Love Mediation Between Tenants and Landlords Struggling Due to COVID-19

Guro-gu Signs 'Good Real Estate Brokerage Office' Business Agreement at Guro-gu Office on April 21... 55 Offices Participate... Requests Rent Reduction on Behalf of Tenants in Difficult Situations... 20% Discount on Brokerage Fees

[Asia Economy Reporter Jongil Park] "Real estate agencies carry love."

Guro-gu (Mayor Lee Seong) 'Good Real Estate Agencies' are mediating love between tenants and landlords who are struggling due to the novel coronavirus infection (COVID-19).

Guro-gu announced on the 2nd that since signing a business agreement with the Korea Association of Realtors Guro Branch (President Kim Jin-guk) on April 21 for the 'Good Real Estate Agencies,' the number of participating agencies has increased significantly, and results continue to emerge.

'Good Real Estate Agencies' refer to real estate agencies that actively request rent reductions from landlords on behalf of tenants in difficult situations and also reduce brokerage fees by 20%. This initiative was promoted by Guro-gu real estate agencies with the proposal to share pain with neighbors and overcome COVID-19 together.

As of June 2, there are 55 participating 'Good Real Estate Agencies.' Thanks to their efforts, within about 40 days after the agreement, they achieved a total reduction of 14.01 million KRW, including 19 cases of rent reductions amounting to 12 million KRW and 11 cases of brokerage fee discounts totaling 2.01 million KRW.

Landlords who accepted the agencies' requests for rent discounts are participating by partially reducing several months' rent or fully waiving one month's rent.

Guro-gu provides participating agencies with certification stickers and quarantine supplies such as hand sanitizers to promote the spread of 'Good Real Estate Agencies.'

They also plan to select and award commendations at the end of the year to 'Good Real Estate Agencies' and 'Good Landlords' who actively participate in the activities.

Agencies wishing to join the 'Good Real Estate Agencies' can submit an application form by visiting the Real Estate Information Division of the district office or sending it by fax. For detailed information, refer to the district office website.

A Guro-gu official said, "We are grateful to the agency owners participating in the 'Good Real Estate Agencies' and the landlords who are reducing rents during these difficult times," and added, "The district office will also do its best to alleviate the economic hardships caused by COVID-19."