A Step-by-Step Guide On How To Rent An Apartment In Korea If You Plan To Stay For Long
Are you one of those that have always wanted to experience living abroad for long? Or perhaps you are thinking of working or even relocating to Korea after this global pandemic ends? Imagine living in the land of K-Pop with your favourite K-drama actor/actress and fried chicken, a dream come true, isn't it?
Well, fret not, we have compiled a step-by-step guide on how you can go about renting an apartment in Korea if you are visiting or relocating there for long.
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Read on to find out more!
#1 Search for your housing at least 2 months before your actual date of moving
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It will take you quite some time to find the perfect apartment of your choice. Hence, it's always good to plan ahead by searching for your housing at least 2 months before the actual date that you plan to move.
#2 Download Zigbang / Dabang apps or speak to an English-speaking real estate agent
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These 2 mobile apps are real-estate apps which helps you to rent homes in Korea and will help to facilitate the process. These apps do not have an English function, so use the apps only if you are fluent in Korean. Otherwise, you can check out these real estate agencies for foreigners if you are only comfortable with speaking English.
#3 Take note of how much Pyeong [평] you are looking for in a house
Photo from @ggumigi via Instagram
Pyeong [평] which is a Korean unit of area and floor space that you have to take note of when you are discussing with your agent.
#4 Types of renting systems
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Korea's apartment renting system works slightly differently from Singapore. It's mainly centered around either the jeonse or wolse system. The jeonse system allows you to stay in your apartment without paying rent. However, you have to pay a huge cash deposit (also known as 'key money') before moving in. This deposit is typically 40 to 90 percent of the market value of the house. However, you will need to be having cash-rich if you want to use the jeonse system. The deposit will be returned to you at the end of the lease term, which is generally two years. However, if you do not have enough cash, you can always use the wolse system which is a cheaper alternative as you are only paying on a monthly basis with a lower deposit.
#5 Types of housing
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It’s important to understand the different kinds of housing, so you can have a better idea of what to look out for. Here are the different types of housing that are available: villas, apartments, short-term rentals, and goshiwon. If you are on a tight budget, you can just consider goshiwon, which is basically a small room that's equipped with minimal furnishings. However, it is highly recommended that you speak to an English-speaking real estate agent that will explain the different types of housing in more detail.
#6 Things that are included in the rental
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Some Korean apartments sometimes come fully furnished, but this is not usually the case. Otherwise, utility service costs for electricity, tap water, and gas should be paid by the tenant one month after moving in. Do take note that there might be a building fee, known as gwanlibi, that must be paid to the landlord in addition to the rent. This fee covers the general maintenance and cleaning of the building.
#7 Sign the housing contract
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The final step will be for you to sign the housing contract directly with the owner in person. The owner's name can be confirmed by checking the certified copy of the register. Remember to take note of the rental period and the amount of deposit money which will be specified in the contract. Prepare your deposit money beforehand too. Also, be sure to negotiate the real estate agent's fee before signing the contract.
Otherwise, if you do not want a real estate agent, you can just look through this Facebook group which allows you to rent an apartment in Seoul.
While you're here, check out some of these ideas to renovate your HDB / BTO flat.
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Text by: GirlStyle SG
