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Jeonse Lease Checklist for Foreign Residents

A jeonse deposit is often the largest sum a person ever hands over. Here is what to check before signing, on the day, when moving in and at the end — including the steps that are different for foreign residents.

2026 rates · last checked October 10, 2026

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Before you sign

On the day you sign

Balance day and moving in

During the lease and at the end

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Three parts of the property register

  • 표제부 (description) — the address and floor area. Check they match the contract, including the building and unit number.
  • 갑구 (ownership) — who owns the home, and whether there is a seizure, a court auction or a trust registration. With a trust registration the trust company holds the real power, so a lease signed with the "owner" may not be protected.
  • 을구 (other rights) — mortgages and jeonse rights. The registered maximum claim on a mortgage is usually 20–30% higher than the actual loan.

An empty 을구 means there is no mortgage. If there is one, either make repaying and cancelling it on balance day a condition of the contract, or make sure the amount is small.

The calculation that avoids an underwater lease

If the home is auctioned, earlier rights such as mortgages are paid first. That is why earlier claims plus your deposit should stay below about 70–80% of the home’s value: auctions usually sell below market price.

Example — a home worth ₩300 million, a mortgage claim of ₩60 million and a deposit of ₩210 million add up to 90% of the value. If the auction fetches 80% of market value (₩240 million), the mortgage is paid first and ₩30 million of your deposit is lost.

The risk is highest where jeonse prices are close to sale prices, and for new villas whose real value is hard to judge because few have been sold.

Your protection depends on dates

Opposability (대항력) — the right to stay and get your deposit back even if the home is sold or auctioned — starts at midnight on the day after you have both moved in and reported your address. Priority repayment (우선변제권) also needs the fixed-date stamp, and puts you ahead of later creditors at auction.

For foreign residents, Korean law treats the residence-address report to immigration (체류지 변경신고) as the move-in report, so the same protection applies. The catch: if the landlord takes out a mortgage on balance day, it takes effect that same day — ahead of your protection, which only starts the next day. That is why the clause banning new mortgages until the day after, and a last look at the register, matter so much.

Deposit insurance

A deposit-return guarantee pays your deposit if the landlord doesn’t. It is offered by the Korea Housing & Urban Guarantee Corporation (HUG), the Korea Housing Finance Corporation (HF) and SGI Seoul Guarantee, and you normally have to apply before half the lease term has passed.

The premium depends on the type of home and the deposit, but is usually around 0.1–0.2% of the deposit a year — cheap protection for a large sum. Homes where the deposit is too high compared with the value, or that are registered for non-residential use, can be refused, so check before you sign.

If the deposit isn’t returned

  • Send a certified letter (내용증명) stating that the lease has ended and asking for the deposit.
  • Apply to the court for a lease registration order (임차권등기명령). Once registered, you keep your protection even after moving out — but move only after you have confirmed the registration.
  • If you have deposit insurance, file a claim with the insurer.
  • If that fails, a payment order or a lawsuit lets you force an auction of the home.

This checklist covers ordinary residential leases. Commercial property, company-owned homes and homes under trust need extra checks. If anything looks wrong before you sign, ask the Korea Legal Aid Corporation or your local government’s jeonse damage support center.

Official sources

Frequently asked questions

Where do I report my address and get the fixed-date stamp?

Foreign residents report a change of address (체류지 변경신고) at a community service center (주민센터), an immigration office or online on HiKorea, within 15 days of moving. At the community service center you can get the fixed-date stamp (확정일자) on the same visit — bring your residence card and the original lease.

Should I avoid any home with a mortgage?

Not necessarily. If the registered claim plus your deposit is well below 70–80% of the home’s value, the risk may be acceptable. But deposit insurance may be harder to get, and if the mortgage is to be repaid on balance day, write that into the contract and confirm the cancellation was filed.

Does the lease renew automatically?

If the landlord says nothing between six and two months before the end, and you say nothing up to two months before, it renews for two years on the same terms. You can then end it at any time with three months’ notice.

Do I still need to check the register if I use an agent?

Yes. Agents must explain the property to you, but if something goes wrong, you are the one who loses money. Check the register yourself, especially just before paying the balance, and get the agent’s liability insurance certificate (공제증서) when you sign.

Can I get a jeonse loan as a foreigner?

It is possible at some banks but harder than for Koreans, and depends on your visa, length of stay and income. Ask several banks early — before you sign — and make the contract conditional on the loan, as in the clause above.