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Implication of renewal – Residential, Retail lease

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Member 최고관리자 작성일20-02-08 09:32 Hits2,381회

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In the case of rent, you can claim two-year stay even if you have a one-year contract.
If you do not give your landlord your renewal intention at one to six months before end of lease term, it will automatically renew ( Extension )  on the same terms. After two years, the tenant can notify the landlord at any time and the deposit will be returned three months after the termination notice. (Lessor -Landlord, owner shall pay the commission  - Except when the tenant has overdue two months of rent or damages the home.

Retail lease - 1year - Except when the tenant has overdue three months of rent of damages the office/shop/building etc.

In the case of a jeonse - Tenants will be legally protected for two years after the contract is signed under the Housing Lease Protection Act. To terminate the contract after two years, the landlord must give notice of refusal of renewal one to six months before to the tenant. If there is no notice of refusal of renewal, the lease shall be regarded as renewed under the same conditions, which is referred to as an implication of renewal, and even if the renewal is implied, the tenant may notify the termination of the contract at any time, and shall take effect three months after the notice.

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