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From June, those who sign a monthly rent contract with a monthly rent of 300,000 won or a deposit of more than 60 million won must report the details.
The Ministry of Land, Infrastructure and Transport decided to officially implement the monthly rent reporting system from June 1st. The jeonse and monthly rent reporting system is a system that obligates both the lessor and the lessee to report the contents of the contract within 30 days from the date of signing the contract if the deposit exceeds 60 million won or the monthly
The government has already implemented the monthly rent report system from June 1, 2021. However, during the guidance period, no penalty was imposed even if the violation was violated.
As the guidance period ends, the Ministry of Land, Infrastructure and Transport plans to start a crackdown through local governments from June 1st.
The landlord and the lessee must visit the local community center where the rental house is located or report it through the online real estate transaction management system within 30 days from the date of signing the contract.
If you report moving in to ‘Government 24’, you will be connected to the rental report menu and the report will be processed as registering the rental agreement. Even if one of the lessors or lessees submits a lease agreement with the joint seals (signatures) of both parties, the report was made to be completed. It is also possible to report by proxy through a certified broker.
In addition, if both the landlord and the tenant are foreigners, they must report it.
If you do not report the rent on a monthly basis, you will be fined from 40,000 won up to 1 million won in proportion to the non-report period and the contract amount. If you falsely report the rental agreement, you will have to pay a fine of 1 million won regardless of this.
However, you do not have to report a lease contract for a purpose other than residential, such as business, commercial, officetel, etc.
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