Korean Job Discussion Forums

Kenny Kimchee · Joined: 12 May 2003

Hi all,

I have jeonsae on my apartment through my school (they put down the deposit, I pay them the interest on the money). The lease is expiring and the school wants to add a new clause to the new lease, saying that the landlord must immediately refund the money at the end of the lease. The landlord is highly unlikely to accept these terms.

I was thinking about cutting the school out and contracting directly with the landlord myself. I live in Hongdae and it's really hard to find a decent place in this area, plus I've moved four times in three years and I'm tired of it. I have the money (100 million) and plan to be here at least two more years. I don't do any privates so I'm not worried about getting kicked out of the country. I am not married to a Korean and am on an E2 visa.

What are the risks associated with jeonsae? Does anyone have any experience with it? Constructive replies appreciated.

phoneboothface · Joined: 26 Apr 2009 Location: Korea

sulperman · Joined: 14 Oct 2008

You wouldn't happen to be that guy who won the 180 mil or whatever at 7 luck, are you?

Kenny Kimchee · Joined: 12 May 2003

Under the current terms of the lease, the landlord has up to 4 months to return the key money to my school. This gives him time to find another tenant in case he spent all the school's key money on hookers and blow.

Under the terms of the revised contract, the school wants the money returned immediately at the conclusion of the contract. The guy in charge of housing at my school thinks the landlord won't go for this - that's why I'm thinking about contracting directly with the landlord.

P.S. No, I'm not the guy who won the jackpot.

Drew345 · Joined: 24 May 2005

I would choose against putting down 100 mil won chonsae with an E-2 visa. When you give your money to the new landlord, he will give that money to the previous renter, who is moving out. If he can't find a new renter when you move out, you will have to wait and maybe fight to get that money back. You might have to stick around after your last job, with no ARC, trying to get your money back. I know it is not supposed to happen that way, but just the possibility would make me not want to put down 100 mil won (to a landlord who owes that money to someone else).