Yongin City to Impose Fines for Violations of Housing Lease Registration System from June

[Suwon Ilbo=Park No-hoon] Starting next month, the 'Housing Lease Registration System' will be fully implemented, and fines will be imposed for violations.

Yongin City announced on the 10th that the grace period for fines under the Housing Lease Registration System, which was introduced in June of last year, will end on the 31st of this month, and all lease contracts executed after June 1 of last year must complete registration by this month.

The Housing Lease Registration System was introduced to enhance transparency in transactions and protect the rights of lessees by requiring parties to a lease contract to report contract details and disclose them to the public.

The registration targets are new, modified, or terminated residential lease contracts where the deposit exceeds 60 million won or the monthly lease payment exceeds 300,000 won.

Registration can be completed within 30 days from the contract execution date by visiting the administrative welfare center of the relevant eup, myeon, or dong with the original contract, or by registering online through the Real Estate Transaction Management System.

Once registered, confirmation of the date can be processed at the same time.

Renewal contracts without changes in amount are excluded from the registration requirement. Failure to register within the deadline or making false reports will result in a fine of up to 1 million won.

In particular, while fines have been waived from June 1 of last year through the 31st of this month, the obligation to register remains, so registration must be completed by the end of this month without fail.

However, if rental business operators have complied with standard lease contract registration under the 'Special Act on Public Housing' and the 'Special Act on Private Rental Housing,' separate registration is not required.

In this case, however, since a confirmation of date is not issued, lessees must separately obtain a confirmation of date.

Previously registered lease contracts can be verified on the Real Estate Transaction Management System (https://rtms.molit.go.kr). For more details, contact the relevant eup, myeon, or dong administrative welfare center, the district office civil complaint and cadastral department, or the dedicated housing lease contract registration call center (1533-2949).

A city official stated, "Most parties with housing lease contracts executed after June 1 of last year are subject to registration requirements," and added, "Although fines have not been imposed so far, starting next month fines will be charged, so landlords and tenants who have not yet registered are urged to do so promptly to avoid any disadvantages."