Monthly rent is only one part of moving into your first rental home. You also need to plan for the deposit, rent in advance, agency commission and moving costs.

Separate upfront payments from ongoing expenses before deciding whether a flat fits your budget.

Start with the upfront payments

For a hypothetical monthly rent of HK$15,000:

ItemAssumed arrangementAmountRental depositTwo months’ rentHK$30,000First month’s rentOne monthHK$15,000Agency commissionHalf a month’s rentHK$7,500SubtotalBefore other moving-in costsHK$52,500

These are illustrative assumptions. Confirm deposit and payment terms in the tenancy agreement, and agree the commission with your agent. See the EAA’s tenancy guide.

Allow for the extras

Budget separately for stamp duty, movers, cleaning, utility deposits, broadband setup, furniture and household essentials. Include overlapping rent if your old and new tenancies run at the same time.

An additional hypothetical HK$5,000 for moving and household purchases would bring the example to HK$57,500, before stamp duty and other applicable costs.

Confirm how stamp duty will be shared and paid. Read the IRD’s guidance.

Plan beyond moving day

A deposit may be refundable under the tenancy terms, but you still need the money upfront. If you are moving between rentals, confirm when your previous deposit is expected back.

Your monthly budget should cover rent, utilities, transport and everyday spending. Compare a flat’s location and included appliances alongside its rent.

Pay upfront rental costs and monthly rent through RentSmart

From your rental deposit, advance rent and agency commission to your ongoing monthly rent, you can pay through RentSmart and turn rental expenses into credit card spending that may earn cashback or miles.

Before paying, check applicable service fees and your card's reward requirements, and set aside enough funds to repay your card balance. Explore RentSmart's rental-payment services.