Korean Job Discussion Forums

[pjmancktelow]

ok so i have just paid up my key money in full. i will explain what i mean by that. i moved in in september and paid 3 million. then the next 2 months i paid 1 million per month on rent day to bring the key money to the 5 million total. i didnt have the money back in september hence the reason why i paid over 3 installments. i have a contract to that effect saying i would pay the money on certain dates and i did so. basically i want to get some kind of reciept for the key money so that in probably a years time i have something to show if things hit the fan. i dont think it will or has there been any problems. but better to be safe than sorry.

so is there some official way of recording the key money that guarentees i will get it back? what would others do in this situation. like i said there is currently no issues. and i enjoy a good relationship with my landlord, he speaks perfect english and works on yongsan base and has an american passport apparently. but i just feel better to be safe than sorry.

cheers

[Trinidad]

I'm not sure I understand. Presumably you received receipts for the
subsequent installments after you gave your landlord the down payment.
Those, and the contract is your first, legal documentation.

If you want to have more insurance, you can register your contract
with city hall and get a "Huak jong il ja". This is a document stating
that if your landlord goes bankrupt, key money holders on this list will
be first to receive money.

However, if your landlord has lost or stolen all the money, then everyone
gets nothing.

But, as far as key money goes, 5 million is nothing. So I wouldn't worry.

[pjmancktelow]

kinda. i paid the first big instalment to the bu dong san. they gave me a reciept. then my landlord gave me for the next 2. so thats the issue. i want one from the landlord as i guess its him holding the keymoney. i'll go see him later, like i say, he's cool so im not worried.