Short/Long Term Leases
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Join Date: Jan 2005
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Short/Long Term Leases
Hi all,
I am about to come up to HK with CX (SO) and have a quick question....
I understand you get the full housing allowance when you sign a lease, if you have not signed anything you get a smaller allowance in lieu. My plan is to get a furnished apartment on a month by month lease until I figure out the best place for my family to live. Whilst I am in a furnished short term arrangement, if I sign a lease (for the month), do CX fund that (ie upto $22K-ish) or is the full rental allowance only available on a long term (1-2 year) lease.
I guess what I am asking is whilst I am in short term accomodation should I be planning for $14K a month or the full rent allowance?
Hope this makes sense and someone reading knows the answer.
Cheers!
I am about to come up to HK with CX (SO) and have a quick question....
I understand you get the full housing allowance when you sign a lease, if you have not signed anything you get a smaller allowance in lieu. My plan is to get a furnished apartment on a month by month lease until I figure out the best place for my family to live. Whilst I am in a furnished short term arrangement, if I sign a lease (for the month), do CX fund that (ie upto $22K-ish) or is the full rental allowance only available on a long term (1-2 year) lease.
I guess what I am asking is whilst I am in short term accomodation should I be planning for $14K a month or the full rent allowance?
Hope this makes sense and someone reading knows the answer.
Cheers!
Join Date: Feb 2005
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Sorry old boy. No idea what a newbie SO gets in housing....Id guess 22-25k/per month.
If you opt for the cash its only 14k, I think. (until youve done 2yrs)
Leasing? Youre v.v.v.v. unlikley to sign a short term lease! The 'standard' lease is 2yrs but you can leave after 12mths by giving 2mths notice. ie: the shortest period is 14mths.
You can opt to "break-lease" at anytime but the penalty clause is 2mths rent!
This doesnt much matter if youre taking the cash or using the rental allowance. A lease is a lease.
Your best moves are:
a. Serviced Apartment. You can rent these monthly....and you can still get the full housing allowance.
b. Look on www.asiaxpat.com.hk for a short term lease and/advertise yourself.
c. Wait til you get to HK (Cathay) and advertise on the board in ops (there maybe someone away on leave/temp basing who will rent you their flat...normally cash only!)
d. Flatshare. Again advertise on Asia Expat and rent a room for 2-3mths.
All that said....a serviced apartment is your best bet (details on the above website). It wont take much time to get a feel for a place for your family (everyone is a guru, you'll get more advice than you want/need).
The easy option is just to stay in the CX Hotel (Headland) while youre under training; search for places on you days off, and when youre happy...sign a lease and check out of the hotel.
CX will pay you hotel bill for 6mths on joining.
The only downside is "living at work" but if youre a yank with a beer gut, talk frustratingly loudly about ice-hockey and football, wear denim shorts and shiny white trainers with socks pulled up....you'll fit right in!!
No shortage of generalisations there
Tick, tock, tick, tock......
If you opt for the cash its only 14k, I think. (until youve done 2yrs)
Leasing? Youre v.v.v.v. unlikley to sign a short term lease! The 'standard' lease is 2yrs but you can leave after 12mths by giving 2mths notice. ie: the shortest period is 14mths.
You can opt to "break-lease" at anytime but the penalty clause is 2mths rent!
This doesnt much matter if youre taking the cash or using the rental allowance. A lease is a lease.
Your best moves are:
a. Serviced Apartment. You can rent these monthly....and you can still get the full housing allowance.
b. Look on www.asiaxpat.com.hk for a short term lease and/advertise yourself.
c. Wait til you get to HK (Cathay) and advertise on the board in ops (there maybe someone away on leave/temp basing who will rent you their flat...normally cash only!)
d. Flatshare. Again advertise on Asia Expat and rent a room for 2-3mths.
All that said....a serviced apartment is your best bet (details on the above website). It wont take much time to get a feel for a place for your family (everyone is a guru, you'll get more advice than you want/need).
The easy option is just to stay in the CX Hotel (Headland) while youre under training; search for places on you days off, and when youre happy...sign a lease and check out of the hotel.
CX will pay you hotel bill for 6mths on joining.
The only downside is "living at work" but if youre a yank with a beer gut, talk frustratingly loudly about ice-hockey and football, wear denim shorts and shiny white trainers with socks pulled up....you'll fit right in!!
No shortage of generalisations there
Tick, tock, tick, tock......
Last edited by petitfromage; 29th Mar 2006 at 02:52.
Join Date: Sep 2004
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There are plenty of furnished apts. being offered up in Tung Chung, on a month to month basis, in the $8-14k range. You can walk from Tung Chung to Cathay in 25 min or take a bus in 5, and the family can stay with you for visits until you find something better. I had a 2 bedroom and it worked well for my family and I until we found something bigger.
Cathay will pay you $14k if you are on a month-month rental, and you can pocket the difference if there is one. Once you sign a lease, Cathay will pay up to $22.8k (varies with the housing market) directly to the landlord (no pocketing the difference).
My suggestion would be to spend a few weeks in the Headland, ask around once you're here (check the bulletin board in the Cx crew area and online), move into a small furnished apt. temporarily in Tung Chung, and start looking for something more permanent once you're done the bulk of your training.
Good luck!
Cathay will pay you $14k if you are on a month-month rental, and you can pocket the difference if there is one. Once you sign a lease, Cathay will pay up to $22.8k (varies with the housing market) directly to the landlord (no pocketing the difference).
My suggestion would be to spend a few weeks in the Headland, ask around once you're here (check the bulletin board in the Cx crew area and online), move into a small furnished apt. temporarily in Tung Chung, and start looking for something more permanent once you're done the bulk of your training.
Good luck!
Join Date: May 2003
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You can do shorter than 2 years although 2 years with a years break clause is common. I'm on a 1 year lease and can jack it in after 6 months so it will all depend on what you landlord is happy with or what you want to pay per month. Obviously you can get a shorter lease if you are prepared to pay a little more per month or if the landlord needs a tenant sooner rather than later. And since Tung Chung is full of investor owned apartments it shouldn't be too difficult.
Join Date: Oct 1999
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I have one availiable for rent, if anyone is wanting a fully furnished western styled appartment in TC, has oven and dishwasher, 3 bedrooms....Will consider shorter term lease. It is ideal for during the initial training as you can have a normal life not just living in the hotel. It is fully furnished so you just need to bring your suitcase. PM me for more details and i can send pics.
Regards
FK
Regards
FK
Join Date: Jul 2004
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I will vouch for FK's place. I stayed there for initial training. The place has everything you need and it's only minutes from CX city. It's ideal and he's very helpful and flexible (so to speak).
-Corny (I'm not being sarcastic this time)
-Corny (I'm not being sarcastic this time)
