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amcnutt
Joined: 22 Mar 2010
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 Posted: Thu Jun 14, 2012 8:59 pm Post subject: Could someone tell me the details about renting an apt? |
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Hi all,
I'm returning to Korea in 1-2 weeks, depending on how fast my visa/passport gets returned to me from the Consulate.
I have arranged to get housing allowance from my new school and I've been looking online at apartment postings. I was hoping someone could fill me in on any necessary documentation/information I may have to provide to the realtor/landlord when I have to sign the lease?
I want to move into an apartment within the first week upon my arrival, so I get my housing situation taken care of. I can stay with a friend for the first few days of settling in, but you can imagine I want to get my own place ASAP.
What must I provide to the landlord or realtor when I want to get a specific apartment? Do they need to see my passport, or work visa, or ARC card? I'm hoping they don't require to see the ARC (that my passport with work visa in it would be sufficient) because you don't get your ARC for a few weeks after arriving....and I don't want to be couchsurfing that long 
Does anyone know any details regarding getting your own place? Obviously I'll have the key money & rent money, but any additional information (re. documentation/identification)??? |
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luckylady
Joined: 30 Jan 2012
Location: u.s. of occupied territories
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| Posted: Fri Jun 15, 2012 12:10 am Post subject: |
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depends.
I've rented with no id whatsoever, not even my pp and while on a tourist visa.
generally speaking, cash on the barrelhead talks very well.  |
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djmarcus
Joined: 12 Jan 2006
Location: Seoul
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| Posted: Fri Jun 15, 2012 3:39 am Post subject: |
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| I'm pretty sure that your ARC card would be sufficient since that ID is related to your passport. But does your school have more details about this? Maybe they have realtors that they work with for teachers. |
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GoldMember
Joined: 24 Oct 2006
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| Posted: Fri Jun 15, 2012 9:27 am Post subject: |
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| Unless the school is also giving you key money then forget it. Usually the "housing allowance" offered is pathetic. Its a crappola deal if there is no key money. Are you prepared to drop 10 grand? |
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Troglodyte
Joined: 06 Dec 2009
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| Posted: Fri Jun 15, 2012 10:40 am Post subject: |
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| How much is the school offering you for housing allowance? |
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luckylady
Joined: 30 Jan 2012
Location: u.s. of occupied territories
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| Posted: Fri Jun 15, 2012 12:08 pm Post subject: |
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| GoldMember wrote: |
| Unless the school is also giving you key money then forget it. Usually the "housing allowance" offered is pathetic. Its a crappola deal if there is no key money. Are you prepared to drop 10 grand? |
both statements are bull..
apts can be had for 1-5 mill key money
housing allowances often range 3-500,000, yes sometimes less, and I've heard of as high as 600,000 -
some schools could care less if you rent on your own - saves them the trouble, especially if they don't already have a place for you or don't want to be bothered.
go for it OP, is very liberating.  |
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NYC_Gal 2.0
Joined: 10 Dec 2010
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| Posted: Fri Jun 15, 2012 3:37 pm Post subject: |
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If you're outside of Seoul, you can negotiate a pretty cheap amount of key money. I'm in Incheon, and my key money was supposed to be between 5 and 10 million won. I got my landlady to reduce it to 2 million, and she only raised our rent by 50,000 won per month (I was expecting rent to go up a lot more, but apparently she liked that we were a married couple, and that my hobbies were cooking and reading [well, yes, they are, but I did ham that up a bit] and loved my answer of "practice baby" when I told her about my dog.)
I believe my husband's ARC number was used for the contract at the realtor, but you may be able to use your passport. |
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amcnutt
Joined: 22 Mar 2010
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| Posted: Fri Jun 15, 2012 8:18 pm Post subject: |
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Not worried about key money. I have 2 million KRW in savings right now for when I return. My school doesn't give key money, but they do provide 500,000 won per month housing allowance.
I found a great apartment online that was asking 5 mill key money but i talked to a realtor and he got it down to 2 mill with slightly higher rent.
My question was mostly about whether they required me to have an ARC or something along those lines for proof of identification/residence in Korea, but I'm pretty sure now that with the cash in my pocket and my passport I think everything will be fine. 
@ NYC_Gal 2.0 ~ Same with me!! Landlord only upped the rent by 50,000 won. I was shocked. I thought it would go up at least an extra 200 bucks. Sweet deal |
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furtakk
Joined: 02 Jun 2009
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| Posted: Fri Jun 15, 2012 10:30 pm Post subject: |
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| luckylady wrote: |
both statements are bull..
apts can be had for 1-5 mill key money
housing allowances often range 3-500,000, yes sometimes less, and I've heard of as high as 600,000 -
some schools could care less if you rent on your own - saves them the trouble, especially if they don't already have a place for you or don't want to be bothered.
go for it OP, is very liberating. |
this this this.
i feel like all the naysayers have actually never rented an apartment on their own. while 5/10 mill may be the standard, it's certainly not the rule. there are a variety of places all over seoul with key money as little as nothing to one month's rent. you may not have a palace, but you should be able to find something just as good (or better) than a work-provided apartment.
as far as documentation goes. an arc should not be necessary. a passport should be sufficient.
it's annoying, but the internet is definitely not reliable for house hunting here unless you're looking at a specific apartment/officetel building. craigslist prices are inflated for servicemen/professional expats with huge housing allowances. korean sites are filled with bait-and-switches, especially for the type of place you're probably looking for. |
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Lazio
Joined: 15 Dec 2010
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| Posted: Sat Jun 16, 2012 12:17 am Post subject: |
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| amcnutt wrote: |
| @ NYC_Gal 2.0 ~ Same with me!! Landlord only upped the rent by 50,000 won. I was shocked. I thought it would go up at least an extra 200 bucks. Sweet deal |
That's pretty much the normal ration between key money and monthly rent these days. A year or two ago however 1 million key money was equal to 10,000 in monthly rent so and additional 50,000/month meant 5 million less key money or vica-versa.
Higher monthly rent is always preffered by landlords but they need some security for damages and some tenants just simply don't pay rent. |
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