Gwangju-si, Gyeonggi-do, GH Recruiting Prospective Tenants for Existing Housing 'Jeonse Lease and Purchase Lease'

Published 15 Feb.2021 11:27(KST)

File photo [Asia Economy DB]

[Asia Economy Reporter La Young-cheol] Gwangju City in Gyeonggi Province is recruiting prospective tenants for existing housing jeonse rental (general, elderly, newlywed couple types) and purchase rental managed by Gyeonggi Housing and Urban Corporation (GH).

According to Gwangju City on the 15th, the GH existing housing jeonse rental project is a system where Gyeonggi Housing and Urban Corporation signs a jeonse contract with the homeowner and then re-rents the property to the eligible tenants.

Additionally, the purchase rental project involves GH purchasing multi-family houses, renovating them, and then renting them out at affordable rates to eligible tenants.

The number of public rental housing units available for recruitment this time by type is ▲90 units for general jeonse rental ▲20 units for elderly ▲200 units for newlywed couples across Gyeonggi Province ▲8 units for purchase rental (with a 5 times waiting list, up to 40 units).

For general and elderly jeonse rentals, up to 110 million KRW and for newlywed couple type up to 135 million KRW are supported from the Housing and Urban Fund as jeonse funds, while purchase rental will support multi-family rental houses under 85㎡ located in the Gwangju area.

Eligibility for applying for general jeonse rental and purchase rental requires a non-homeowning household meeting the asset criteria for permanent rental housing. Priority 1 includes livelihood and medical benefit recipients and single-parent families; priority 2 includes those with a monthly average income below 50%. Elderly jeonse rental applicants must be benefit recipients aged 65 or older or belong to the near-poverty class.

Newlywed couple jeonse rental applicants must be non-homeowning households with a monthly average income below 70%, and newlywed couples within 7 years of marriage registration (prospective newlyweds).