Korean Job Discussion Forums

[phoneboothface]

The difference between apartments at 10m/600k and 5m/500k is huge I think.

Anyways have you gotten your landlord to lower the deposit? How?

Any magic words? ><

I'd rather pay 5m/650k than 10m/600k for example...

[tzechuk]

Yes - been there, done it.

The prices are negotiable - you gotta get your estate agent to work it for you and they will because they want your commission.

Actually, 5m = 50K, so 10/600 = 5/550.

[Bibbitybop]

Yes. Instead of 10 million down and 500,000 a month I paid 2 million down and 700,000 a month.

[Jeweltone]

This worked for me:

1. Take a Korean friend and chat up the landlord. Find out if there are any mutual connections, acquaintances. or friends; this is what Koreans do to network and get favors.

2. Give him your business card. If you don't have one, they are quite easy to get made up...or make them yourself.

3. Keep a good relationship with your landlord after you move in.

RESULTS:

1. I got $150/month knocked off my monthly with 5m down; my landlord and I discovered that his son had just graduated from the uni I was teaching at.

2. I left business cards everywhere I expressed interest in an apartment. The landlords were more than willing to negotiate once they realized I was legitimately employed.

3. I always greeted my landlord and his family when I saw them. Although Mr. Park's English was limited, we managed to communicate (his daughter was pretty fluent). When my washing machine flooded during my first week in the apartment, he was able to help me get a repairman (there was an ahjumma slipper booty stuck in the trap...not mine!) at no charge. As a thank-you, I had my family send out some See's Candies and gave them to his family. When I had to break my lease due to a critical illness that took me back to the USA for treatment, he was very fair in returning my deposit (although it pissed off his wife!).

Finally, remember that you are not just shopping for an apartment, you are shopping for a landlord. Use your people sense to weed out the crooks and psychos.

[JongnoGuru]

This might not be of any use, it might not apply due to various factors, the amounts involved just might not be doable, etc., etc., BUT....

On three separate occasions, with three different landlords--none of whom really wanted to consider or even understood my little scheme at the outset--and three different properties (1 an office, 1 an officetel, and 1 what they call a "다가구" ... not really an apartment/villa, not really a house... sort of a higgledy-piggledy "Haebangcheon Special") I got the landlord to:

-- drop the entire deposit

AND, in two cases,

-- lower the rent a bit....

in return for: full rent up front covering the period of the contract.

Depending on the monthly, the deposit, and the period, your up-front rent payment might well be around (or even less?) than you'd otherwise have to pony up for the deposit alone.

[VanIslander]

It was 5 mill/350 thou a month where I am, downtown Tongyeong two blocks from the turtle ship in the bay.

But my director went with 10 mill/300 thou to save 50 thou a month (even though that's bad for him I think, as the extra 5 mill deposit could've earned more just sitting in the bank than the 50 thou "saved" per month).

One has to look at the opportunity costs of the money put down.

[JongnoGuru]

[crossmr]

[Otherside]

[phoneboothface]

Good responses thanks.

How accurate do you think the prices are that they quote?

I was gonna go in and ask for the budongsan ajossi to show me 10m/900k places with hopes of getting it knocked down to 10m/800k if I find a place I like. Feasible? Any more good posts waiting to be typed out there about negotiations with agents / landlords?

I think they'll budge but in the past they seemed pissed I wanted it cheaper haha.