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Download the file to get more information.Living in Korea downloadas of May 2014

I concluded a monthly rent lease contract that required a three million won deposit and a monthly rental fee of one million won. How much commission should I pay to the real estate agent?

In the case of a monthly rent contract, the commission fee for the real estate agent should be estimated by adding the deposit money to an amount equal to the monthly rental fee, multiplied by 100.

Thus, one million won × 100 + three million won = 103 million won. The commission rate for transaction amounts between 100 million and 300 million won is 0.3%. The limit amount is 300 thousand won. The amount should be paid respectively by both the landlord and the tenant.

I want to terminate my contract five months prior to the end of the lease. Must I pay any compensation to the landlord?

You do not have a legal duty to pay a specific compensation to your landlord. However, following a consultation with the landlord, it is customary that you find a new tenant to move in. You must also pay the real estate agent’s commission for the landlord. Should you fail to find a new tenant, you must continue to pay the rent until the lease ends.

Are storage services available that will care for my belongings if I travel overseas following termination of my employment contract?

Local moving companies provide storage services. The fees vary depending on storage periods, sizes of materials stored, and so on. You can also request a truck service to move your belongings. The cost of storage services are about 60~80 thousand won (2.5 m × 2.5 m) per month. The cost of a truck service will depend on the moving distance.

A drainage problem has occurred and water is overflowing. A repair is required. Do I have the right to ask the landlord for the repair?

When problems occur with basic facilities in a leased house, the duty to repair lies with the landlord. However, if the problem has been caused by the tenant's negligence, then the tenant has to pay for any repairs. Should the landlord fail to repair a problem, the tenant can ask the landlord to reimburse them for the cost of the repair.

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Last Update 2015-09-08 10:02