Rental housing may be classified into apartment houses, town houses, officetel units and studios; and their rental
terms may be classified into rental without deposit, advance rent payment, monthly rent lease and deposit only lease.
Rental without deposit
Lease with monthly rent paid before the month starts, while a nominal deposit (advance deposit of one month's rent)
is made at the time of lease.
Advance rent payment
A monthly sum of rent for a given period (one year) is paid in advance.
Monthly rent lease
Most popular lease terms for studios. Monthly rent is paid when the month elapses, while a nominal amount of deposit is paid at the time of lease.
Deposit only lease
Residential unit (house or apartment) is leased based on a large deposit amount that the
lessee lends to the lessor and on which no interest is payable. Instead, the lessee does not pay any rent.
Types of rental housing(ordinary foreigners)
People Rental Housing
Publically funded rental houses leased by the Korea Housing Corporation or the Seoul Housing
Corporation (municipal corporation) for 30 years or longer. These houses are constructed with
central or local government funding or the National Housing Fund (including funds raised by
lottery programs) in order to provide low-cost housing to eligible citizens.
Deposit only lease
Seoul City Government leases existing vacant houses under a deposit only lease contract from their owners and re-leases them to low-income families so that they may continue to reside within the same community.
