Korean Job Discussion Forums

Highwaydude · Joined: 18 Apr 2015

When looking to rent an officetel, have you ever encountered landlords who insist that you not report living at the address (because they don't want to pay taxes for owning a rental property)? Obviously, expats here are supposed to report a change of address to the immigration office. But it seems like this is common for officetel owners. So how do people get around this problem?

Chaucer · Joined: 20 Oct 2009

I have seen this firsthand. The landlord is claiming the place as an official residence for tax purposes. Some people--business who work in a city and who might sleep at the officetel during the week only--might be ok with the arrangement. A foreign resident, unless he or she had the same arrangement, would not want to rent the place.

Highwaydude · Joined: 18 Apr 2015

Thanks. I was told that this tax evasion issue was something that affected basically "all" officetels, so that if I wanted to report my address change, I had better look for different types of accommodation.

This was from the real estate agent, who was obviously not always being upfront.

Do you know if it's actually the case?

Highwaydude · Joined: 18 Apr 2015

I want to abide by the legal requirements, so it's been frustrating recently.

SeoulNate · Joined: 04 Jun 2010 Location: Hyehwa

Have encountered it before, NEVER go down that route. It can spell all kinds of trouble for you, and makes it much harder for you to get your deposit back from them if there is some kind of dispute.

Also, if a landlord is asking you to do that you do not want to live in their property anyway, as it usually means that they are having financial difficultly. When you are at the real-estate agent, ask to see a copy of the ownership papers for the house. If they owe a significant portion to the bank still, stay the *beep* away.

Chaucer · Joined: 20 Oct 2009

This also firsthand: at least some officetels are rented out regularly and you can change your address to the residence. The owner registers as a business owner, files the contract with the gov and pays about one month's rent per year in tax. (You could see why they wouldn't want to go that route, but some people choose the high road...)

PRagic · Joined: 24 Feb 2006

Officitels are probably the biggest rip off in real estate in Seoul. Not only are the rents high compared to your sq/m, but the monthly maintenance fees are almost always sky high.

Just my 2 cents, but can't stand them. Loved it when we had one and rented it out, though, to a Japanes client. Chaching.