(A version of this article was published in January 2012)
Juliet Risdon
With sales prices at a record high, most people arriving in Macau for the first time are looking to rent a property rather than make purchase.
Here are the final 5 top questions we are asked by tenants;
5. Can a landlord charge a fee for late payment of rent?
Yes.
According to Macau Law, when a rent is late by more than 8 days, the landlord is entitled to add a late payment penalty equivalent to 50% of the rental amount.
Should a rent remain outstanding for more than 30 days, the late penalty may be increased up to 100%.
4. Can a landlord increase rent anytime?
Only if the tenancy agreement allows them to do so.
Under normal circumstances, the landlord can only increase the rent within the terms and conditions of the tenancy agreement.
If the agreement stipulates the rent and the term of the tenancy, but does not specifically state that the rent can be reviewed during the term of the agreement, then the rent cannot be increased.
3. Will the Landlord pay my agent?
It is unlikely.
In each transaction, there is usually an agent representing the tenant and an agent representing the landlord.
The agent has the responsibility to look after their individual client’s best interests.
You are paying your agent, and the agent should therefore represent your best interests.
The owner should pay their own agent, and in turn their agent should represent the best interests of the owner.
2. Do I expect the Landlord to be around for the long-term?
This is a difficult question to answer.
Few owners will divulge their true intentions when it comes to property.
You can ask for a brief outline of the owner such as their background, their location and their history, and see what you can deduce from that.
1. Does the Landlord maintain a property inside and out?
It is the responsibility of the landlord to keep the property in a safe condition, and the responsibility of the tenant to keep the property in the condition in which it is handed over.
Many Macau owners will only provide a turnkey tenancy. In other words, once the key is handed over, the apartment is the entire responsibility of the tenant.
On the other hand, tenants often feel that it is the responsibility of the landlord to fix every issue in an apartment, even a consumable issue such as a light bulb.
In reality and in the absence of any special clauses in the tenancy agreement, the owner is responsible for ensuring that the property is SAFE to inhabit, whilst the tenant is responsible for keeping it in the condition in which it was handed over.
Juliet Risdon is a Director of JML Property and a property investor.
Having established the company in 1994, JML Property offers Investment Property & Homes. It specializes in managing properties for owners and investors, and providing attractive and comfortable homes for tenants.
www.JMLProperty.com
info@JMLProperty.com
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