Yeosu-si Extends Lease Reporting System Guidance Period by One Year

Obligation to Report Within 30 Days Remains for Lease Contracts

On the 26th, Yeosu City in Jeollanam-do announced that the guidance period for the housing lease reporting system will be extended for one more year, from the original deadline of the 31st to May 31, 2024.

According to the city, since the introduction of the housing lease reporting system in June 2021, housing lease contracts with a deposit exceeding 60 million won or monthly rent exceeding 300,000 won must be reported within 30 days from the contract date.

[Photo by Yeosu City]

To ensure the stable establishment of the system and to alleviate the public burden of fines, a two-year guidance period was set until May, and recently, the guidance period was extended for one more year until May 31, 2024.

This extension is a measure considering that the purpose of the reporting system is not to impose fines but to establish transparent transaction practices, and that the number of reports increased during the guidance period.

A city official said, "Even though fines will not be imposed during the extended guidance period, the obligation to report within 30 days from the contract date remains, so we ask for active reporting."

Meanwhile, lease contract reports can be made by visiting the local eup/myeon/dong community service center where the house is located or online (Real Estate Transaction Management System), and a confirmed date is automatically assigned upon reporting.

Yeosu = Asia Economy Honam Reporting Headquarters Reporter Choi Cheol-hoon hss79@asiae.co.kr

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