Goyang-si Passes 'Good Landlord Development Support Ordinance'... To Be Promulgated Next Month

Goyang City Hall

[Asia Economy Reporter La Young-cheol] Goyang City in Gyeonggi Province will promulgate the 'Ordinance on the Promotion and Support of Good Landlords' next month.

The city announced on the 19th, "The 'Ordinance on the Promotion and Support of Good Landlords,' which was legislatively announced last November, passed the 251st extraordinary session of the Goyang City Council held on the 13th."

The 'Ordinance on the Promotion and Support of Good Landlords' is one of the support policies prepared by Goyang City to help small business owners struggling due to COVID-19.

It contains provisions to promote and support good landlords in the local commercial district so that tenants of commercial spaces facing economic difficulties due to the prolonged COVID-19 pandemic can conduct stable business activities, aiming to revitalize the local economy through win-win cooperation between landlords and tenants.

The support targets for good landlords are landlords who have reduced rent by 20% or more of the average rent of the previous year or previous quarter for more than three months, or landlords who have reduced or frozen rent for a period of three years or more and have signed a win-win agreement with tenants.

The city plans to officially designate applicants as 'Good Landlords' by issuing certificates and plaques, and provide support such as parking fee reductions and partial subsidies for commercial building reinforcement construction costs.

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