Seoul City and Ministry of Land to Conduct Joint Inspection on Registered Rental Business Operators' Obligations Violations in Second Half of Year

[Asia Economy Reporter Choi Dong-hyun] Seoul City announced on the 12th that it will conduct a joint inspection of registered rental business operators' obligation violations in the second half of this year as part of its plan to strengthen the management of registered rentals.

This joint inspection will be carried out simultaneously nationwide in cooperation with the Ministry of Land, Infrastructure and Transport and metropolitan and local governments across the country. Seoul City will target rental business operators who have registered rental housing in Seoul.

The inspection items will cover the overall obligations of rental business operators under the "Special Act on Private Rental Housing," focusing on key obligations such as "reporting lease contracts," "preparing standard lease contracts," "rent increase restrictions (within 5%)," "compliance with rental obligation periods," and "subscription to rental deposit guarantees."

Since March until June 30, the city has been operating a "voluntary lease contract reporting period" related to violations of the lease contract reporting and standard lease contract preparation obligations. During this period, if applicants submit voluntary reports and other application documents through the RentHome website or visit the district office where the registered rental housing is located, they can be exempted from fines. After the voluntary reporting period ends, a full-scale inspection of suspected violators will begin in July. The Ministry of Land, Infrastructure and Transport plans to complete requests for explanatory materials, attendance investigations, and administrative actions against suspected violators extracted through system analysis by the end of this year. The inspections will be conducted at the district offices where the registered rental housing is located. If violations by rental business operators are confirmed, the city plans to take strict measures such as imposing fines, canceling rental business registrations, and reclaiming tax benefits in cooperation with the 25 districts according to the nature of the violations.

Additionally, to ease the burden on individual rental business operators regarding subscription to rental deposit guarantees, the Housing and Urban Guarantee Corporation (HUG) has lowered guarantee fees and simplified the guarantee process by omitting credit evaluation procedures. Since April 29, it has also enabled rental deposit guarantees for multi-unit and multi-family housing.

The head of Seoul City's Housing and Architecture Headquarters stated, "We will continue to identify unreasonable issues and work with the Ministry of Land, Infrastructure and Transport to promote measures to strengthen the management of registered rental business operators and protect tenants' rights, including the subscription to rental business insurance."

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