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HardyandTiny
Joined: 03 Jun 2003
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 Posted: Thu Oct 02, 2003 10:30 pm Post subject: Re: Apartment question?????????? |
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| Gord wrote: |
| HardyandTiny wrote: |
Not true at all!
Ask any Korean person.
If you give a landlord junsay for one year and then the year ends and the landlord has not found a new tenant he does not have to give you back the junsay until he finds a new tenant.
Everybody knows this is standard practice in Seoul.
The original owner can spend all of the key money and pass the buck to the next renter. |
My desposit is registered with the government, and should the landlord refuse/be unable to return my deposit to me at the end of the contract, I can petition the government to do something. The two choices being the government can give me my money and the government takes ownership of the apartment, or I can take over ownership of the apartment. |
Is the original poster's apartment registered with the government?
Yes, Gord, I've been down that road. That's law! Prostitution is illegal, right?
But it doesn't work that way. You will be forced to allow all types of people to come into your home and view your apartment a couple of months before your contract expires. Doesn't matter what day, what time, if you're tired, or if you're just not in the mood to see people. The landlord will even ask if it's okay to show people the place while you're not there! AND, if you don't allow this, your registration is worthless in a Korean court.
And even if the landlord shows people around your house and STILL isn't able to rent it. He'll just say you didn't allow him to show the house and the judge will grant the landlord additional time.
Registered? Do you really think that is going to help you? Be careful Gordo. |
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Gord
Joined: 25 Feb 2003
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| Posted: Thu Oct 02, 2003 10:31 pm Post subject: |
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| bugs wrote: |
What nonsense are you talking about? Do you know how much $50,000 U.S. dollars is in Korean won? 57,500,000 won. Do you mean to say that your deposit is 57,500,000 won?  |
If you want a full size apartment, your deposit will range from 50M to 80M won generally, so yes... a deposit of 57,500,000 is not unheard of.
Better start working on the apology. |
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bugs
Joined: 09 Sep 2003
Location: Classroom
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| Posted: Thu Oct 02, 2003 10:37 pm Post subject: |
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It must be something in their kimchi in Korea.  Shoot, if you have that kind of dough, why are you teaching? |
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Gord
Joined: 25 Feb 2003
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| Posted: Thu Oct 02, 2003 10:38 pm Post subject: |
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| Hot, hot Asian girls. |
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bugs
Joined: 09 Sep 2003
Location: Classroom
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| Posted: Thu Oct 02, 2003 10:40 pm Post subject: |
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| With $50,000 in U.S., you can almost buy a house outright in some sleepy town in Midwest. |
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bugs
Joined: 09 Sep 2003
Location: Classroom
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| Posted: Thu Oct 02, 2003 10:41 pm Post subject: |
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| By the way Gord, where are you from originally? |
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HardyandTiny
Joined: 03 Jun 2003
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| Posted: Thu Oct 02, 2003 10:42 pm Post subject: |
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Costs depend on location, size, quality, amenities, etc.
An average 425sqft Samsung apartment in Mapo-dong Seoul is about 180,000,000 won down and typically you have to sign for two years.
At this price you don't have to pay rent, but you do pay untilities, and the landlord pays the building maintenance fee.
Four miles away in Hae-bang Chunut you can get 200sqft for one year, no deposit, 350,000 won a month rent and you pay utilities.
(and if you get lucky investing the 180,000,000 Won you can make about 18,000,000won a year.) |
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BTM
Joined: 20 Jan 2003
Location: Back in the saddle.
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| Posted: Thu Oct 02, 2003 10:43 pm Post subject: |
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| Quote: |
| Shoot, if you have that kind of dough, why are you teaching? |
Teaching makes that dough. Continuing to teach makes more. More money means better house is then possible in the future. Deferred gratification and all that.
I'm still waiting on that apology, by the way. |
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bugs
Joined: 09 Sep 2003
Location: Classroom
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| Posted: Thu Oct 02, 2003 10:46 pm Post subject: |
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| ?Como se dice "sorry" en Corea? |
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BTM
Joined: 20 Jan 2003
Location: Back in the saddle.
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| Posted: Thu Oct 02, 2003 10:50 pm Post subject: |
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| HardyandTiny wrote: |
Costs depend on location, size, quality, amenities, etc.
An average 425sqft Samsung apartment in Mapo-dong Seoul is about 180,000,000 won down and typically you have to sign for two years.
At this price you don't have to pay rent, but you do pay untilities, and the landlord pays the building maintenance fee.
Four miles away in Hae-bang Chunut you can get 200sqft for one year, no deposit, 350,000 won a month rent and you pay utilities.
(and if you get lucky investing the 180,000,000 Won you can make about 18,000,000won a year.) |
Definitely, but sometimes you can just get lucky, and hit on a place that seems undervalued (as my wife and I did here in Songnae last month).
Also, to keep sane in Korea (relatively  ), I must have a decent (you know, by Canadian standards) place to live. I've turned down a fair number of job offers because the accommo just wasn't good enough for my picky butt. But that's just me, perhaps.
These days, I wouldn't buy here as an investment, based on what I've read about the real estate market, but I could be talking nonsense, and would welcome opinions or links about it, if anyone has.
| Quote: |
| (and if you get lucky investing the 180,000,000 Won you can make about 18,000,000won a year.) |
The wife and I have had our nest egg in 8 percent interest bearing term accounts that she found (somehow) for the last couple of years. 100% safe (barring war, I guess) and nicely ticking over in the interest department. Getting lucky investing is great, but generally high return means high risk. No risk and 8% return is 'comfortable to me,' as our Konglishy friends are fond of saying.
| Quote: |
| ?Como se dice "sorry" en Corea? |
Mian hamnida, more or less. No worries, mate, as they say in Oz - but don't take surprising little tidbits about this place, no matter how outrageous, as bollocks, though... you get inured to the weirdness, but it's always there!  |
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bugs
Joined: 09 Sep 2003
Location: Classroom
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| Posted: Fri Oct 03, 2003 2:28 pm Post subject: |
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 Mian hamnida |
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kimcheeking
Guest
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| Posted: Sat Oct 04, 2003 3:23 am Post subject: Re: Apartment question?????????? |
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| HardyandTiny wrote: |
| kimcheeking wrote: |
| you signed a lease, they don't have to give you money back until the lease is up. Same story back home. |
Not true at all!
Ask any Korean person.
If you give a landlord junsay for one year and then the year ends and the landlord has not found a new tenant he does not have to give you back the junsay until he finds a new tenant. |
Actually they do have to give you the money back after one year if you register your lease with the government. And all smart people do the registration thing. I did ask a Korean person, my wife. And since she has a vested interest in our 123,000,000 won deposit I trust that she is telling me the truth.
KK |
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dutchman
Joined: 23 Jan 2003
Location: My backyard
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| Posted: Sat Oct 04, 2003 3:48 am Post subject: |
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| HardyandTiny wrote: |
Costs depend on location, size, quality, amenities, etc.
An average 425sqft Samsung apartment in Mapo-dong Seoul is about 180,000,000 won down and typically you have to sign for two years.
At this price you don't have to pay rent, but you do pay untilities, and the landlord pays the building maintenance fee.
Four miles away in Hae-bang Chunut you can get 200sqft for one year, no deposit, 350,000 won a month rent and you pay utilities.
(and if you get lucky investing the 180,000,000 Won you can make about 18,000,000won a year.) |
175,000,000 won got us a 2 year lease on a 3 year old 33 pyong (around 1000 sq feet?) apartment. But, we are on the northern edge of the city. |
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kimcheeking
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| Posted: Sat Oct 04, 2003 4:06 am Post subject: |
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| my 24 pyoung apt cost 123,000,000 won and I am next to Ewha subway station. our lease is 26 months |
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