Hello! Interesting! Does the Jeonse system has insurance as well just in case the landlord doesn't give the deposit back? And when you rent in korea is it required to have proof of income? Have a great day guys 🤗
Glad you found it interesting 😁 And yeah the government provides insurance up to a certain level. After that there’s private insurance. And for proof of income, the landlords don’t check because you already give them a fat deposit anyway 😆. But some people get a loan from the bank to get the rental deposit money, and in that case the bank does check the financial history and stuff.
Hello! Interesting! Does the Jeonse system has insurance as well just in case the landlord doesn't give the deposit back? And when you rent in korea is it required to have proof of income? Have a great day guys 🤗
Glad you found it interesting 😁 And yeah the government provides insurance up to a certain level. After that there’s private insurance. And for proof of income, the landlords don’t check because you already give them a fat deposit anyway 😆. But some people get a loan from the bank to get the rental deposit money, and in that case the bank does check the financial history and stuff.