Serviced apartments in Hong Kong

Serviced apartments are residential units managed in a hotel-like manner, equipped with central air conditioning. The rental period typically cannot be shorter than a certain duration and is usually operated on a monthly rental basis, distinct from leasing based on yearly terms.

According to the revised guidelines of the Town Planning Board, serviced units should consist of no less than 75% smaller units, with areas ranging from approximately 40 to 70 square metres.Therefore, they are predominantly designed with open-plan or 1-bedroom and 1-living room layouts.

Serviced rooms can be further categorised into fully furnished or partially furnished units. While a few may permit tenants to carry out decorations, there are still restrictions on modifications.

In terms of the check-in process, it is typically more convenient compared to traditional leasing, eliminating commissions or stamp duties. The rental terms are more flexible, allowing for immediate occupancy, whether for short or long-term stays.

Monthly Rental Serviced Apartments

The monthly rental model follows industry-standard charges, with a minimum lease period of one month, renewable thereafter. The monthly fee generally covers utilities such as water, electricity, and gas, as well as amenities like Wi-Fi, regular changing of bed linens, and cleaning services.

Residents also have access to facilities such as restaurants, gardens, fitness centres, swimming pools, and business centres, often at rates lower than hotel prices. Additionally, longer lease durations may entail more favourable terms. A security deposit equivalent to one month’s rent is typically required upon occupancy, refundable upon the expiration of the lease agreement.

Short Term Serviced Apartments

Short-term rentals typically offer leasing plans ranging from 3 months to half a year. The target demographic usually includes local families undergoing home renovations, visitors exploring Hong Kong, business travelers, and tourists on short stays.

Long Term Serviced Apartments

Long-term leases can provide rental plans extending up to 2 years. The target clientele typically favours convenient locations or appreciates the architecture and interior design of the property. In recent years, there’s also been an increase in interest from individuals who frequently work from home, as some residences offer shared workspace facilities, facilitating work-life balance.

Luxury v.s. Budget Serviced Apartments

Price discrepancies in different areas can be significant, even within the same district. Apart from the duration of the lease, factors such as location, brand reputation, unit layout, and living environment also influence pricing.

Location and Transportation

Similar to traditional rentals, prime locations command higher prices, especially those near major business districts, prominent retail areas, exhibition venues, or subway stations. These locations offer convenient access to various amenities.

Brand and Design

Like hotels, serviced accommodations vary in brand reputation. Projects developed by renowned developers often demand higher prices due to elevated design aesthetics. In recent years, there’s been a rise in properties emphasising niche tastes or unique thematic experiences, correlating accommodation fees with their level of luxury.

Unit Types and Views

Large-scale serviced suites offer diverse room types, including standard open-plan or 1-bedroom units, family suites, and interconnected rooms. Larger units like 3-bedroom layouts command higher rents, and scenic views, such as sea views, often come at a premium compared to cityscape views.

Facilities and Services

Higher-priced suites boast more comprehensive facilities and services. Some rooms feature branded bedding and toiletries, while others offer amenities like standalone kitchens, in-room laundry facilities, or concierge services such as meal delivery, airport transfers, childcare, tour consultations, ticket purchases, and guided tours.

Can Serviced Apartments Accommodate Cooking?

Some feature standalone kitchens, while others provide cooking facilities such as stoves, microwaves, and refrigerators, enabling guests to cook within their rooms. This distinction is one of the significant differences between serviced accommodations and hotel rooms.

Are Pets Allowed in Serviced Apartments?

Some may allow tenants to keep pets, but it’s essential to inquire about any additional deposits or fees required.