Seoul, South Korea – Beginning May 27th, prospective tenants in South Korea will be able to verify critical information about their landlords, including whether they are multi-homeowners or have a history of failing to return security deposits, without requiring the landlord's prior consent. This significant policy shift aims to bolster tenant protection and prevent Jeonse fraud, a prevalent type of rental scam in the country.
The Ministry of Land, Infrastructure and Transport (MOLIT) announced on May 26th that it would expand the "Landlord Information Inquiry System," allowing tenants to access this data before finalizing a Jeonse contract. Previously, such information could only be accessed after a lease agreement was signed and with the landlord's consent, rendering it largely ineffective in preventing pre-contractual fraud. This loophole had drawn strong criticism, prompting the government to revise the system.
Under the expanded system, prospective tenants can now inquire about the number of homes owned by landlords who are enrolled in the Housing and Urban Guarantee Corporation (HUG) Jeonse Deposit Return Guarantee program. They can also ascertain if a landlord is on a list of individuals prohibited from receiving Jeonse guarantees, and check the number of instances over the past three years where a landlord failed to return Jeonse deposits.
To access this information, prospective tenants must obtain a confirmation of intent to contract from a certified real estate agent and then visit a HUG branch office. Starting June 23rd, the "Ansim Jeonse" (Safe Jeonse) mobile application will also facilitate non-face-to-face applications for information 조회. For same-day contract signings, tenants can utilize the Ansim Jeonse app to inquire about landlord details. Alternatively, landlords can directly access and display their information to tenants via the app.
To prevent potential misuse of the system, inquiries are limited to three per person per month. Landlords will also receive an alert message notifying them when a prospective tenant has accessed their information. This measure aims to balance tenant rights with the need to protect landlords' privacy and prevent frivolous inquiries. The implementation of this enhanced system marks a crucial step in safeguarding tenants' interests and fostering greater transparency in South Korea's highly competitive rental market.
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