Signing my first wolse lease — what should I check to protect my deposit?
I'm renting a wolse (monthly rent) place in Korea for the first time and I'm worried because the deposit is quite large. I don't know how to check things like the property register or verify the landlord before signing. Why are the fixed date (확정일자) and move-in report important for protecting my deposit, and what should I make sure is in the contract?
1 Answer
Renting your first wolse can feel risky, but a few checks keep your deposit safe. Before signing, pull the property register (등기부등본) from the internet registry (iros.go.kr) for about 700 won; confirm the owner's name matches the person you're contracting with, and that any mortgage on the property isn't larger than your deposit, because heavy debt means you could lose your deposit if the place goes to auction. Sign only with the registered owner, and if it's an agent, verify their power of attorney and seal. Right after moving in, file your move-in report (전입신고) at the community center the same day and get a fixed date (확정일자) stamped on your contract. Together these give you legal standing and priority repayment rights, so even if the property is auctioned you get your deposit back ahead of other creditors. If the deposit is large, consider deposit-return insurance through HUG or SGI. In the contract, spell out the deposit, monthly rent, what management fees cover, who handles repairs, and any special terms.