LH Newlywed Couple Jeonse Rental Housing 10,300 Tenants Rolling Recruitment

Online Early Admission Applications Open from the 23rd
Applicants with Children Under 6 Can Apply Regardless of Marriage Duration

[Asia Economy Reporter Moon Jiwon] Korea Land and Housing Corporation (LH) announced on the 16th that it will begin accepting applications for the occasional recruitment of tenants for 10,300 newlywed couple jeonse rental houses starting from the 23rd.

Newlywed couple jeonse rental houses are homes where newlywed couples selected as tenants search for a desired residence, and LH signs a jeonse contract with the property owner and then subleases the house to the tenants at an affordable price.

According to LH, the eligibility criteria for the newlywed couple jeonse rental houses being recruited this time have been relaxed to allow applicants with children aged 6 or younger, regardless of the length of the marriage.

Eligible applicants must be members of a household without home ownership and meet the following conditions: ▲monthly average income of 70% or less of the previous year's urban worker household income by household size as of the application date (90% if the spouse has income) ▲total assets of 288 million KRW or less and car assets of 24.68 million KRW or less.

Tenants are responsible for the rental deposit and monthly rent. The rental deposit is 5% of the jeonse deposit within the support limit, and the rent is calculated by applying an interest rate of 1-2% to the remaining amount after subtracting the rental deposit from the jeonse deposit. The support limits are 120 million KRW for the metropolitan area, 95 million KRW for metropolitan cities, and 85 million KRW for other regions.

The initial lease period is 2 years, and if separate income and asset criteria are met, the lease can be renewed up to 9 times, allowing stable residence for up to 20 years.

Newlywed couples wishing to apply can do so online at the LH Subscription Center from the 23rd until December 31st. LH will individually notify successful applicants after qualification screening.

The qualification screening takes about 10 weeks, but for basic livelihood security recipients, low-income households, and single-parent families under protection, submitting the relevant certificates may shorten the screening period.

If the number of applicants exceeds the supply target, applications may close early.

An LH official explained, "Expanding the beneficiaries of jeonse rental housing in line with the government's childbirth promotion policy is expected to greatly help stabilize housing for families with children."

This content was produced with the assistance of AI translation services.