Gaining Popularity as a Mobile Method for Receiving Confirmation Dates, Free Service Surpasses 15,000 Cases in 6 Months
“Smart House,” certified as an excellent real estate service Prop-Tech platform by the Ministry of Land, Infrastructure and Transport and the Korea Real Estate Board, received the Minister of Land, Infrastructure and Transport Award for providing the Ministry’s lease reporting system conveniently via mobile to tenants and landlords through the Smart House Prop-Tech platform.
Since June last year, Smart House has been the first in Korea to offer tenants mobile fixed-date reporting and landlords free mobile lease reporting services, surpassing a cumulative total of 15,000 cases.
Tenants of apartments, officetels, one-room houses, and detached houses must file fixed-date reports to protect their deposits or obtain loans, and landlords are required to report lease contracts within 30 days of the contract date. Failure to do so results in fines of up to 1 million KRW, making lease reporting mandatory.
However, until now, tenants had to visit distant community centers in person despite busy schedules to file fixed-date reports, or landlords had to go through complicated processes on PC-based internet registry or real estate transaction system websites, including complex digital authentication and manually entering over 20 items of lease contract details. This inconvenience often led to giving up on online fixed-date or lease reporting and resorting to visiting community centers.
To resolve these inconveniences, Smart House offers a free service where both landlords and tenants can simply download the Smart House website or app and register a photo file of the lease contract on their smartphones. Within one minute, tenant fixed-date reports and landlord lease reports are immediately registered at community centers nationwide. All personal files, including registered lease contracts, are securely deleted in bulk after issuing the report certificate.
When tenants download the Smart House website or app and register the lease contract file, the report is submitted to the relevant community center on the same day. Within the next day, tenants can check and permanently store the lease report certificate with the assigned fixed-date number on the Smart House My Page, and the fixed-date fee of 600 KRW is waived.
Landlords can also download the Smart House website or app and register a photo file of the lease contract to receive the lease report certificate through community centers nationwide, which can be checked and permanently stored on the Smart House My Page within the next day.
Additionally, landlords with many rental units or busy schedules can apply for the “Smart House Lease Management Solution Service,” which provides vacancy resolution, lease contract drafting agency, free lease reporting, and permanent storage of report certificates by tenant and year on My Page at any time. This service eliminates the risk of losing report certificates and concerns about fines of up to 1 million KRW for failure to report leases.
Meanwhile, Smart House is Korea’s largest lease management Prop-Tech venture company, having received the Grand Prize for the comprehensive real estate service mobile platform hosted by the Ministry of Trade, Industry and Energy and the Ministry of Science and Technology in 2018, and securing 2 billion KRW in Series A investment from venture capitalists (VC) in 2020.
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