LiteLab2022
Welcome to the “To Lease or Not to Lease” section of Sherlock Homes! Are you torn among the options of renting a flat, staying at a residential hall, and staying at a co-living space? If that’s the case, this section is for you!
In this section, we have compared the pros and cons of different accommodation options for you so you can find what’s best suited to you! In particular, you will get answers to the following FAQs:
Meeting classmates: students at residential halls can network with other residents during their stay
Getting access to school facilities easily: compared with staying at a co-living space or renting
Lower costs: hall fees are generally cheaper than the cost of co-renting with other students
Hall residents may network with one another during orientation events, and consolidate their friendship during subsequent networking events
Residential halls tend to be within minutes of walking distance from the university campus, gym, and libraries. It is much more convenient for students to stay at residential halls.
Hall fees are at around $8,000 per semester, which is much lower than $17,700 per month at a co-living space, or a few thousand dollars per month for students who co-rent.
Privacy/personal space: not all halls offer single rooms, and most halls do not have rooms en suite
Hall commitments: sports/cultural event
Practical constraints: Pet policy, shared kitchen
It is common for halls to set a certain targeted score for you to meet, and your term may not be extended if you fail to meet such a score. The score is gained by participating in sports or cultural events which might be time consuming.
If you’re an animal lover, this one might disappoint you. Most residential halls don’t allow pets, so you’ll have to leave your furry friends at home.
Additionally, cooking may be limited to shared kitchens, so you might miss the freedom of preparing meals in your own space.
You can enjoy the convenience of housekeeping and maintenance services, ensuring that your living environment is clean and well-maintained. Plus, with 24-hour security, you can have peace of mind.
Co-living spaces also offer flexibility in terms of rental durations. Unlike renting, where long-term commitments are often required, co-living spaces provide options for short stays. So, whether you need a place for a few weeks or a few months, you can find a suitable arrangement.
One of the perks of living in a co-living space is the access to special deals and discounts in neighboring outlets. You can enjoy exclusive offers and make the most of your surroundings.
Expensive for those in prime location: Studio flat in Sai Ying Pun costs $17,700 per month, whereas halls at HKU only cost $8,000 per semester. Although there are cheaper options such as those in Prince Edward, it also costs $12,800 per month.
No “exclusive possession”: there might be a curfew imposed and also modifications such as new mattresses may not be allowed
Expensive: rent in HK is one of the most expensive by international standards
Long commuting time: compared with staying at residential halls
Inflexible: most leases are at least 1 year long
Possible to keep a pet sometimes, subject to the deed of mutual covenant and tenancy agreement. You should confirm with the landlord and management office.
Generally no curfew or policies against visitors, this is the best option if your friends are visiting you from abroad
For those who co-rent with roommates, conflicts can arise, and it may lead to uncertainties about how to resolve them. Unlike in residential halls or co-living spaces, where there are established procedures, resolving conflicts when renting with others can be more challenging. You are advised to devise a roommate agreement.
When renting from individual landlords, there’s a higher chance of encountering unreasonable demands compared to residential halls or co-living companies. It’s essential to be aware of your rights as a tenant and ensure you’re protected from unreasonable requests or conditions.
Unlike residential halls and co-living spaces, where there’s usually support in dealing with nuisance caused by neighbors, renting your own place can make it harder to seek help. Problems with noisy or disruptive neighbors may require more effort from your end to resolve.
“Nothing in this website is intended to be nor should be construed as legal advice. This is an educational project created by students. Please consult your lawyer for legal advice.”
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