Up to 20 Years Residency Allowed... Recruiting Tenants for 3,000 Jeonse Rental Housing Units

Applications Accepted at Administrative Welfare Centers from July 26 to August 3

Korea Land and Housing Corporation (LH) announced on the 11th that it will recruit tenants for 3,000 jeonse rental housing units for low-income households without homes.

Jeonse rental housing is a type of housing where the eligible tenant finds a residence, LH signs a jeonse contract with the property owner, and then subleases the property to the tenant.

The project areas include the Seoul metropolitan area (Seoul, Incheon, Gyeonggi), metropolitan cities, and cities nationwide with populations over 80,000. As of the announcement date (July 11, 2022), applicants must be members of a homeless household residing in the target city or county and be recipients of government aid, single-parent families under protection, households urgently needing housing support, or persons with disabilities.

The maximum jeonse deposit support amounts are 120 million KRW for the Seoul metropolitan area, 80 million KRW for metropolitan cities, and 60 million KRW for other regions. Tenants are responsible for paying 2% or 5% of the jeonse deposit within the support limit as a rental deposit, and the monthly rent is calculated by applying an annual interest rate of 1-2% to the amount of the jeonse deposit excluding the rental deposit. The initial lease period is two years, and after the lease period expires, it can be renewed up to nine times in two-year increments.

Applications are accepted only through the administrative welfare centers (eup, myeon, dong offices) at the applicant's registered residence from July 26 to August 3. After qualification verification, the selection results for tenants will be announced after November.

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