LH, recruiting tenants of 525 young people’s desired rental… 90% of rent and market price

The Korea Land and Housing Corporation (LH) announced on the 18th that it is recruiting tenants of 525 public rental housing for young people and newlyweds.

The housing provided this time is apartment housing such as apartments purchased by Youth Hope Rental Housing REITs established through the Housing City Fund. LH is a REITs asset management company that oversees the business of housing supply, management, and operation.

All supply targets are small houses with an exclusive area of ​​59㎡ or less. By region, ▲ 171 households in the metropolitan area ▲ 127 households in Busan, Ulsan, Gyeongnam ▲ 35 households in Daegu, Gyeongbuk ▲ 129 households in Daejeon, Chungnam, Chungbuk ▲ 38 households in Gwangju, Jeonnam, Jeonbuk ▲ 25 households in Gangwon, etc.

Eligibility for tenancy is to be a member of a homeless household whose monthly average income as of the announcement date is less than 100% of the average monthly income per household by the number of urban workers in the previous year (120% in the case of double-income).

The amount of real estate held must be at least 215.5 million won based on the published price, and 2764 million won for vehicles based on the standard vehicle price determined by the Minister of Health and Welfare (33.16 million won for a new house that is initially occupied).

For new homes, the income standard is up to 120% (140% for double-income), and for existing homes, it is expanded to 120% for single-person households and 110% for two-person households.

The rental period is 2 years, and the rental fee is 90% of the local rental price. Re-contracting is possible up to 4 times if the resident status is maintained.

Application for move-in can be made through the online subscription center or mobile app (LH Subscription Center) from January 25 to 29, and the preliminary announcement in early February after qualification screening, contract and move-in plan in April.

An LH official said, “For the prevention of the spread of Corona 19 and for the convenience of applicants, we will apply online and mail at the same time from application receipt to document submission,” he said. “We plan to support cleaning of each household before moving in.”