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Key Money

 
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Darkness



Joined: 12 Oct 2006

PostPosted: Wed Jan 09, 2008 5:01 pm    Post subject: Key Money Reply with quote

What are the chances of NOT getting your key money back at the end of renting for a year??
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rhinocharge64



Joined: 20 Sep 2006

PostPosted: Wed Jan 09, 2008 6:13 pm    Post subject: Reply with quote

Well, that all depends on your research. If you are thinking about key money then you need to get the landlord checked out. You get access to their financial accounts which will be done via a middle man. I wouldn't personally do it, but I know many who have, and they did not suffer any repercussions. They may have had to wait a while until a new tenant was found, but they got their Won back.

Good luck
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Darkness



Joined: 12 Oct 2006

PostPosted: Wed Jan 09, 2008 6:15 pm    Post subject: Reply with quote

Oh you have to wait for a new tenant before you get your money back??
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rhinocharge64



Joined: 20 Sep 2006

PostPosted: Wed Jan 09, 2008 9:17 pm    Post subject: Reply with quote

Regarding a friend that was the case. It involved 40 million so he was a bit twitchy, but the landlord was on the money. I think it literally is case by case.
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IncognitoHFX



Joined: 06 May 2007
Location: Yeongtong, Suwon

PostPosted: Wed Jan 09, 2008 9:25 pm    Post subject: Reply with quote

I'd say put key money in a large, corporately owned apartment building as opposed to a villa with a land lord controlling less than ten units. A friend of mine lost 10 million because he opted for the latter.
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Hanson



Joined: 20 Oct 2004

PostPosted: Wed Jan 09, 2008 9:30 pm    Post subject: Re: Key Money Reply with quote

Darkness wrote:
What are the chances of NOT getting your key money back at the end of renting for a year??


Depends on how much of a hurry you are in when you leave...
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