Real Estate Rental and Contract

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Checklist for Real Estate Leasing

  • Select a region.
    • Consider the distance to your work/school.
    • If it is your first stay in Korea, we recommend an apartment complex or studio where many foreigners live.
  • Check if your potential residence allows pets.
  • Check if you can easily buy groceries and other necessary items.
  • Check the parking garage and its capacity.
  • For families with children, check public transportation routes to school, and safety and traffic conditions.
  • Check the voltage. – 110V & 220V / TV: NTSC 60hz
  • Check the antenna of the satellite communications. (French, Russian, Italian broadcasting, etc.)
  • Foreigners need assistance to find a good place to live. Find a real estate agent who speaks your language.

Documents Required before Contract

  • Tenant: Alien Registration Card (required for an individual transaction)
  • Landlord: A copy of Resident Registration Card and Registered Seal (stamp)
  • Real estate agency: Property Register (land/house), Land Register, Land Usage Plan, Rental Contract, Property Description, and a copy of Guarantee

Checklist for Rental Contract

  • Check the resident (corporate) registration number to ensure it matches the number written on the contract.
  • Check the agreement once again before paying the rent (balance).
  • For extension: Contact your landlord or real estate agency one or two months before your contract ends.
  • House/Apartment management
    • Major repairs (heating, air conditioning, waterworks, gas, electricity, and pipes) should be paid by the landlord.
    • Minor repairs should be paid by the tenant.
  • Monthly maintenance and security costs (CAPS/S1 or other security agencies)
  • Resolution for conflicts – If a resolution for conflicts is provided, it will save time and costs in the event of an unnecessary conflict between the tenant and landlord.

Checklist after signing contract and before moving in

  • Check the overall condition of the house before moving in.
  • Examine the regulations of utility bills and the agreement once again.
  • Check the telephone, Internet, TV, security equipment, and fire protection equipment.
Additional things to check for
  • Make sure that the landlord has no debts before signing a rental contract.
    According to law, the real estate agency must explain the details, location, and contract of the residence accurately to the tenant.
    Examine all documents before signing a rental contract.
  • After signing a rental contract, visit a nearby Immigration Office with your passport and report your new address.
    Before that, it is better to register the date of a rental contract at a nearby Registry Office.
  • If a rental contract is signed under the name of a company or a group or under collateral security or leasehold interest, the tenant can claim his/her right at the Tax Office/Registry Office in the event of a conflict with the landlord.
    However, the tenant should bear expenses incurred due to collateral security or leasehold interest.