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Tenants can extend the contract for two more years if they wish, and the transition committee has announced that it will review the so-called 'Lease 3 Act' from the beginning, which contains provisions that prohibit the owner from raising the rent more than a certain amount at a time.

The idea is to review a plan to abolish or reduce it altogether, but it is likely to be controversial in the National Assembly as it is a matter that requires changing the law.



Reporter Jo Yoon-ha reported.



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Yoon Seok-yeol, the first president-elect, selected the 'Lease 3 Act' as the first real estate policy to be touched during his candidacy.



[Yoon Seok-yeol/President-elect (last February): I think we need to remove the systems that are obstacles to finding a house, whether it is my house or a rented house.

We will revise the 3rd Lease Act first.]



Under the 3rd Lease Act, if the lessee wishes, the lease contract period can be extended by two more years. The key is to have them report directly.



However, after the law came into force, there was criticism that the side effects such as the disappearance of Jeonse properties and the surge in Jeonse prices were bigger.



[Chunseok Hwang / Realtor: As the rental deposit goes up, it becomes very difficult for the tenant...

.]



In July, two years into the enforcement of the law, the underwriting committee announced that it would review the 3rd lease law from the ground up amid concerns about the increase in jeonse prices, mainly for the items whose contract period has expired.



[Won Il-hee/Senior Spokesperson of the Acquisition Committee: Various opinions are being presented from the repeal of the 3rd lease law to the reduction of the target.

The awareness of the problem that the 3 rental law is confusing the market and the direction that the system needs to be improved is correct...

.]



However, the abolition or reduction of the 3 rental law is possible only after the law is amended by the National Assembly, but the majority party, the Democratic Party, is in the position that there is no plan to amend the law, saying it is in the process of stabilizing the law.



Meanwhile, the transition committee said that it would be basically decided by the current government regarding the promise to freeze electricity rates in April, which President-elect Yoon mentioned during the presidential election.



(Video coverage: Kim Gyun-jong, video editing: Jeong Seong-hoon)