After You Move In
After you have signed your lease agreement there are a couple more final steps you need to take.
- If you are already a resident of Korea, you have to go to the district (gu) office to report your change of address. You are required to do this within two weeks after you have moved.
- Take your signed lease agreement to the local registry office (등기소) to get what is called a 확정일자 (Hwak-jeong-il-ja). This is an official record of the key money you have put down, and establishes your priority for getting your money back should the property go to public auction. This is particularly important if you have deposit 10 million won or more.
- In order to ensure that your rent is always paid on time (even if you are travelling or get busy) you can arrange for auto-pay (automatic transfer from your bank to your property owner's account). To do this, just go to your bank and tell the teller what you want to do. You'll sign a form and indicate when you want to auto-pay to start and when you want it to end. There is no additional fee for this service - in fact the transfer service charge is less than when you make the transfer yourself.
K4E Editor's Note: Korea4Expats.com wants to provide the most accurate and complete information possible so if you noticed any errors or omissions on this page, please let us know at email@example.com
Last Updated on 2010-08-24
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