- Living in Dongjak
- Real Estate Leasing & Contract
Real Estate Leasing & Contract
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 is consistent to 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 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.