Gimhae City, Recruitment of Preliminary Tenants for 2021 Purchase Rental Housing

[Asia Economy Yeongnam Reporting Headquarters, Reporter Lee Sang-hyun] Gimhae City, Gyeongnam Province, will accept applications for prospective tenants of purchased rental housing for 2021 starting from February 15.

Purchased rental housing is a system where the Korea Land and Housing Corporation (LH) purchases existing multi-family houses and other dwellings in urban areas to enable low-income groups to live stably within their current living areas, renovates them, and rents them out at about 30% of the market price.

The total number of households to be recruited is 500, targeting non-homeowning household members registered in the city as of the announcement date (January 18, 2021), including livelihood and medical benefit recipients, single-parent families under protection, households urgently needing housing support, disabled persons with a monthly average income below 70% of the household income, and low-income elderly.

Applicants wishing to move in can apply at the administrative welfare centers of their resident registration area (eup, myeon, dong) from the 15th to the 24th of next month.

Additionally, LH will recruit 51 households for multi-child jeonse rental tenants from the 1st to the 17th of next month.

The multi-child jeonse rental targets non-homeowning household members raising two or more children, who are basic livelihood recipients, lower-income classes, or whose household monthly average income is below 70% of the previous year's urban worker household income.

Selected tenants can choose a jeonse house within the jeonse deposit limit of 85 million KRW.

Then, LH signs a jeonse contract with the owner of the selected house and subleases it to the tenant at an affordable rate.

Applications can only be submitted online through the LH website subscription center.

The city’s public housing division chief said, “We will do our best to actively promote not only the purchased rental and jeonse rental housing for which the city receives applications and selects tenants but also those directly managed by LH, including sending guidance letters to eligible applicants, to ensure no policy benefits are missed.”