Korea Land and Housing Corporation (LH) announced on the 2nd that it will recruit tenants for jeonse rental housing targeted at newlyweds, newborns, and multichild households until the end of the year.
The jeonse rental housing program is a system where, if the targeted tenant finds a dwelling to live in, LH signs a jeonse contract with the housing owner and subsequently sublets it to the tenant at a lower price.
This announcement is recruiting a total of 9,050 units nationwide. By type, it includes ▲5800 units for newlyweds and newborns Type I ▲1000 units for newlyweds and newborns Type II ▲2250 units for multichild households.
The 'newlywed and newborn jeonse rental I, II' types are for households consisting of a person who is currently without a home and has given birth to a child within the last two years, single-parent families, and (prospective) newlyweds within 7 years of marriage. They are divided into newlywed and newborn jeonse rental I and II types based on income and asset criteria.
The 'newlywed and newborn jeonse rental I' allows applications from those whose average monthly income does not exceed 70% of the previous year's average monthly income for urban workers per household (90% for dual-income households) and must meet the asset criteria of national rental housing. The asset criteria for national rental housing are a total asset valuation of less than 337 million won for all members of the household and a total value of owned vehicles less than 38.03 million won.
The 'newlywed and newborn jeonse rental II' accepts applications from those whose average monthly income does not exceed 130% of the previous year's average monthly income for urban workers per household (200% for dual-income households). The applicants must meet the asset criteria for public rental housing conversion (a total asset valuation of less than 354 million won for all household members).
The 'multichild jeonse rental' is for households raising two or more minor children, including beneficiaries, lower-income groups, and single-parent families, and applications are accepted if their income is less than 70% of the previous year's average monthly income for urban workers per household. The asset criteria must also meet the asset criteria of national rental housing, similar to the newlywed and newborn jeonse rental I type.
Applications can be submitted on an ongoing basis until December 31. After applying, applicants must go through a qualification verification process. Detailed information can be confirmed through the announcement posted on LH Subscription Plus, and phone consultations are also available through the LH jeonse rental call center.