From tomorrow (31st), if a monthly rent contract is signed across the country, the monthly rent report system, which reports to local governments, etc., will be implemented within one month.
It covers the entire metropolitan area, metropolitan cities, Sejong-si and provincial city areas, and covers any urban area.
However, small transactions that do not exceed KRW 60 million as a deposit and KRW 300,000 in monthly rent are not subject to reporting, and short-term contracts with less than one month do not need to be reported.
We have compiled the main questions in a question-and-answer format.
Q. Is a contract with a down payment of 70 million won and a monthly rent of 200,000 won subject to report?
A. Yes. This is because the monthly rent is less than the standard amount, but the down payment is more than 60 million won.
In the case of reverse tax, which has both a deposit and monthly rent, you must report whether the deposit is over 60 million won or the monthly rent is over 300,000 won, even if only one of the two applies.
Q. How about a contract with a down payment of 59 million won and a monthly rent of 290,000 won? If you convert the monthly rent into a down payment, the down payment exceeds 60 million won?
A. Not subject to reporting. Converting monthly rent into down payment can be very confusing, so whether the down payment is over 60 million won or the monthly rent is over 300,000 won, we decided to report it if either of the two.
Q. I signed a short-term 20-day contract with a house in Jeju to live on Jeju Island for a month, is this subject to report?
A. Very short term contracts of less than 30 days are not reportable if it is clearly established that the tenant is temporarily renting the home while still in the original home.
Q. If it is the same house but the lease is divided into less than 30 days, is it not subject to report?
A. In the case of a contract for less than 30 days in the same rental housing, if the total number of days of residence is more than 30 days, it is subject to report
Q. Is a fixed date automatically assigned when I report a rental?
A. Yes.
If you file a rental report online, you do not need to visit the community center to get a confirmed date.
However, you must report the transaction subject to report in order to receive the benefit of automatically granting a fixed date.
Q. If I report a lease, can I automatically report moving in?
A. If you have not moved in at the time of the rental report, you must file a separate move-in report.
Q. Do I need to report when renewing my contract?
A. When there is a change such as an increase in the contract amount, it is subject to reporting obligations and there is no need to report implicit renewal.