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- We have learned in detail about precautions and special clauses to prevent fraud during lease contracts.
- You need to carefully check various things such as confirming building records, negotiating defect repairs, confirming lease rates, confirming the landlord's identity and tax delinquency, and reviewing the registered deed.
- When drafting a lease contract, it is advisable to clearly state real estate information, deposit and payment method, tenant information, lease term, termination conditions, etc., and add special clauses regarding lease financing, management fees, restoration, new tenants, sales contracts, etc.
When I first signed a lease for my new apartment, I was very careful to check for any potential scams. I used a search engine to find tips and requirements and asked the landlord beforehand, and the contract went smoothly.
Be sure to check these items to avoid any lease scams!!!!
I also added and amended some detailed contract terms that I learned, so it's true that knowledge is power :)
I recommend reading carefully.
🏬
My house
Lease Contract / Things to Keep in Mind
Things to know beforehand >
1. Check the status of the multi-family villa
There is a website called 'Seumter' where you can check the building registration. You can check if the building is unauthorized or illegal.
I checked again on-site at the time of the contract, and if it is illegal, a red stamp is stamped on the top right of this document.
You can access the building register and the current status after entering personal information including your resident registration number.
There is also a call center, so please refer to it!
- Seumter ☎️ 02-3480-0200
2. Be sure to check for defects when you visit the house.
🎈 Check again even if the fire is out.
🎈 Open closed windows and check the window screens.
🎈 Check behind the bed or furniture to see if there are any condensation hidden, stains or scratches.
🎈 Ask the current tenant a truth game.
🎈 When checking the water pressure, also check the shower and head.
🎈 Check if the doors all lock and close properly.
It was important to discuss it beforehand before stamping the seal so that you can discuss who will pay to repair it, and whether you can claim the money later if you request a receipt for the repair.
I was captivated by the south-facing living room's large windows, and my boyfriend checked the window sashes and screens carefully.
As a result, we found window screens with large holes and dead insects.
I made sure to check with the real estate manager, took pictures, and was able to tell the landlord right away so that we could negotiate.
We decided that we would request a receipt from the landlord for the cost of repairing the old boiler and the window screens with holes, while
we would take care of the repainting or covering the bed-shaped stains in the bedroom ourselves.
There seems to be some kind of rule like this, so listening to the real estate manager's neutral position was helpful in the negotiation.
It would be annoying if the real estate was too biased towards the landlord.
It is said that the landlord usually does not cover the cost of repainting for this part.
3. Check the lease rate by region
Of course, they would have already checked with the real estate, but the world is scary, so I needed to check for myself to see if I was paying an excessive lease rate.
There are websites for checking real transactions, and I referred to them and checked the actual transactions of apartments and villas near my home that were posted in front of nearby real estate offices.
Things to check before signing the lease agreement >
1. Confirm the tenant's name/identity
You need to re-confirm that the person who signs the contract is the same person as the one on the land register and the lease agreement by checking the landlord's ID card.
If there are co-owners on the land register, you can request that they all be present at the signing of the lease agreement.
We had co-owners, and we were reassured after checking both of their IDs and confirming that they were a couple.
When signing the contract, I double-checked the numbers in the front part of the resident registration number, looked at the pictures again, and even checked the front and back marks of the resident registration card like they check for minors in bars. lol
2. Check the landlord's tax delinquency status
Recently, a lease scam by a high-income delinquent taxpayer was a big news story, and the victims were real people like our company.
I think I was extra careful because of that news. However, since we are taking out a lease loan, it was more important to check and prevent defects.
After signing the contract, you can check this information on Hometax without the landlord's consent, but before signing the contract, the landlord's consent is required for the check.
We requested the documents beforehand and checked on the day we signed the contract, confirming that the landlord had no national or local tax delinquencies.
3. Check the latest version of the land register
🎈 You need to carefully check for any rights relationships such as pre-registration or seizure. We were lucky to have no such issues, and confirmed that the documents were the latest version issued this morning.
🎈 You can check whether you are a priority payment recipient in this document. You need to confirm how much the priority deposit is and whether we are eligible. Luckily, we were the priority payment recipients because we were moving into the landlord's unit and the deposit for the previous tenant was about to expire.
🎈 60% or less: I found this part difficult to understand. The total amount of the mortgage listed in the land register + the lease deposit should be 60% or less of the house price. We passed this check as well.
🎈 Purpose Confirmation: This document needs to state that the property is for residential use in order to receive a lease loan. You need to double-check that it's not for commercial use such as neighborhood commercial facilities. It's especially important to check this for detached houses (multi-family houses) like mine that are on the first and second floor.
Things to check in the lease agreement >
1. Real estate (real estate agency information)
Of course, it should have the real estate name, information, and a seal.
2. Lease price, payment time and method
The deposit, contract payment, and final payment amounts were included, and the landlord stamped the document for receiving payment upon contract signing.
3. Landlord/tenant information
We included the resident registration number, seal, and signature. We should have brought our own seal, but we just signed instead.
It also stated that even if this contract becomes invalid, the brokerage fee will still be paid.
4. Lease period (duration)
The date the previous tenant moved out and the date of handover were written in the contract.
5. Termination conditions, penalty
The contract stated that if we (the tenant) made any unauthorized structural changes or used the property for purposes other than the leased purpose, the landlord could immediately terminate the contract. Understandable!
There was also a clause about the contract termination conditions in case of non-compliance with the contract terms, stating that we had to notify the landlord in writing.
Things that are good to add to the lease agreement special clauses >
It's up to each person, but it's better to have detailed information, including the defect repairs you discussed beforehand.
1. Lease loan
We included a clause about the landlord's cooperation. If you are receiving a lease loan as a joint tenant, the landlord might not like it, so you might need to include this clause in that case.
2. Basic management fee
Be sure to clarify and state what the management fee is for. We also indicated that the management fee is paid in advance on the 1st of every month.
3. Restoration
The contract included a clause stating that except for natural wear and tear, damage due to negligence would be repaired (we prohibited wall-mounted TVs, nail installations, and indoor smoking).
4. New tenant
There was a clause requesting active cooperation in allowing prospective tenants to view the house before the contract expires. The current tenant is said to have been good at providing the schedule.. haha
5. Sale contract
This clause states that the landlord must notify us in advance if they enter into a sale contract.
🎈 Other
- We also received the following documents as printed material.
(Land registration certificate, land register, land use plan confirmation, building register, cadastral map)
- We referred to the Naver brokerage fee calculator!
After signing the lease agreement >
1. Register your address and receive a confirmation date
- For exercising the right of resistance (claiming the lease terms to a third party)
- Offline: Visit the ward office -> Apply for address registration -> Obtain a resident registration certificate -> Request confirmation date
- Online: Government 24 app -> Register address within 14 days
2. Check for changes in rights after signing the contract
- Confirm land register
I hope you all avoid any lease scams!
Thank you for reading.
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