The Association of Real Estate Agents of Korea said that it actively supports the proposal to abolish or reduce the 3rd Law on Leases announced by the Presidential Takeover Committee.
The Korea Real Estate Brokers Association said on the 28th, “After the implementation of the 3 rental law system, in the market, the problem of side effects such as the double price problem in which the transaction price between the renewal contract and the new contract is different, the landlord’s jeonse/monthly rent conversion, the lock in the jeonse property, and the conflict between the lessor and the lessee, etc. It continued to happen,” he said.
He continued, “Even though real estate brokers have made great efforts in the field to minimize disputes between landlords and tenants, the conflict could not be resolved due to structural problems in the legal system,” he said. We actively welcome the opinion of the Presidential Transition Committee on the issue,” he said.
From the time when the 3rd lease law was introduced in June 2020, the Korea Realtors Association opposed the bill, fearing that it would be excessive legislation. He also warned that if the bill is pushed forward unreasonably while ignoring market principles, the surge in housing prices at the time will spread to a surge in jeon and monthly rent prices, which will put a burden on tenants.
Reporter Lee Song-ryeol at Hankyung.com yisr0203@hankyung.com
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