Rental System in Korea.
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Member 최고관리자 작성일20-01-28 17:34 Hits1,263회관련링크
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There are three different types of lease options in Korea
1. Wolse (“월세”)
Monthly Rent (Monthly Payment + Deposit [Key money. Monthly rent is an amount that you pay per month including the deposit and when the contract expires, the deposit will be returned. You should pay monthly rent either as a pre-payment or post-payment but normally we pay up front. (Deposit is returned when you move out.) Monthly Rent does not included utility (Electricity, Gas, Water, etc.), building management fee, and internet and cable bills are not included as well. But it may vary depending on the property. The maintenance fee can cost nearly 100,000 won per month but again, it depends on the property and mostly usage. Wolse (“월세”) is a yearly contract and can be extended at the end of the agreement.
2. Jeonse (“전세”)
A lump-sum of deposit (60 – 70% of the actually sales price) is made but no monthly rental fee is required. The deposit is returned at the end of the contract which is normally 2 years.
3. Ban – Jeonse (“반전세”)
A large deposit with a low monthly rent.
During your stay-
Leases are generally for a minimum of one year(wolse), but most often for two years (jeonse). It is possible to have a clause put in the lease that allows the tenant to terminate the lease after one year with a notice of 60 - 90 days. If the tenant has to leave before the end of the first year of a two-year contract with a one-year termination provision, the property owner may return only one year of the rent if it was prepaid.
1. Wolse (“월세”)
Monthly Rent (Monthly Payment + Deposit [Key money. Monthly rent is an amount that you pay per month including the deposit and when the contract expires, the deposit will be returned. You should pay monthly rent either as a pre-payment or post-payment but normally we pay up front. (Deposit is returned when you move out.) Monthly Rent does not included utility (Electricity, Gas, Water, etc.), building management fee, and internet and cable bills are not included as well. But it may vary depending on the property. The maintenance fee can cost nearly 100,000 won per month but again, it depends on the property and mostly usage. Wolse (“월세”) is a yearly contract and can be extended at the end of the agreement.
2. Jeonse (“전세”)
A lump-sum of deposit (60 – 70% of the actually sales price) is made but no monthly rental fee is required. The deposit is returned at the end of the contract which is normally 2 years.
3. Ban – Jeonse (“반전세”)
A large deposit with a low monthly rent.
During your stay-
Leases are generally for a minimum of one year(wolse), but most often for two years (jeonse). It is possible to have a clause put in the lease that allows the tenant to terminate the lease after one year with a notice of 60 - 90 days. If the tenant has to leave before the end of the first year of a two-year contract with a one-year termination provision, the property owner may return only one year of the rent if it was prepaid.
