[AngieP]

How much should we budget? Are leases generally 1 year? First and last month's rent plus a security deposit of 1 month's rent is typical here. Any differences I should know about? Also, do I need to set up a bank account now? Or can the deposit be cash?

Oh, also, do most apartments have washer/dryers? Sorry for the many questions...

[Boris]

1) Depends on where you want to live and what " luxuries " are important to you. I.E Pool, Gym, Security Compound, Penthouse etc etc
2) 2 yrs with ability to terminate after 12 months with one months notice ( 13 months total )
3) Two months rent as security + one month in advance is the norm.
4) You can use cash.

Washer/ Dryer - It depends.

[leghk]

Originally Posted by Boris

1)
2) 2 yrs with ability to terminate after 12 months with one months notice ( 13 months total )
.

Depends on your contract. Mine definately says I (or the landlord) can give notice to terminate after 11 months (12 months total)

[desmondng]

All depends on the contract. I can provide the service, including looking for the apartment, negotiating and all other "minor" things you need to do when you live here.

[backpacker]

also commission (50% of your monthly rent) if you are going through an agent.

[paul9]

I live in North Point (on island, 20 minutes from Central by MTR) and paying $13000 per month. My friend lives nearby and paying $8000 per month. When I signed the lease, I had due (1) first month's rent of $13000 (2) security deposit of $26k, (3) and realtor fee equal to 50% of one months' rent. 13k was put down initially as a 'good faith' depsoit, and the rest was due when the lease was signed formally about two weeks later. A usual setup in HK is a two-year lease with option to quit/renew after one year at tenent's choice.

[AngieP]

Thanks for the info... Now off to research affordable (ha ha) family friendly places within 1/2 hour commute of Times Square...