Yangcheon District Launches Intensive Campaign Urging Lease Registration Within 30 Days

Up to 300,000 Won Fine for Failure to Report

Yangcheon District in Seoul announced on the 21st that it will carry out an intensive two-month publicity campaign from this month through July to reduce disadvantages experienced by residents due to a lack of awareness regarding the mandatory implementation of the Housing Lease Contract Registration System.

Housing Lease Registration System Promotional Notice. Provided by Yangcheon District Office.

The Housing Lease Contract Registration System was introduced in June 2021 to enhance transparency in the lease market and protect the rights of tenants. After a four-year guidance period, as of June 1 last year, fines have been officially imposed for violations of the reporting obligation.

The reporting requirement applies to lease contracts for residential buildings and quasi-residential facilities (such as Gosiwon, dormitories, and housing within commercial buildings) where the security deposit exceeds 60 million won or monthly rent exceeds 300,000 won. Failure to report or delayed reporting can result in a fine of up to 300,000 won, while false reporting may result in a fine of up to 1 million won.

The report must be submitted by either the lessor or the lessee within 30 days of signing the contract. Reporting can be done by visiting the community service center with jurisdiction over the residential property, or online through the Real Estate Transaction Management System (RTMS). If a move-in report is filed with the lease contract attached, the report is completed and a fixed date is automatically assigned.

The district plans to inform residents about the system through newsletters, IPTV, the district website, and social networking services (SNS), and will intensively distribute promotional materials to about 900 certified real estate agencies and 18 community service centers in the area.

In addition, the district is implementing policies to promote housing stability, such as the Safe Jeonse Price Information System, support for Jeonse deposit refund guarantee fees, free brokerage services for low-income households, free legal consultations, and guidance and inspections for certified real estate agents.

Yangcheon District Mayor Lee Gijae stated, "The Housing Lease Contract Registration System is designed to protect the rights and interests of tenants and establish transparent transaction practices," and cautioned, "Please make sure to fulfill the reporting obligation within 30 days after signing the contract to avoid disadvantages such as fines."

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