# Is there a penalty for early termination?
"Yes, there is."
The penalty for early termination is imposed in accordance with the contract terms, usually ranging from 2 to 3 months' rent.
However, depending on the situation and individual efforts, a partial deduction of the penalty may be possible, as follows:
First, if you find a replacement tenant who meets the operating conditions before moving out:
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If you show your room and the new tenant moves in on the day the new contract starts, the penalty will be calculated based on the number of days until the new tenant moves in.
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You must be someone who is between 20 and 34 years old, willing to follow the rules such as cleaning together, and capable of living in harmony and respecting each other.
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The penalty will be refunded as 100,000 KRW plus a deduction of 3 months' discounted rent (e.g. 60,000 KRW if the monthly discount was 20,000 KRW, Full refund of college student discount)
Please check for additional details
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If you attempt to fulfill the first condition but your own room is not contracted and another room is contracted, you will have to pay a referral fee of 100,000 KRW (200,000 KRW for 2 contracts, 300,000 KRW for 3 contracts).
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After moving out, the contract will be terminated and you will no longer have any rights to the house. If you want the penalty deductions mentioned in the first and second conditions, you must continue to pay the monthly rent and utilities and actually reside in the house.
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Sharemate conditions: under 34 years old, same gender, minimum contract period (please inquire), suitable personality for shared living, etc.
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The penalty is calculated based on one month's rent (monthly rent + management fee).
Second, if the sharehouse management finds a new tenant to move into your room before you move out:
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Only one month's rent (monthly rent + management fee/utilities + penalty) will be deducted.
If you and the company are unable to find a replacement tenant:
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The full penalty stated in the contract will be charged (2 months' rent + management fee/utilities + others).
If you move out a few days earlier than the contract period:
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The monthly rent will still be charged for the entire contract period.
(We do not refund any money for leaving a few days earlier due to the reasons of the tenant. However, if agreed upon in advance, we will calculate the refund based on the number of days left.)
# How does renewal work?
Please inform the manager of your intention to renew the contract two months before its expiration.
1.
The minimum renewal contract period is generally 6 months.
(However, it may vary depending on the house or timing, so please inquire for details.)
2.
The rent amount may change upon renewal.
If you do not express any intention to renew, the contract will be automatically extended under the same conditions.
(This is in accordance with the "implied renewal" provision of the Rental Housing Act.)
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** If you wish to move out without giving notice at least 2 months in advance, it will be treated as an early termination and subject to the same penalties.
# Under what circumstances would eviction occur?
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Failure to pay rent:
If the rent is overdue for more than 2 weeks or there is no contact, the contract will be terminated immediately, and the resident's belongings will be entrusted to a storage company.
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Forced eviction due to harm:
If you bring pets, smoke, fail to adhere to the rules of communal living, or cause excessive discomfort or inconvenience to the sharemates through selfish behavior, a warning or forced eviction may be imposed.
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Sexual misconduct, theft, mental illness, severe hygiene issues, etc.:
In cases where the manager deems it as an unreasonable and significant reason for eviction, eviction will be carried out immediately without warning.
