Meaning of "Three Rental Laws"
This refers to three systems established to robustly protect tenants’ rights and reduce disputes in lease agreements (related to the protection of security deposits for residential and commercial tenants, regulations regarding lease renewals, and the legal relationships during the lease term).
"Recently, tenants have been carefully scrutinizing deposit refunds and contract renewal terms based on the Three Lease Laws."
Related slang words
Balcony ExtensionThis construction method involves structurally expanding and integrating the balcony space with the living room or bedroom to create a more spacious living area.Interest-free interim paymentThis benefit allows the developer to cover the interest on the interim payments made under the pre-sale contract, thereby reducing the initial financial burden on the buyer.Change of AddressNotifying the relevant authorities of the move to a new residence; this is a necessary procedure for establishing legal rights, such as the right of opposition, after moving.Homeownership LoanThis is a program that allows individuals to obtain a long-term, fixed-rate mortgage with installment payments, provided by the Korea Housing Finance Corporation.Bejimok LoanThis is a government-backed loan program that provides funds for jeonse deposits at low interest rates to help ensure housing stability for low-income households.Stepping Stone LoanThis is a representative low-interest home purchase loan product offered by the government to help low-income households without homes buy a home.Date of CertificationThis refers to the procedure whereby the competent authority records the date (by stamping or registering the document) on the lease agreement to officially recognize the effective date of the contract, thereby securing priority in the repayment of the security deposit.Cookies/CacheThis is a dedicated currency (payment method) used on platforms when accessing online content such as webtoons and web novels for a fee; users can top up or purchase it as needed to access the content.