Jeonse Deposit Guarantee: Who Qualifies and What You Get
Learn how to protect your housing deposit and ensure you get your money back if your landlord cannot pay you when your lease ends.
This scheme provides a way for renters to protect the large sums of money held as deposits during a lease. It ensures you can recover your money even if your landlord is unable to pay you back.
Who it's for
This protection is available to tenants who have a Jeonse or a monthly rent contract.
What you get
If your landlord defaults on their obligation to return your deposit when the contract ends, this guarantee steps in. It provides protection to ensure you receive your housing deposit back.
What it costs you
To access this protection, you must pay a small annual insurance premium.
The catch to know
You cannot wait until there is a problem to seek help. You must apply for this guarantee within a specific window of time after you move into your home.
How to apply
- Review your lease agreement and check your eligibility.
- Gather the necessary documentation regarding your housing contract.
- Submit your application through the official portal or an authorized provider.
- Pay the required insurance premium to activate your coverage.