Pocheon City Urges Caution for Cooperative-Type Private Rental Housing

No Cases of Cooperative Member Recruitment Reports Meeting Legal Requirements Accepted

Pocheon City, Gyeonggi Province (Mayor Baek Young-hyun) announced on the 10th that in relation to cooperative-type private rental housing, the member recruitment reporting procedure under Article 5-3 of the "Special Act on Private Rental Housing" must be strictly confirmed to prevent damage.

Pocheon City Hall exterior. Provided by Pocheon City

Pocheon City emphasized that as of December 10, 2024, there have been no cases where member recruitment reports meeting legal requirements have been accepted.

The cooperative-type private rental housing project may have changes in the construction plans presented during the initial promotional stage during the project approval (building permit) process. Additionally, if the requirements under relevant laws are not met, the project may be delayed or canceled.

Therefore, deciding on investment or contracts based solely on initial promotional materials should be done with great caution. Also, since cooperative members are not simple consumers but participants in the project, they must be aware in advance of risks such as delays, changes, or cancellations that may occur during the project implementation process.

In some cases, damages may occur where the invested funds cannot be refunded, so the refund conditions and project structure should also be carefully reviewed before signing a contract.

A Pocheon City official stated, “The cooperative-type private rental housing project can contribute to housing stability if it meets legal requirements and is operated transparently, but if participation occurs without sufficient review at the initial stage, unexpected damages may occur. We ask that all contracts and investments be carefully reviewed before making decisions.”

Meanwhile, for detailed information, please refer to the news section on the Pocheon City Hall website or contact the Housing and Apartment Permit Team.