Re:Death of Korea's 'apartment king' leaves 100s in property...
by scaramanga on Saturday January 14, 2023 @10:45PM
(#34386545)
I think first para of this is not quite right.
If there is a monthly payment, it's weolse not jeonse. And the large deposit is bojeunggeum (key money). The larger it is, the lower the rent, typically on a standard scale (eg. every $10k more is $100/month less iirc).
But you won't get zero rent without switching over to jeonse. You're talking about upwards of quarter million dollars to start with that.
I've never signed a jeonse contract so not sure if the terms are very different to a 2 year weolse contract or whether the numeric parameters are just different :)
If there is a monthly payment, it's weolse not jeonse. And the large deposit is bojeunggeum (key money). The larger it is, the lower the rent, typically on a standard scale (eg. every $10k more is $100/month less iirc).
But you won't get zero rent without switching over to jeonse. You're talking about upwards of quarter million dollars to start with that.
I've never signed a jeonse contract so not sure if the terms are very different to a 2 year weolse contract or whether the numeric parameters are just different :)