Korean Job Discussion Forums

[optik404]

My house (not school provided) contract is up at the end of May. I will either be staying or going back home. Haven't decided yet.

But I was wondering what I have to do in the case of whether or not the landlord has enough cash on hand to return my deposit.

If she can't return my deposit, do I have to keep paying rent until she can?

If I do stay, I will be moving to a new place, but I would need the deposit for the new place. If I'm stuck at my old place, am I liable for the rent?

The whole real estate procedure in KR is terrible IMO.

[Lazio]

First of all: you should let your landlord know that you won�t be staying once the contract is up � ASAP.

Most rental contracts are automatically extended for another 1-2 year period if the tenant doesn�t say otherwise at least a month ahead.
It is important because the longer your apartment will be listed at the local agencies the higher the chances are for finding a new tenant. Said tenant�s deposit will be your returned deposit.

You do not need to pay rent once your contract is finished and you let the landlord know about the non-renewal.

Yeah it�s a bit hard to arrange your deposit returned and paid to the new landlord on the same day but as long as your old place has a new tenant moving in, it should be fine. You have to discuss and agree on moving dates with the new tenant and the one who is moving out.

I don�t know how much deposit you have but 5-10 million is not worrisome. Any decent landlord would be able to come up with that money even without the new tenant�s deposit.

[optik404]

Deposit is 45K. I just don't want to be liable for the rent. I plan on telling the landlord this week. Thanks for the info!

[optik404]

Pretty miffed right now so I'm typing this here rather than a new thread. Just looking to vent.

From what the 'expert' at the Global Center told me is that I have two options.

1. Move to a new place or stay at a friends house until the landlord gives me my deposit back - that way I won't be liable for the rent.

2. Continue living here until it gets rented out, but still pay rent.

It basically sounds like I have no choice. Considering I need the deposit for a new place. And based on my exp, my last officetel took 8 months to get rented out, so I don't think sleeping on a friend's couch is a viable option. I wish Korea had some form of renters rights that made sense. It all seems geared to help the owner.

Oh and another option is that if a new person moves in and she still doesn't give me the deposit, I can put it up for auction. Great, thanks Korean Laws.

[darkpoet]

I just went through this. I signed a 1 year lease in October 2010 with a 10 million deposit... Lost my job in November 2012 and wasn't sure where I'd end up, so I didn't say anything to anybody... whoops.

In February 2013, I signed with a school 2 hours away. Not having signed a new apartment contract in October, Korean Law says I can give 3 months notice to get my deposit back. The same Korean woman who told me that called my apartment owner on February 18th to inform her (and she advised me NOT to put it in writing as apparently this is considered a legal threat in Korea and we'd be going to court - verbal notice is fine). I moved out March 1 and of course I am responsible for all bills accumulated by my apartment until either the 3 months is up or the real estate agent sells the apartment, which he did this week (2 weeks before the 3 month deadline). I didn't pay rent, gas, or management fees for February or March, so 1,300,000 won was subtracted from my deposit...

So in summary... If your original contract is expired and you haven't signed a new contract, you can give verbal notice to your landlord. Get a Korean to help you. Also, tell a real estate agent so your apartment is listed for sale. You will be liable for rent and bills for 3 months from that point.

If you have signed a new contract this is not expired... umm, seek help from a Korean. You are probably liable for all rent and bills up to the contract expiry... but you may be able to sell the apartment anyway.

[optik404]

[darkpoet]

Your contract is up in May? I'm not sure about the notice you have to give (it might be specified in your contract) but I'm guessing one month if you're following the end-of-contract date... because as far as I know that's the notice the Landlord would have to give you that you have to sign a new contract if she wants to raise rent or GTFO.

You should talk to a knowledgeable Korean, preferably one with real estate knowhow. I think you should probably register your deposit with the local dong or gu office and that will guarantee you can sue your landlord more easily, too... which hopefully it won't come down to it but apparently if you do, it will freeze her bank accounts until she coughs up your money... Again, hopefully it won't come down to that. But get your ass on it because more time is always better, especially if it turns out you're on the wrong side of the law anyway (which happens in a foreign country quite easily, never mind your feelings).

[sirius black]

Regarding deposits and this is after the fact with regards to the OP possibly is that you should ALWAYS register your contract with the local dong's community center. This is legal protection in the sense that there is a public record of your leasing contract so the landlord can not alter the facts of the lease, etc.

With regards to the return of the deposit and addressing a prior post, I was under the impression, it doesn't matter if the landlord has a new tenant, you are to get back your deposit after the lease is up if you have notified the landlord in adequate time.

[Lucas]

[optik404]