A service will start that notifies tenants via text message about whether the landlord has enrolled in the rental deposit insurance and the insured amount when the private rental housing lease contract is reported. This initiative aims to strengthen tenant protection through the mandatory enrollment of landlords in rental deposit insurance.
The Ministry of Land, Infrastructure and Transport will notify tenants via text message about the rental deposit insurance enrollment status, the insured amount, and other information related to the rental deposit insurance in the rental registration system (Rent Home) when local governments accept reports of lease contracts for private rental housing starting from the 14th of this month.
Currently, if the landlord has not enrolled in the rental deposit insurance, that information is sent to the tenant via mobile phone notification message through the rental registration system (Rent Home). If the landlord has enrolled in the rental deposit insurance, the insurance company informs them about the insured amount and insurance period via mail and mobile phone notification messages.
When this service starts, a notification message will be sent if the rental deposit insurance is enrolled while processing the lease contract report in the rental registration system (Rent Home). It is expected to minimize cases where landlords enroll in rental deposit insurance through forgery of contracts.
In addition, if a tenant changes during the insurance period without a change in the deposit amount, improvements will be made so that landlords do not need to enroll in new insurance, thus addressing the issue of tenants finding it difficult to confirm their insurance enrollment status.
To receive information about the insurance enrollment, tenants of private rental housing must accurately fill in their mobile phone number in the tenant phone number section of the standard lease contract and agree to the provision of personal information to third parties.
Kim Gyeong-heung, chief of the Ministry of Land, Infrastructure and Transport's private rental policy division, noted, "With this improvement, the mandatory enrollment of private rental housing landlords in rental deposit insurance will be secured, and concerns about the return of the rental deposit for tenants are expected to be alleviated," and added, "It is important to be especially careful to avoid missing notification messages due to incorrect or missing mobile phone numbers."