'Housing Lease (Jeonwolse) Reporting System' to be Implemented from June

Integrated Operation of Move-in Report + Lease Report + Fixed Date...Free Fixed Date Processing Online or In-Person with Original Contract Only

[Asia Economy Reporter Park Jong-il] From June 1st, the 'Housing Lease (Jeonwolse) Reporting System' will be implemented.

According to the Ministry of Land, Infrastructure and Transport, this system mandates that parties involved in housing lease transactions report the transaction details to the local community service center within 30 days from the contract date.

The background of this introduction is to enable a more comprehensive understanding and utilization of the lease market situation through transparent disclosure of the housing lease market. The target applies to housing in metropolitan areas (Seoul, Incheon, Gyeonggi-do), metropolitan cities, Sejong City, and cities within provinces where the deposit exceeds 60 million KRW or the monthly rent exceeds 300,000 KRW, requiring reporting.

Both new and renewal contracts must be reported. However, renewal contracts with no change in contract amount are excluded from the reporting requirement.

The target housing includes not only apartments and multi-family houses but also quasi-housing such as goshiwon, housing within commercial buildings, shanties, and vinyl greenhouses, which are considered non-housing.

Through reporting the Jeonwolse contract, tenants can also receive a confirmed date, making it more convenient with just one visit from the tenant's perspective.

Also, when submitting the original contract or lease report during the move-in registration, separate lease reporting is not required.

The reporting method is available at the existing integrated civil service counters such as the local community service center of the leased housing jurisdiction, and reporting can also be done online without visiting the community center.

The confirmed date is also processed free of charge.

For online reporting, you can attach a scanned file of the original contract or a photo file taken with a smartphone.

You can search for 'Lease Reporting' on a portal site or access it directly by entering the address.

Reporters can jointly report as transaction parties, either the lessor or lessee can report alone, and a proxy can also submit on their behalf.

In case of failure to report Jeonwolse, fines ranging from a minimum of 40,000 KRW to a maximum of 1,000,000 KRW will be imposed proportionally to the unreported period and contract amount, and false reporting will incur a fine of up to 1,000,000 KRW. However, considering the adaptation period for residents due to the introduction of the new system, a grace period without fines will be operated for one year from the implementation date (June 1, 2021 to May 31, 2022).

Lee Seung-ro, Mayor of Seongbuk-gu, said, “We will thoroughly prepare in advance through various promotions to ensure that residents do not experience inconvenience due to the implementation of the housing lease reporting system.”