Question 1

How is office rent in Yau Ma Tei typically calculated — net floor area or gross floor area?

Accepted Answer

Office rents in Yau Ma Tei are generally quoted on a Gross Floor Area (GFA) basis, with efficiency ratios typically ranging from 70–80% (Grade A buildings commonly achieve 75% or above). The headline rate is expressed as $/sq.ft/month on GFA. When viewing premises, always confirm the net (usable) area to ensure a like-for-like comparison. Our team will provide the efficiency ratio for each unit during viewings to help you compare accurately.

Question 2

Besides rent, what other hidden costs should I budget for in a lease?

Accepted Answer

There are four main items to account for: (1) Management fee — typically HK$5–12/sq.ft/month (higher for Grade A buildings); (2) Government rent and rates — usually shared between landlord and tenant depending on lease terms; (3) Government rates at approximately 5% of rateable value; (4) Air-conditioning, cleaning and security charges if levied collectively. We recommend estimating your total occupancy cost (rent + management fee + rates) to avoid underestimating your budget.

Question 3

Do landlords typically offer a fit-out period or rent-free period?

Accepted Answer

Yes, rent-free periods are standard practice. Typical terms are: 1–2 months rent-free on a 2–3 year lease; 2–3 months on a longer lease of 5 years or more. Fit-out costs generally range from HK$200–500/sq.ft, and can reach HK$800/sq.ft for Grade A premises. Our team will negotiate the rent-free period and a fitting-out allowance on your behalf.

Question 4

What is the minimum lease term in Yau Ma Tei? Are short-term options available?

Accepted Answer

Conventional buildings typically require a minimum of 2 years (some landlords accept 1 year at a rent premium of 5–10%). If you require a shorter or more flexible arrangement, coworking spaces and serviced offices offer month-to-month tenancies, with private offices available from approximately HK$8,500/month.

Question 5

How much is the security deposit, and what are the early-termination provisions?

Accepted Answer

Security deposits are typically equivalent to 2–3 months' rent. Early-termination clauses generally fall into two categories: (1) Break clause — usually allowing termination with 3 months' notice after the first 2 years of a lease; (2) Forfeiture — partial or full deduction of the deposit. Our team will review all lease terms before signing and flag any unreasonable penalty provisions.

Question 6

How long does the process of finding an office in Yau Ma Tei typically take?

Accepted Answer

The typical timeline is 1–3 weeks: (1) Day 1 — submit your requirements via WhatsApp and receive 5 matched options within 30 minutes; (2) Days 1–3 — viewings arranged (typically 3–5 units per session); (3) Within 1 week of selecting a preferred unit — negotiate lease terms; (4) Sign the tenancy agreement, pay the deposit and move in within 1–2 weeks. Urgent cases can be expedited to as few as 5 working days.

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