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! |
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...... |
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! |
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.
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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 |
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) |
flyingkiwi:
Can you PM me with pics and details, such as rent etc.....?;) RGDS viking |
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