Every month, no loan-caution is possible in some of the furnished apartments and/or served apartments. In the directory Korea4Expats.com, you will find some options: information about certain apartments or projects can be found in the Korea4Expats.com directory: www.korea4expats.com/Housing-service.html As visiting the potential accommodation is important before signing the lease, it is strongly advised to find a short-term location when you are moving for the first time to South Korea. Your best options are service apartments and private offers, such as Airbnb, which can be rented under short-term leases. Many expats tend to choose them because they are reliable and their sites are available in languages other than Korean. Communication: Partly because of the obligation to repay the tenant`s deposit, the law requires landowners to sufficiently report that they must find new tenants. The same applies when the lease expires. Tenants are required to cancel no less than 30 days before the rental date if they intend to move, otherwise the lease will automatically be renewed for 3 months and the tenant will have to pay the rent of those 3 months. Not all property owners impose this 30-day listing – 3 months rental rule, but there are some who do. Rent tax deduction: A taxpayer who pays rent can benefit from a tax deduction of 10% of the rent under the National Tax Service Cash Receipt system. The taxpayer must first register with the system, then go to the local tax office with a valid rental contract and demand that the rents be paid on the cashier`s ticket system. Payments are then automatically recorded in the system every month until the end of the leasing period.
NOTE: K4E has learned that only Korean citizens are entitled to this deduction and that foreigners, regardless of their visa status and whether they are residents or not, cannot benefit from this deduction. An identification, for example. B a passport and proof of residence, is usually required for foreigners to sign a rental contract in South Korea. To rent, you usually need proof of employment, proof of legal residence (a visa) and a rental contract. You may also need a guarantor to sign the lease, especially if you can`t prove you have a job. The documents required to set up a rental vary depending on the type of contract you sign. For example, if you can afford a Jeonse contract, you don`t have to justify your job. However, if you sign a Wolse lease type, your landlord will most likely apply for your employment contract. In general, you need your passport, visa and alien registration card.
All details and conditions of a lease agreement must be discussed before the contract is signed.