Pocheon City Urges Caution for Investment in Long-Term General Private Rental Housing

Pocheon City, Gyeonggi Province (Mayor Baek Young-hyun) recently urged special caution regarding investments in ‘long-term general private rental housing’ that are spreading within the jurisdiction.

Notice Advising Caution for Investment in 'Long-Term General Private Rental Housing'. Provided by Pocheon City

According to Pocheon City on the 20th, the city confirmed that a housing promotion center (located in Minrak-dong, Uijeongbu) promoting private rental apartments in the area of 716 Gachaeri, Sinbuk-myeon, is recruiting investors. The city informed that this recruitment activity is not a formal tenant recruitment under the ‘Special Act on Private Rental Housing’ but rather an arbitrary group recruiting investors, and called for caution.

A Pocheon City official stated, “The recruitment of tenants for long-term general private rental housing must be conducted publicly after completing the legal reporting procedures,” and warned, “Recruiting investors or tenants in a manner without legal grounds may not receive legal protection in the future.”

He also said, “Currently, there are no cases of such reports being processed within the jurisdiction. Contracts for membership or investment recruitment by arbitrary groups are civil matters, and it is difficult to receive legal protection in case of disputes in the future,” adding, “Before signing contracts, citizens are urged to thoroughly check their rights and obligations and carefully review whether there are any unfavorable clauses, approaching investments with caution.”

Meanwhile, for detailed information related to the recruitment of members for long-term general private rental housing, please check the Pocheon City Hall website or contact the Housing and Apartment Permit Team.