The Seoul city government said on the 16th it will run "youth-tailored real estate education" for young people and domestic and international students to explain procedures and cautions for monthly and jeonse rental contracts. With deposit nonrefunding damage among young people rising recently, the aim is to provide information that can be checked at each stage of the contract.
Seoul will conduct the education in cooperation with the Seoul Housing and Communities Corporation (SH), focusing on real damage cases and checklist items. The lectures will be given by instructor Son Hui-ae, a real estate YouTuber with 110,000 subscribers.
The curriculum includes, before signing, checklist items such as ▲ checking market prices ▲ whether the brokerage office is unregistered ▲ whether the landlord is in tax arrears, and after signing, ▲ checking the registry ▲ confirming move-in report and fixed date ▲ confirming the previous tenant's move-out. For contracts, the use of the Real Estate Electronic Contract System and the standard lease contract is recommended.
It will also provide practical training to prevent jeonse fraud, such as checking whether deposit insurance is in place before move-in and verifying mortgages and provisional seizures on the certified copy of the real estate register.
Meanwhile, in Oct., the Seoul city government plans to hold the "Seoul International Student Welcome Day" event for domestic and international students living in Seoul and, together with global licensed real estate agents, guide them on cautions for monthly and jeonse contracts and tips to prevent fraud. The "Global Licensed Real Estate Agency Office" program has provided customized services for foreigners since 2008, and 267 offices are currently in operation. This education is the first case using that program.
Applications for the education can be made via the banner on the Seoul Real Estate Information Plaza, and inquiries can be directed to the Seoul land management division.