Short-Term Rental Lease Guide: Lease Template and Key Terms

If your home requires renovation or repairs, many people opt for serviced apartments or units offering short-term leases for around two months while waiting for the work to be completed. However, some mistakenly believe that short-term rentals of one or two months do not require a formal lease and that paying rent is sufficient. In reality, to protect the rights of both tenants and landlords, a lease should be signed regardless of the rental duration. This ensures that both parties are safeguarded, and any future disputes can be resolved according to the terms outlined in the lease. Read this article to learn more about the essential terms for short-term leases.

The V Offers High-Quality Short-Term Rental Units

If you’re looking for a short-term rental unit for two to three months, we recommend choosing a serviced apartment from The V. At The V, short-term rentals only require a simple "License Agreement," which clarifies the rental period, the number of furniture and appliances included in the unit, and protects the rights of both parties. Unlike renting a private unit, there’s no need to sign a complicated "Tenancy Agreement," making the process straightforward and hassle-free. The V’s serviced apartments are equipped with premium French Le Creuset cookware and Simmons bedding, allowing you to return to a cozy home after a long day of work. Contact us now to learn more about short-term rentals at The V serviced apartments.

Why Do Short-Term Rentals Require a Lease?

If you choose to rent a private unit for a short term instead of a serviced apartment, remember to sign a formal lease and thoroughly understand its terms and conditions. A lease is an agreement between the tenant and the landlord regarding the rental of a property. During the lease period, both parties must fulfill their rights and obligations as stipulated in the lease. For example, short-term tenants rarely purchase furniture or appliances and instead use those provided by the landlord. The lease should specify which party is responsible for covering repair or replacement costs in case of damage or malfunction. Additionally, the lease should include details such as the rental amount and payment deadlines. Like standard leases, short-term rental agreements are legally binding, ensuring that any disputes can be resolved according to the agreed terms, protecting the rights of both landlords and tenants.

Essential Terms to Include in a Lease

Apart from the personal details of the landlord and tenant, the rental amount, and the lease signing date, a formal lease should include the following terms:

Lease Term

The lease must specify the rental period for the unit. The first day of the lease is referred to as the "commencement date".

Advance Rent and Security Deposit

The lease should state the security deposit and advance rent amount required at signing. The advance rent usually covers the first month’s rent.

Responsibilities of the Landlord and Tenant

Generally, the landlord is responsible for structural repairs and building management fees, while the tenant covers utilities such as water, electricity, gas, and internet. However, serviced apartments usually include these costs in the rent, eliminating the need for additional payments. The lease should also specify which party is responsible for the repair or replacement costs of appliances and furniture provided by the landlord, ensuring clarity in case of maintenance needs.

The above are the essential terms typically included in a short-term lease. However, each rental unit’s conditions may vary, and some landlords may include additional clauses. Therefore, it’s important to pay close attention to the specific terms outlined in each lease before signing.

Frequently Asked Questions About Short-Term Leases

I plan to rent short-term in Hong Kong for a month or more. What is the difference between signing a serviced apartment agreement and a general private residential tenancy?

For tenants needing a short-term rental of two or three months, choosing The V serviced apartments eliminates the tedious procedures of a standard tenancy. Private leases usually involve a fixed term (dead lease) of one to two years, expensive real estate agent commissions, and complicated stamp duty procedures; whereas The V offers flexible monthly rental options, transparent and legally protected agreement terms, and no agency fees, and includes utilities (water and electricity), wireless internet, and housekeeping management services. This allows customers returning home to visit family or those temporarily residing during renovations to avoid the burden of miscellaneous expenses and to enjoy the convenience of a "move-in ready" apartment.

In a short-term tenancy agreement, besides the basic rent, what other hidden costs should I be aware of?

In a general tenancy agreement, tenants usually bear the costs of broadband, utilities (water and electricity), and maintenance themselves. However, at The V, our monthly rent already includes all property management fees, room cleaning, and maintenance of all in-house appliances and facilities. Residing in core areas such as Wan Chai, Causeway Bay, Happy Valley, or West Kowloon, you can not only enjoy the convenience of the city centre but also accurately budget your fixed monthly expenses, without worrying about any unexpected miscellaneous charges. This is ideal for residents or families returning from overseas.

If I need to temporarily extend my lease due to renovation delays or changes in itinerary, can The V's contract be flexibly extended?

We understand that short-term tenants, especially those with homes undergoing renovations or those returning from overseas, often face changes to their plans. Unlike general tenancies, The V is extremely flexible in handling contracts. As long as there’s availability, we prioritise existing residents for lease extensions, helping them to smoothly transition through the renovation period. Our leasing team will provide the most personalised contract support based on your actual living needs, ensuring you have peace of mind.