Reporting on all leases and monthly rent contracts signed since last year June.
Since June 1st of last year, the "Housing Lease Reporting System" has been in place. Any amount greater than a deposit of 60 million KRW or monthly rent of 300,000 KRW must be reported. Fines have not been imposed due to the early phases of implementation, but this exemption will expire on May 31st, so be sure to report any contracts that are eligible for filing. Reports can be submitted in person at the local community center or online using the Real Estate Transaction Management System.
Below we will write what this is, how to report it, and some frequently asked questions.
In this year's lease reporting system, residential real estate lease contracts signed from June 1, 21 are subject to reporting (Appendix No. 17483, Articles 1, and 2 of the Transaction Reporting Act), and the status of the contract party's personal information, contract period, rent, type and area, and contract renewal right. So basically, if you signed any new contracts after 1st June 2021, you should talk with the landlord and report this together or personally just you. You have 30 days after signing the new contract to report it, otherwise, fines will be imposed.
How to report it?
The easiest way: is to go personally at the community center near your home (주민센터), the one your address belongs to. When you go there, just show then a picture, or tell then you need this 주택임대차 계약신고.The lady will do it for you with no problem. Then you will receive a message on Kakaotalk, or your phone, with the details and the confirmation number. That's it! It takes 10 minutes and they will do it for you.
!!!Don't forget! You need to bring with you the house contract, passport and ID Card.
Confirmation message (that you will receive in Korean on your phone or Kakaotalk):
[Information on normal processing of housing lease report]
A person who has signed a housing lease contract shall report the details of the contract to the competent community center within 30 days from the date of the contract.
Accordingly, we would like to inform you that the application number 000000, Seoul, has been received and processed normally.
Thank you for participating in the rental report.
The online part requires the landlord signature, which makes it a little bit difficult and it is all in Korean.
You can follow the below pictures or follow the online tutorial:
Enter on the website and select your city and district (시, 구)
Press register (신고하기)
Then log in (with your certificate 공인인증서)
Press register report (신고서 등록)
Complete the details
Upload the contract lease and the report certificate
Press confirm (확인)
Report certificate download ↓
HWP
Where can you report it?
You can report a lease by visiting or reporting it on the Internet. It can be reported on the Internet through the real estate transaction management system (http://rtms.molit.go.kr), and the method of reporting is the same as joint, single, or agent reporting, but when reporting on the Internet, it is reported by filling out the details.
Who should be reporting it?
The lease reporting obligation exists for both the lessor and the lessee of the contracting party. However, if you submit and report the original lease contract, you do not need to prepare a separate joint report (Article 6-2 (1) of the Act, Article 2-2 (5) of the Rules), so it is recommended that one of the parties submit the original lease contract.
The lease reporting obligation exists for both the lessor and the lessee of the contracting party. However, a deposit certificate that can prove that one of the parties submits a lease contract or concludes a contract? If you submit a copy of the bankbook, you can report it. In addition, anyone delegated, such as a licensed real estate agent, can report on behalf of the authorized person when entrusting a report by attaching a letter of attorney (attached with a copy of the authorized person's ID).
What if you don't have a contract?
If the region and amount meet the criteria for reporting a lease, it is subject to reporting a lease even if the lease contract is not written. However, if one of the parties to the contract submits a lease contract, it is recommended to write a contract for the convenience of reporting and the protection of the rights of the parties.
Do dormitories fall under this category?
Contracts for the use of dormitories corresponding to school facilities under subparagraph 1 (b) of Article 2 of the School Facilities Business Promotion Act shall not be deemed subject to lease reporting.
Only Koreans should report it?
Even if the lessor/rental is a foreigner, the obligation to report the lease must be fulfilled. It shall be reported by identification (passport, alien registration number, residence report number, etc.) verified at the time of a lease contract, and the obligation to report a lease does not distinguish Koreans from foreigners (Article 2-3-2 of the Act).
The lease declaration does not distinguish between domestic and foreigners. Both domestic and foreigners are obligated to report leases (Article 2 Subparagraph 3-2 of the Act)
What contracts should be reported?
Existing housing lease contracts are not subject to lease reporting if there is no implied renewal or rent change after June 2021 year. (Article 4-3 (2) of the Decree) However, if there is a change in rent and the changed rent exceeds KRW 60 million or KRW 300,000.
Remember: You can still report even last year's contracts ONLY until 31st May 2021, after that, you have 30 only days to report it, and fines between 40,000 - 1 million KRW.can be imposed.
If you have any inquiries contact the website above!
Hello. If I rent an airbnb for several month (over 300 000 won/month), do I have to report ?