first, that after one year of contract, with a two month prior notice, you could be able to move out of your home without any special compensation to give away. That kind of clause could really help in an exit situation to save money.
Renewal of a lease
One of China most problematic situation for people that rent their home is that they might have to move very often due to extreme rental price increase. The renewal of a contract can be a very long and complex negotiation.
In fact, each landlords in the world will try to get the best rental out of their property but will also consider the time to find another tenant and so may consider to increase not so much the rental in case of losing their tenants.
However, in a city like Beijing for instance where price rental have increase so fast years after years, landlords are automatically trying to raise their rental prices accordingly to the current market price.
For that reason it is recommended to rent your home for as long as you can with a fix rental plus an open exit or termination clause that does not take all your deposit in case of unexpected rupture.
Termination of a lease
Scout Real Estate after sales team will be here to assist you in your last days.
If no renewal is plan, then our team will after receiving your first approval inform the owner as well as your company of your moving date.
Our team will then start preparing all the relevant documents (furniture inventory, check-out list, etc), coordinate final bill payments (water, electricity, gas, telephone, internet, etc) and rental deposit returns as well as collect all keys, mails, access cards, utility cards, instruction manuals, passwords (ADSL & safe) and remote controls.
Any damage caused during your home stay will have to proclaim to us in advance for repair.