Seongnam City Sends "Compliance Requirements" Leaflet to Over 8,000 Rental Housing Operators

City to Send Leaflets Sequentially from March
Guidance on Lease Reporting and Guarantee Insurance
Encouraging Compliance with Legal Obligations

Seongnam City in Gyeonggi Province (Mayor Shin Sangjin) announced on the 27th that it plans to produce and send out a leaflet titled "Key Compliance Requirements for Registered Rental Housing Operators" to support local rental housing operators who are experiencing confusion due to frequent revisions of laws and changes in systems.

Private Rental Housing Operator Notice (Front). Provided by Seongnam-si

This leaflet is intended to prevent in advance any disadvantages that may arise if rental housing operators are unaware of their obligations, such as the imposition of fines or the clawback of tax benefits. It will be sent to 8,026 individual and corporate rental housing operators who have registered rental housing in Seongnam City and for whom two years have passed since filing rental business reports. Depending on when that two-year period elapses, the leaflet will be sent sequentially on a monthly basis starting in March.

The leaflet includes key information that rental housing operators must be familiar with, such as: key compliance requirements for registered rental housing operators and the standards for fines in case of violations; matters to note when reporting lease agreements and transferring private rental housing; information on institutions that provide rental deposit guarantee insurance; and other contact points for inquiries.

Under the Special Act on Private Rental Housing, rental housing operators receive tax benefits by registering after acquiring housing, but in return they must fulfill public obligations aimed at stabilizing tenants' housing, including complying with mandatory rental periods and observing limits on rent increases (within 5% per year).

An official from Seongnam City said, "We expect this leaflet to improve rental housing operators' understanding of the relevant laws and help them fulfill their obligations," adding, "We will continue to make efforts to establish a transparent rental housing market order and to create a stable residential environment."

This content was produced with the assistance of AI translation services.