New Tenants' Rights Guaranteed

  • Arirang News

    July 31, 2020 08:40

    Tenants now have a one-time right to extend their lease by two years before their current contract ends under new laws approved by the National Assembly on Thursday.

    If tenants wish to extend their lease, they have to notify their landlord at least one month before the contract ends. Landlords can only refuse the request if they, their parents or their children intend to move in when the lease is up.

    When renewing the lease, landlords cannot raise the rent by more than five percent.

    The laws apply retroactively. Exceptions will be made for those who have already signed a new lease with another tenant and given the current tenant notice before the new laws go into effect.

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