What should foreigners be careful about when signing a monthly rent (wolse) contract?

Foreigners can sign a monthly rent contract just like Korean citizens. The most important step is to check the property registry (등기부등본) before signing to confirm that the landlord is the real owner. After signing, you must report your change of residence (address) within 15 days of moving in.

What to check before signing

• Property registry (등기부등본) — Check the owner and whether there is a mortgage (loan) on the property. You can get it from the Supreme Court Internet Registry Office (대법원 인터넷등기소, iros.go.kr). It is good to check again just before you pay the final balance.
• The other party to the contract — Always sign with the landlord. If it is an agent, check the power of attorney and the seal certificate.
• Contract details — The contract must have the address (it must match the registry), deposit, monthly rent, contract period, the landlord's and tenant's information, and signatures.
• Size of the deposit — It is risky if the landlord has a large loan and the deposit is large.

Steps when signing and after signing

1. The down payment is usually 10% of the deposit. Send the deposit to the landlord's account written in the contract, and keep the receipt.
2. Report your change of residence within 15 days of moving in. You can do this at HiKorea (hikorea.go.kr), the community service center (주민센터), or the immigration office. The report is free. Usually you bring your passport, Alien Registration Card, and lease contract.
3. Get a confirmation date (확정일자) with your card showing the new address and your contract. You can get it at the community service center.
4. In some areas, such as Seoul, you must also report the housing lease contract within 30 days of the contract date if the deposit or monthly rent is over a certain amount. Check the amount and areas at the community service center.

⚠️ Warnings

• You must complete the move-in report (change of residence report) and get the confirmation date. Then your deposit is protected even if the house is sold or goes to auction. Do this as soon as possible after you move in.
• If you sign with the previous tenant and give the deposit to that person, you may not get your deposit back if the landlord does not accept it.
• If you move out before the contract period ends, the landlord may deduct the rent for the remaining period from your deposit.
• There is a cap on the brokerage fee depending on the lease transaction amount. For example, under 50,000,000 KRW, it is 0.5% (limit 200,000 KRW).
• In case you cannot get your deposit back, also look into the jeonse deposit return guarantee from the Korea Housing & Urban Guarantee Corporation (주택도시보증공사, HUG, khug.or.kr). Ask HUG whether you can also join for a monthly rent deposit.

If you have a problem, you can get advice from the Korea Legal Aid Corporation (대한법률구조공단), the Seoul Jeonse-Wolse Comprehensive Support Center (서울시 전월세종합지원센터), or the Dasan Call Center 120. Before you sign, show the contract to someone who knows Korean or to the community service center.