I. Rental term, rental price, form of rental payment, form of contract 

According to the law, the rental term, rental price and form of rent payment are agreed upon by the parties.

Regarding lease term: The parties can agree on a specific term such as 1 year, 5 years or 10 years, depending on their needs; or for an indefinite period. For an indefinite term Contract, when the Lessor wants to terminate the contract, the Lessor must notify the Lessee at least 90 days before the termination date.

Regarding rental price: Except for some special cases where the State has regulations on housing rental price, the Lessor and the Lessee are free to agree on the rental price. To avoid possible disputes, the parties should clearly agree in the Contract whether the rental price includes costs such as electricity, water, cleaning, management fees, parking fees… or not.

Regarding the form of rent payment: The parties can agree on a form of periodic rent payment (monthly, quarterly, yearly…) or a one-time payment for the entire rental period.

Regarding the form of the contract: The Contract must be made in writing and include the contents specified in Article 163 of the Housing Law 2023.

II. Termination of housing lease contract

The Contract may be terminated in one of the following cases:

(i) The rental term specified in the Contract has expired. 

(ii) Both parties agree to terminate the Contract.

(iii) Rental housing is no longer available.

(iv) The Lessee dies or goes missing without anyone living with him.

(v) The rental housing is seriously damaged, at risk of collapse, or located in an area where a decision on land recovery, house clearance, or demolition decision has been made by a competent state agency; Rental housing is subject to purchase or requisition by the State for other purposes.

(vi) The Lessor unilaterally terminates the Contract when one of the following cases occurs:  

• The Lessee does not pay the agreed rent for 3 months or more without a legitimate reason. 
• The Lessee does not use the house for the right purpose as agreed in the contract. 
• The Lessee arbitrarily destroys, expands, renovates, or demolishes the rented house. 
• The Lessee converts, lends, or sublets the rented house without the consent of the Lessor. 
• The Lessee disrupts order and environmental hygiene, seriously affecting the lives of surrounding people who have been given housing by the Lessor or the head of a residential group, village head, village, hamlet, hamlet, commune or phum. , the squirrel made a record for the third time but still did not fix it.
• The Lessor renovated the house (with the consent of the Lessee), then proposed to increase the rent but the Lessee did not agree with the new rent. 

(vii) The Lessee unilaterally terminates the Contract when one of the following cases occurs: 

• The Lessor does not repair the house when there is serious damage. 
• The Lessor increases the rental price unreasonably or increases the rental price without notifying the lessee in advance as agreed. 
• Housing use rights are limited due to the interests of third parties.

III. Buy and sell houses for rent

The law allows the Lessor to sell the house during the lease term according to the Contract, but must comply with the following conditions: 

• The Lessor must notify the Lessee in writing of the sale and conditions of the sale of the house. 
• The Lessee has the right of priority to buy if the rental has been fully paid to the Lessor by the time of notification of the sale of the leased house, except in cases where the house is jointly owned.
• Within 30 days from the date the Lessee receives the notice (or another period agreed upon by the parties), if the Lessor does not buy the house, he or she has the right to sell the house to someone else. 
• In case the Lessor sells the house to someone else and the lease term is still valid, the Lessee may continue to rent until the contract expires; The home buyer is responsible for continuing to perform the previously signed housing lease contract, unless the parties have otherwise agreed.

IV. About Us, Hankuk Law Firm

■ Hankuk Law Firm – Introduction

The goal of the legal services provided by HANKUK LAW FIRM is to support businesses, investors, and people. Our organization employs skilled Korean lawyers, partners, and professionals to provide legal services to businesses related to corporations and litigation.

To support the startup process, our lawyers and staff provide a wide range of services, including business law consulting, tax and immigration law consulting, real estate services, business consulting, marketing and communications, human resources, product distribution, franchise options, etc. We provide expert advice on every aspect of your business needs.

To protect the legitimate rights and interests of our clients and achieve the best results, we provide legal advice and participate in civil lawsuits related to business, labor, marriage, family, and inheritance.

■ Contact us now

For reliable and effective legal advice, please contact HANKUK LAW FIRM now. We are committed to providing you with the best possible answers and our team of experienced lawyers has extensive knowledge in many legal fields. We are always here to provide the most competent and dedicated support, whether you are dealing with contractual issues, commercial disputes or need guidance on foreign investment. HANKUK LAW FIRM is honored to have assisted hundreds of domestic and international clients in skillfully resolving complex legal issues as their trusted legal partner. Do not let legal issues hinder your success. Let us accompany you towards legal achievement and comfort. For prompt guidance and support to ensure your rights are always maintained at the highest standards, contact HANKUK LAW FIRM now.

■ Contact Hankuk Law Firm

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