Single family, 2,500 newlyweds… Deposit for jeon and monthly rent, support up to 60 million won

An officetel cluster near Gwanghwamun at the end of December last year. [연합뉴스]

The Seoul Metropolitan Government is recruiting 2,500 tenants of a’deposit-supported long-term security housing’ that can be paid off at no interest for up to 10 years after supporting part of the deposit for rent and jeonse. Support for single-person households up to 45 million won and newlyweds up to 60 million won. After finding and selecting the house you want to live in, you can apply for security deposit support to the city of Seoul.

The Seoul Metropolitan Government announced on the 1st that “by the 15th to the 19th, we are recruiting tenants of long-term security housing with deposit support. There are a total of 2,500 people who are eligible to move in, of which 20% or 500 people will be selected as a special supply for newlyweds. Due to concerns about the spread of a novel coronavirus infection (Corona 19), only online registration is possible, and the target audience will be announced on April 30.

Deposit-supported long-term security housing is a public rental housing in which a person who wishes to rent a jeon or monthly rent finds a house in their desired area and receives a security deposit. The contract can be concluded jointly by the tenant with the landlord (rental) and Seoul National Housing and Urban Corporation and renewed every two years. Even if you currently live, you can apply if you meet the conditions.

Criteria for applying for’deposit support type long-term security housing’ by Seoul. [서울시]

The application rate varies depending on the size of the deposit. If the deposit exceeds 100 million won, 30% of the deposit is provided, and if the deposit is less than 100 million won, up to 50% is provided. The limit is 45 million won, and newlyweds can receive support up to 60 million won. The city also pays the brokerage fee that the landlord must pay at the time of the contract.

The housing that is eligible for support is a jeonse housing and a monthly rent with a guarantee (a jeonse in which a portion of the jeonse is paid as monthly rent after depositing a deposit). In addition, the area should be less than 60㎡ for single-person households and 85㎡ or less for two-person households. In the case of a jeonse house, the jeonse must be 290 million won or less (380 million won or less for a two-person household) to receive support.

In the case of monthly rent with a guarantee, the sum of the basic deposit and the deposit for conversion to cheonsei is 290 million won (380 million won for a two-person household). The deposit for conversion to cheonsei can be calculated by multiplying the monthly rent by 12 and dividing the rent to cheonsei ratio (4%).

Based on the income of applicants for long-term security housing with deposit support. [서울시]

There are also income requirements. The applicant must be a member of a homeless household as of the date of the announcement of recruitment, and the average monthly income of the household must be’less than 100% of the average monthly income per urban worker’. For a single-person household, the cost is 29,916,31 won, and for a four-person household, it is 7.94,205 won.

However, for newlyweds, up to 120% of monthly average income is allowed. It is less than 3,5899,57 won for a single person and 85,13,046 won for a four-person household. In addition, owned real estate must be less than 215.5 million won, and automobiles must have a present value of 2797 million won or less.

Once selected as a tenant, the rights analysis can be reviewed afterwards, and the contract can be proceeded until April 29, 2022. For details, refer to the Seoul Housing and Urban Corporation (SH) call center or the Seoul Housing and Urban Corporation website announcement.

Reporter Heo Jeong-won [email protected]