Trump is sharp, but needs to lose weight - White House doctor
| 09:30am
Macau Opinion | Bus tariffs
| 09:30am
Macau | 2018 unlikely to see the same record breaking property investments as previous year - JLL Macau Managing Director
| 08:45am
Ex-CIA officer arrested for retaining classified information
| 08:30am
Macau | Project resolution on Sulu Sou's suspension to be debated today
| 07:45am
Macau | Proposed government measures to solve Macau's housing problems ineffective - JLL Macau
| 16 Jan
Macau | Law for the management of MSAR territorial waters approved unanimously – AL
| 16 Jan
Macau | VIP gaming revenues up 26.6 pct y-o-y to MOP150.67 bln in 2017
| 16 Jan
Macau | Law ruling on employment agencies' activity approved - AL
| 16 Jan
Macau | Local property market to remain stable in 2018 - JLL Macau
| 16 Jan

Beware tenancy law changes

Did you know that Macau real estate law has been amended? Specifically, Civil Code Articles 969-1056 relating directly to lease agreements have been revised and whether you rent or lease property in Macau you need to be aware of the changes. After receiving increased pressure to address rising property prices, the Macau Government reviewed seven […]

Did you know that Macau real estate law has been amended? Specifically, Civil Code Articles 969-1056 relating directly to lease agreements have been revised and whether you rent or lease property in Macau you need to be aware of the changes.
After receiving increased pressure to address rising property prices, the Macau Government reviewed seven Articles in the Civil Code, with five eventually passed on August 21, 2017. With the population of Macau continuing to grow, action was required to address landlord and tenant concerns and the newly revised Articles will go into effect on February 21, 2018, affecting commercial, residential, industrial, and agricultural agreements.
In summary, the new Articles require that all rental contracts be notarised as a measure to address the operation of illegal inns and other illicit situations in the property market. The new law also extends the standard period for rental agreements from two to three years, meaning that the landlords of commercial and residential properties cannot solely terminate the rental agreements with their tenants within three years. Along with making it easier for landlords to evict unruly tenants, the new laws also provide for arbitration in rental disputes.
I appreciate that the new laws provide protection to both tenant and landlord, but I find a three-year lease agreement to be problematic. As an international city that recruits many foreign workers, it is desirable for some workers to sign one-year lease agreements. When a foreign worker first arrives in Macau, it is daunting to commit to living in one location for two years, let alone three.
Should someone desire to move to a different part of the city or to a different complex, they are prevented by this long commitment of renting property in Macau. Of course, many leases have break clauses but it may come at the cost of two months rent, which in some cases can be extremely costly. In my experience of living in other cities around the world, renting month to month was possible and easy to find but here in Macau it is almost unheard of and finding a one-year lease is even more difficult.
As stated, I am pleased that the new laws give long term residents more security when renting . . . but for the transient community, three years is too long to commit to one apartment, in my opinion.

OPINION

716 POSTS0 COMMENTS
235 POSTS0 COMMENTS
187 POSTS0 COMMENTS
103 POSTS0 COMMENTS