The Hong Kong Housing Society on Saturday said it hopes to complete checks for well-off tenants by November of next year.

The society introduced the "Well-Off Tenants Policy" in 2018. Last year, it was expanded to cover all households that signed new tenancy agreements.

The society has already said it will start issuing new tenancy terms from September to the 25,000 households still awaiting checks. Housing Society chairman Ling Kar-kan said the new rental agreement says tenants must regularly declare their income and assets. He said those who refuse to sign must move out within four months.

Ling said so far only a few tenants had been classed as being well off.

"If we look at the Well-Off Tenants Policy, it has already been implemented on those signing new tenancy agreements," he told an RTHK radio programme.

"There are about 4,000 households who have signed new terms and nine are well-off tenants. Among the nine, seven are paying 1.5 times the standard rent and the other two are paying twice the standard rent."

He said the society would discuss the new policy with households before September.