Yangsan-si to Implement Housing Lease Reporting System Starting June

Notice on the Housing Lease Reporting System.

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] Yangsan City, Gyeongnam Province announced on the 11th that it will implement the housing lease reporting system starting June 1.

The reporting target is housing under the Housing Lease Protection Act where the lease deposit exceeds 60 million KRW or the monthly rent exceeds 300,000 KRW. The reporting deadline is within 30 days from the date the lease contract is signed.

If the reporting deadline is exceeded, a fine of up to 1 million KRW will be imposed. However, considering the adaptation period for citizens due to the introduction of the new system, a grace period without fines will be operated for one year (from '21.6.1. to '22.5.31.) from the implementation date.

Reporting is in principle done jointly by the lessor and lessee, the contracting parties, by signing or stamping the lease contract report. For convenience, if either the lessor or lessee submits a contract signed or stamped by both parties, it is considered jointly reported.

The fee for the confirmed date when reporting the lease is free, and if the case is not subject to reporting (region, amount, before implementation date), the existing confirmed date can be obtained.

Applications can be made by visiting the administrative welfare center of the jurisdictional eup, myeon, or dong of the leased housing or through the real estate management system.

For more details, contact the Land Information Division at City Hall.

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