Report Housing Lease Contracts Within 30 Days~~~

When Signing a Housing Contract with a Deposit Exceeding 60 Million Won or Monthly Rent Over 300,000 Won, Reporting Within 30 Days is Required... Enhancing Transaction Convenience and Strengthening Tenant Rights Through Transparent Lease Information Disclosure

[Asia Economy Reporter Jongil Park] Gwanak-gu (Mayor Park Junhee) announced that the 'Housing Lease Reporting System,' which mandates reporting details such as rent and lease period, will be implemented starting June 1.

The Housing Lease Reporting System is a policy introduced to increase transaction convenience and strengthen tenant rights protection by requiring parties involved in lease contracts to report contract details to the local community service center, thereby making lease information public.

The reporting target includes housing lease contracts (new or renewed) with a deposit exceeding 60 million KRW or monthly rent exceeding 300,000 KRW from June 1 onward, and must be jointly reported within 30 days from the contract signing date.

When submitting the original contract, reporting by one party is considered joint reporting, and it can be processed simultaneously with the confirmation date. However, for the confirmation date to take effect, delivery of the housing and resident registration (move-in report) must be completed.

Reports can be made by visiting the community service center in charge of the housing location or through online reporting via the Real Estate Transaction Management System.

The housing lease reporting obligation also applies when contract details are changed or canceled, and failure to report or false reporting will result in a fine of up to 1 million KRW. However, considering the adaptation period for the new system, no fines will be imposed for one year until May 31, 2022.

The district office produced leaflets containing the main contents of the Housing Lease Reporting System to help residents understand the newly implemented system, and these have been distributed to 21 community service centers and the district office civil service room within the area.

Park Junhee, Mayor of Gwanak-gu, stated, “We expect that transparent disclosure of lease information will further increase transaction convenience for residents and help strengthen tenant rights protection through the linkage of lease reporting and confirmation date tasks. We will thoroughly prepare promotional activities and other preliminary measures to ensure smooth implementation of the work without any setbacks.”

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