Apartment Management Fees Exceed 180,000 Won Per Household on Average Monthly

In 2021, 10.6 Million Households Paid 23 Trillion Won

The average monthly apartment management fee exceeded 180,000 KRW last year.

According to the 'Apartment Management Information System (K-apt) Management Fee Disclosure Mandatory Complex Status' announced by the Korea Real Estate Board on the 25th, the total management fees paid last year by 10,604,072 apartments required to disclose management fees amounted to 22.9245 trillion KRW. This means that one household paid 2,161,858 KRW annually, or 180,154 KRW monthly. This is a slight increase compared to the previous year (175,569 KRW).

Among nationwide multi-family housing, apartments with 300 or more households, or those with 150 or more households that have elevators or use central (regional) heating, are subject to management fee disclosure.

The number of apartments subject to management fee disclosure has been increasing every year, from 8.4 million households in 2015 to 8.7 million in 2016, surpassing 10 million in 2020. Accordingly, the scale of management fees has steadily risen from 16 trillion KRW in 2015 to about 24 trillion KRW last year. Trend analysis predicts that the management fee scale will reach approximately 24 trillion KRW annually this year.

Examining last year's management fee details, out of the total 22.9245 trillion KRW, common management fees accounted for 10.7801 trillion KRW (47.0%), individual usage fees were 10.2075 trillion KRW (44.5%), and long-term repair reserves were 1.9369 trillion KRW (8.5%).

Of the 10.7801 trillion KRW in common management fees, general management fees were 4.3437 trillion KRW (40.3%), cleaning fees 1.9578 trillion KRW (18.2%), security fees 3.2991 trillion KRW (30.6%), and other expenses (repair and maintenance, elevator maintenance, etc.) were 1.1795 trillion KRW (10.9%).

Among the 10.2075 trillion KRW in individual usage fees, heating fees were 1.3393 trillion KRW (13.1%), electricity fees 5.3403 trillion KRW (52.3%), water fees 2.2909 trillion KRW (22.5%), hot water fees 763.9 billion KRW (7.5%), and other expenses (building insurance, household waste fees, etc.) were 473.1 billion KRW (4.6%).

More detailed information on apartment management fees can be found through the 'Korea Real Estate Board Real Estate Information App' or the Apartment Management Information System website.

Lee Seok-gyun, Director of Market Management at the Korea Real Estate Board, stated, "The Apartment Management Information System (K-apt) was redesigned this year with a user-centered approach to enhance user convenience, and we plan to further advance the system to increase transparency in the imposition and execution of management fees."