Management fees, rates and government rent for vacant units

1.$100,000 (management fee shall be paid whether the unit is vacant or not).

2. Yes. The management fee is calculated according to the terms of the building deed of mutual covenant. All new buildings must have a public deed of construction, which should be signed by the first buyer and developer. After that, the owners of all other units will be bound by the public contract.

The fact that a building has sold units means that the deed of mutual covenant has come into effect, so all owners, including developers who are owners of unsold units, must pay management fees according to the provisions of the deed of mutual covenant. The DMC of new buildings in China and Hong Kong must be approved by the Lands Department., At present, the Lands Department has no policy to allow the DMC to include clauses that can reduce the management fees of unsold or vacant units.

3. yes. As mentioned above, all owners, including developers who own unsold units, are required to pay management fees according to the provisions of the deed of mutual covenant.

4. $100,000 (management fee shall be paid whether the unit is vacant or not)

5. no. Whether to pay rates and management fees has nothing to do with whether the unit is vacant.

Rates are part of the general revenue of the government and are used to maintain various public services. Owners of all new buildings, whether occupied or not, are required to pay rates on the 90th day (residential)/180 (non-residential) from the date of issue of occupation permit/consent to transfer/consent to lease/certificate of compliance.

Ratable value refers to the estimated annual rent when the property is vacant on the specified valuation base date. It is only an appraisal, as the basis for determining the rateable value, and has nothing to do with whether the unit is rented or not.

* * * The stamp duty paid to the Inland Revenue Department is levied on the rental income in property leasing.

6. If the redevelopment project is located in the south of the boundary street between China, Hong Kong and Kowloon, and belongs to the old leased land that does not need to pay government rent, all owners do not need to pay government rent.

As for all other newly-built buildings, like rates, regardless of whether the building is occupied or not, all owners must pay the government rent on the 90th day (residential)/180th day (non-residential) from the date of issuing the occupation permit/consent to transfer/consent to lease/certificate of completion.

Similarly, the rateable value is only used as a benchmark for determining the government rent payable, and it has nothing to do with whether the unit is rented or not.

7. As mentioned above, vacant units also have to pay management fees, and your idea is not valid.