Questions and Answers
Your Questions About Cheap Apartments Rent No Credit Check
How much does an average house in South Korea cost?
In US currency, please.
US$ 750,000 – US$ 3,500,000
It depends on what method you choose. Here are the methods. Most Koreans llive in aparments, there is really not enough space for houses usually they are only in the countryside.
Jeonsae- This is a form of renting in which you deposit a large sum of money before you move in. In Seoul you are looking at anywhere between 50-200 million won in the cheaper areas. About $50-200,000 USD. This is almost unrealistic for most foreigners without a credit history in Korea. After the term of the lease is up (usually 2 years for the Jeonsae method) the owners of the house or apartment will deposit the full amount you paid beforehand. This is a great way to save money and over 50% of Koreans in Seoul do this. You are responsible to pay for the utilities and the apartments are usually unfurnished. There is also something called a Gwa-li-bi, which you pay depending on the size of the house. Korean apartments and houses are measured in Pyong. 1 pyong = 3.3 square meters You can pay Jeonsae for any kind of apartment or house. Ranging from a one room to a full size.
Wolsea- The next method is of course monthly rent as we are familiar with in the west. The deposit depends on the type and size of the apartment/house/officetel. In most areas of Seoul the deposit is between 1 million and 10 million won. The monthly rent is based on how much you can deposit before the lease is signed. Basically the more you can give the less monthly rent you have to pay. From what I’ve experienced in Seoul if your looking for a cheaper place you could pay 1 million down and around 500,000 won per month. $1,000 USD and $500 USD respectively. (of course if you deposit more you can get the rent payment down alot. If you gave them 5 million won they’d probably drop the rent down to 200 or 250. Of course you will get the deposit back providing that there is no damage to the house of any sort. Korean landlords can be quite stingy, so don’t give them any reason to not give your deposit back.
These are small one room apartments which only require a small deposit around $250 and the rent is about the same. They are for short term leases, usually around 3-6 months. Usually the apartment size is 6-8 pyong. Around 20 square meters.
If you have loads of cash, I’m talking at least $500,000 USD you could buy an apartment. A house would run into around $2,000,000 USD.
There are several types of housing available in Korea
Apartments- The most common among Koreans, however not for foreigners because as I said they are so expensive. Range from 24 pyong up to 96 pyong.
Villas- Most common among foriegners. Usually 2-3 rooms. Somewhat furnished. From 10 pyong to 33 pyong.
Officetels- These are becoming quite popular. Usually attached to some sort of shopping center. They can be used for home and office. There are alot of built in appliances. Usually always in the center of the action. Range from 12-50 pyong. A little more expensive but worth it.
One room- As described in “Ju-tek”
Goshiwon- Super small room. Usually used for studying by high school students.
You can check out many of these houses when you arrive here by visiting your local BU DONG SAN. Which is a rental office. There is one on almost every streetcorner in Seoul.
I noticed the other post did not give the cost of renting a “house” as you requested. If you are interested in a house rather than one of the various forms of apartments, you will pay a minimum of $5,000 US per month for anything close to decent. I have friends paying (or their employers are paying) the equivalent of $20,000 US per month ! A western style house in Seoul, with a small garden is very very expensive. Check out www.nicerent.com – homes are listed in Won – Korean currency but for the sake of argument you can assume that 1,000,000 won is equivalent to about $1000 US.
You Kyoung-min answer:
The house types in Korea are different from your country.
Classified as follows by construction law
1. Dan-Dok Ju-Taek (Individual House)
Dan-Dok means Single or Independent. Ju-Taek means House.
This house type is for single family. The net space of house itself and the total land space must not exceed 100 pyeong and 200 pyeong, respectively. Otherwise, it is subject to heavy Tax. (pyeong = 3.3 square m)
This house type is very much popular in Korea. Most of the convenient facilities such as hospitals, schools, municipal offices, department stores, etc are located nearby apartment.
3. Da Ga-Gu Ju-Taek
Da means many. Ga-Gu means household.
The so-called Villa in foreign countries is Da Ga-Gu Ju-Taek in Korea. There is no name, called “Villa” in Korea.
4. Yeon-Lip Ju-Taek
Yeonlip means “together”.
This house type is between apartment and Da Ga-Gu Ju-Taek. This house type is allowed to have up to 4 stories and more than 20 households.
Separate property right is allowed to register by individual household.
It is Office + Hotel.
Actually it is not classified as one of house types in Korea by law. It is for business purpose and not allowed to have a family life there in principle.
However, in reality, many single corporate staffs, office ladies and graduated students live there, because of convenient, good security and privacy.
Further, Officetel is normally located downtown in the places having a good transportation and entertainment facilities.
6. Oneroom (studios)
Actually it is not classified as one of house types in Korea by law.
If there are 1 room in Dan-Dok Ju-Taek, Da Ga-Gu Ju-Taek, Yeon-Lip Ju-Taek, officetel. It is said oneroom. Some times officetel one rooms said officetel. One rooms have a bathroom and kitchen area. Some oneroom has fully furnished(more high price). Because many student, unmarried people rent oneroom.
This is a kind of one-room flat with less than 5 stories and a parking lot. College vicinities such as Sinchon and Sirloin-dong are the areas where you will find this type of apartment
Rental System in Korea is followed.
1. Jeon-Se : It started from bank interest high age.
70% of the house rental in Korea is on Jeon-se basis.
If the sale price of the house is 100, the Jeon-Se amount is normally around 60~80% of the sale price.
It is the combination of Jeon-Se and monthly Rental in foreign countries.
In this case, around 20% of the sale price is to be paid as the deposit (security), which will be paid back when the lease contract is expired.
Certain amount is paid every month as a monthly rental charge.
3. Kalse (all prepaid rent )
This is only for foreigner.
It requires advance payment of the total monthly rental for the entire lease period.
The contract is usually for 2-3 years.
There is nothing left when the lease contract is expired.
However, this is most common method of payment by foreign nationals who are to live in Korea for a certain period.
Is a co-op a better option for a 1st time home buyer?
I currently rent and am tired of “throwing my money away” every month on my crappy little apartment. I’m looking to buy my first home and am trying to weigh all of my options. I have great credit and do not have any debts whatsoever (no car payment, credit card bills, etc), however I only make around $40k annually.
I’ve looked at regular condos and townhouses, but they all seem out of my price range at the moment. A decent one in my area sells for at least $200k. I’ve noticed that co-ops are much cheaper, but I don’t know if I’m sold on the whole idea that I would own stock as opposed to an actual piece of property.
So my questions is: Is a co-op a good option for me or would you recommend that I stick with my crappy apartment a few more years, continue to save, and then try to BUY a condo/townhouse?
Co-ops are fine investments and good places to live but you have to check the co-op rules carefully before you buy. Some of the rules might make it difficult for you to sell. For example, my sister has a co-op and their rules say that, after owning the co-op for two years, you can sell it for “market price” and establish the price yourself, but if you sell it before 2 years, the co-op board sets the sales price at the price you paid plus the rate of inflation for however long you have been there. This is done to protect the co-op from property “flippers” who purchase property cheaply, make some repairs, and turn around to sell at a big markup. Anyway, this rule worked well for my sister— she actually bought way below market from someone who was forced to sell in those first two years— but worked against the people she bought from. So check the rules very carefully to make sure you can live with them.
In general it is a good way to go, though.
Where is a good, yet least expensive place to live in CA if you’re interested in screenwriting, commuting ok?
I am interested in screenwriting and don’t mind commuting. I’m just graduating film school on the east coast. I’m sure people move to CA all the time for their film dreams, however, I’ll be moving there cold turkey, with no family, no friends, and only a few people from college that i haven’t kept in touch with much. Any advice?
There isn’t any specific area to live in, you can live anywhere in LA (what we locals consider LA, a large part of LA County, not just LA city) and be a screenwriter/filmmaker. The entertainment industry is all over LA, from Santa Monica to Pasadena. Because of our traffic, what should be a 15 minute drive can take an hour, so you really don’t want to live an hour or two (in no traffic, x 2 in traffic) out of LA, because in the boonies where the lower cost of rent might make it worth it (considering gas and car maintenance) are not very nice and the stress of the drive would totally negate any benefit. You want to be able to go to events, network, make friends with other writers/filmmakers, and you won’t find that in the boonies.
Burbank, Glendale, and Pasadena are a bit less expensive than the westside of LA for comparable housing and often better safety, and there are plenty of screenwriters and filmmakers in those areas. It’s generally a more laid back attitude, on the westside and in the valley there seems to be more a feel of desperation and competitiveness for those trying to break into the industry, higher density of aspiring writers, filmmakers, actors, etc. (And likely less prepared.)
On the westside, some neighborhoods in Culver City and Palms have a good balance of safety and cost. Many industry people live in the valley, like North Hollywood, because it’s less expensive, but it’s not-so-nice in some neighborhoods. Hollywood is expensive for what it is, and not so safe. (I grew up there, I love it, but still…) Los Feliz is nice, but on the expensive side. East Hollywood/Franklin in the area that borders Los Feliz sometimes has nice apartments for a reasonable price (for LA). Many very nice areas have not-so-nice neighborhoods, so you really have to check out the building and neighborhood before renting. Things can change block to block. Large areas of LA have crime, but often it’s crime of opportunity, so don’t give anyone the opportunity. Be aware of your environment, have good locks on your doors and windows and alarm your car, don’t do dumb stuff like walk around at night or invite strangers over, and you should be fine.
Expect to pay $800+ for an ok single and $1100+ for an ok one bedroom, in an ok area. Anything cheaper than that and you better check it out carefully, it may be a bad situation, or a scam. Lots of rental scams. If a landlord doesn’t run your credit, it’s likely an illegal sublet or scam.
You need to have a car, so be sure to figure that in your budget. Our public transportation isn’t very good overall, and doesn’t work for people who need to drive all over LA. Jobs are very tough to come by, especially during the summer (many high school kids have their summer jobs already), so use whatever resources you have to find a job before moving out here. It can take 4 – 6 months or more to find an entry level job if you aren’t lucky. Jobs in the entertainment industry, even no/low paid jobs are competitive.
Just a warning, all those people you see at Starbucks, etc with their laptops open, those are aspiring screenwriters. All those attorneys you see everywhere — those are aspiring screenwriters. Seriously. People think screenwriting is easy (it’s not), and everyone thinks they have an interesting story to tell (poor readers).
Did you study screenwriting in film school? If not extensively, you might want to look at Writer’s Boot Camp in Santa Monica. Not cheap, but their 5 week Basic Training class is good if you have an idea ready to go, some direction of where it’s going to go, and lots of time to write during those 5 weeks. WBC uses their own terms, which can be annoying, but for many, their style of instruction is a good fit. WBC also has frequent good networking opportunities.
In case you weren’t aware, if you’re ready to pitch a script, you really should have 3 finished and ready-to-be-pitched scripts. If you pitch your first script, the response may be, Ehh, what else you got? And if you don’t have anything else, that might be your first and last opportunity with that person. Don’t pitch until you’re ready. And don’t send out scripts until they are really ready to be read. Readers pass along info to other readers on scripts/writers not worth reading. And watch the number of pages! (Hopefully you’d have a good agent who would explain all this, but some aren’t so good.)
Screenwriting Expo in September @ the Westin LAX Hotel.
Screenings for writers:
Are you doing Script Frenzy? Even though it’s about half over, it’s a good way to get the brain in writing mode, putting down words, no editing (no time). Give it a shot.
Script Frenzy http://www.scriptfrenzy.org/
Needing help finding apartments in the Lewisburg, WV area?
Pretty self explanatory. A lot of sites on the net aren’t reliable and don’t have pictures and such. I’ll be moving from Lexington, VA. I work over in lewisburg but other than 40 hours a week for work, I don’t spend a lot of time over there. So, I need help finding cheap places to rent.
Property management companies in the area, but do not pay for credit check until you first – ck with the state and/or county to confirm they are a legal business, Also because you want to be safe check with a “spotcrime” site with each address no place is free of crime but you can improve your odds and remember one street now days can be very different.
Also you might want to rent a room just till you get a feel for the area you want to look/live in
Is a property management company worth using for just 1 house?
I’m getting married & was wondering if I should sell or rent my current home. I know property management wants about 12% & I’d rather pay the percentage then be a landlord!! I’m just wondering if its worth it.
thank you for all of your great answers!!
In answer to your question about selling or renting your house once you are married. That questions can best be answered by yourself.
#1 Do you have enough equity to make it worth while to sell it?
#2 Can you take the money and get the same type return on your money
A. The tax write off on the mortgage interest.
B. The tax write off on any repairs made to the property after turning it into a rental.
As far as the other question about paying 12% for a management company to manage the place, first of all I personally think that is too high. The other thing is that being a land lord is really not all that difficult.
Even if you do decide to hire a management company to take care of your rental, you should join the Apartment House Association in your city.
They will have the necessary legal forms and rental contracts that are necessary for you to use. They can also recommend an agency that will allow you to run your credit checks. Since you only have one rental they might run it for you. Of course they will charge, but you pass this on the potential renter when they are applying for rental in your house.
The main thing is they are versed on the laws pertaining to rentals in your city, there fore if a problem arise you may call for assistance with them. They will be able to give you limited legal advice. They also will have some idea as to what the rents are in your city for the type property you plan to rent.
I would contact an appraiser to assist me in determining the rent that is being charged in the area where the house is located. He will charge you approximately $35-$50 for obtaining this information for you.
Once you have determined the rent add enough to cover the cost of a gardner, I would not depend on the tenants to take care of the lawn and keep it in top condition.
You can also include in your rental contract that anything that need repairing that cost less than a certain figure to go ahead and take care of the problem without calling take it out of the rent or you can split the difference. Anything over a certain price they should call you, they should also have an estimate of the cost to repair whatever needs repairing.
You should not allow them to repair anything as even with good ntentions, if something should go wrong it could cost more to correct the problem than making a mistake.
To solve a few problems that might arise, you might speak to a plumber, an electrician and a handy man. See if they will be on call to take care of anything that might happen at your rental. You should call your handy man first and see if he is able to take care of the problem. He is the cheaper of the others, if he can’t solve the problem then at least you will have someone you trust to have seen the problem.
If everything in the house works now you will not have that many problems with the property.
Select your tenants well. Find out why they are leaving the place they are staying in now. Once you have gotten your list of potential renters down to three call their place of employment, see how long they have been employed there.
Call their present land lord, find out how they are doing there and why they are leaving. You might also inquire as to if they have been late in any of their rent in the past 24 months. Don’t put too much stock in this conversation as the present land lord might be trying to get rid of them.
I would make an unexpected visit to the present homes of the three that I have narrowed my list down too. Select a reason to be there. You found something on the contract that need discussing, You have their credit report and had a few questions concerning them.
Ask to use the bathroom so you can get inside the house. You are looking for abnormal wear and tear, holes in the wall, tearing and hanging wall paper, smells and other things that you know don’t go in normall house holds.
When you get to the house this might sound strange, but ask if the person you have an application for lives there. You see there are those that would lie about their current address. If they don’t live there ask where they live and write this address down. You might also write them off also. They lied as to where they live there fore are hiding something.
I hope this has been of some use to you, good luck.
would you give me an apartment if this is wat i offered?
if you where a landlord would you give me an apartment if even tho my credits not so great from past mistakes, but i have a really good job, offered to give you $200 today and $300 more on friday, then the rest of the sec deposit in two more weeks and offered to pay $30 more a month for rent?
it would be with my boyfriend of 2 years. the landlord wants two months rent to move in wich is $1340. that means the rent is $670 but im offering $700.
id give him $200 today, $300 on friday and the rest when we sign the lease.
Hey girl….thought I’d give my input on this and I really hope it helps!
Some landlords are really cool and others suck! You will have to talk to your landlord about this, and keep an open communication between you and him/her.
Me and my boyfriend moved into a place like 3 years ago. We didnt have enough for our deposit, etc, so he accepted some now, and some later. Since then we, (as first time renters) have kind of been up and down…really it was our first time on our own and its sooo hard! BUT our landlord has been really cool…he allowed us to move in without having our first ‘bill’ paid….and in the three years we’ve been here we have definitely been late on our monthly payments! He has been very accomedating to us. And the fact is there are alot of landlords who (rightlfully, I realize!) demand their rent the day it is due, or will knock on your door a day or two after).
The best you can do, as we have done, is show that we are responsible. Do you or your boyfriend have a steady job, so rent will be reasonable and in your monthly budget? Really only your landlord can determine what is ‘reasonable’ to pay your rent, and maybe they might check your credit or your references to make sure you can pay it every month. If something comes up, speaking to your landlord immediately is necessary…and unfortunatly, sometimes only THEN can you determine if they are going to work with you.
You obviously sound concerned about this…as I have always been, and as of now, although we have been months behind in the past, we are completely current with our rent. There is somethign to say about responsible people who arent always financially in control (by that I mean sometimes sh*t just comes up! For example, we had a dog who had a rare birth defect and needed and operation…sometimes things come up, but people who are responsible will always pay their debts, to vets and to landlords!).
If you’re purposely offering 30 dollars more a month, I’d reconsider a number of things. For one, what do you and your boyfriend make? Me and my boyfriend are doing ‘okay’ but 30 bucks extra in bills can easily put you behind…hey, 670 bucks is alot anyway! Second, if you’re offering the extra money so you can secure that place…is it worth that? What convenience, or happiness does that apartment give you? If you think the benefits are worth 670 then do it. But chances are you can find a cheaper place if you want to ‘compromise’.
One word of advice from all of this. Only buy what you can afford! And dont just look at your paychecks to figure out what you can afford. What if you have a child, a pet, a car accident, an injury. If your’e looking for a 2 year stay chances are SOMETHING will come up…for us it has been a number of things! And tying yourself too tight when it comes to rent is not worth it unless the location or price work out for you.
Really this is something you have to work out with your landlord. Dont offer extra money until you talk to him or her….and if they dont like the idea then wait a little bit longer and get it when you can afford it. Many landlords are ultimately concerned with money, and others want to help (reasonable, responsible) tennants out when they can.
If you’re pulling strings at the beginning…like we, unfortunately, were, you might have to pull strings in the next 2 years. If you sign a 2 year contract at the beginning with a jerk, you’ll be in trouble later. Only sign something with someone who seems to understand you and is willing to work with you.
Good luck…I hope it all works out.
Is 2 people working minimum wage enough to live on in LA?
My boyfriend and I want to move in together , but we arent sure of the costs. Lets say we both work minimum wage 40 hours a week. And rent is 700-900 (We havent found a place yet, but thats our range. For a studio or 1 bdroom) Would this be enough to live on living in Los Angeles? Including utilities and groceries. Thanks for your help
It would be really tough to live on minimum wage, and it would be super stressful on your relationship. It isn’t doable for some people. You would have to watch every penny and there would likely be nothing left over for fun, which is really hard. It would be hard to have a car, with mandatory insurance, gas, registration, maintenance, etc.
Some landlords won’t rent a studio to a couple, only to one person. Studios generally start at $800+ and one bedrooms at $1100+, but those properties may not be acceptable to you. If you’re under 21, you’ll likely have a hard time finding a landlord to rent to you. Check your credit history and make sure there are no mistakes.
Free Credit Reports authorized by the FTC: https://www.annualcreditreport.com/cra/index.jsp
Many employers won’t give you full time hours in entry level jobs because sometimes benefits that cost them kick in. Minimum wage is $8 an hour, and that’s what most entry level positions pay. That’s $16640 a year, about $1100 a month net depending on deductions. Right now it’s very tough to find any job. In N Out usually starts off at $10 an hour. That’s about the best one can get for an entry level job. (My princess niece actually likes working there more than she did in an upscale department store.)
Utilities depend on you, you’d have to be very careful with even a window air conditioner during the summer. You can easily spend $300+ a month in a small apartment on electricity if someone blasts the air. Figure $125+ a month for electricity, gas, water, cheap internet, cheap cell phone service, but it depends on usage and your providers. You’d have to watch every penny.
How to Eat on $7 a Day:
It’s work to save money on food, cooking from scratch is cheapest, and you have to avoid eating out.
Look at Target for cheaper food (now some have fresh) than at the supermarkets. Trader Joe’s is good for almost ready food.
Are you going to go to college to learn a skill so you can earn more? Living on minimum wage and the tiny raises won’t really cut it for long. Community colleges teach many skills, from cosmetology to EMT, at a reasonable price. What about staying at home until you can get a job that pays more than minimum wage? Maybe look into waiting tables, but it’s really tough to find those jobs now, as the restaurant business is in a bad situation. The best tipping jobs require lots of experience, so look at places that have many young people working, like Islands.
You’ll want to live near work, so find a job first, and save up for more than just rent first and deposit, figure out on paper all the stuff you need that adds up, like household goods and personal items. Then save up way more than you think you’ll need. What if one of you loses your job, or your car breaks down? Start figuring out how much stuff costs and see if you really think you could live on minimum wage. Areas like Glendale and Pasadena, San Gabriel, etc are less expensive than the Westside. Don’t burn your bridges if you move out, you may need help from family in the future.
Do you think it is a good idea to put a second house in my name?
I was asked by my folks to take ownership of a home they have had for a few years. (25) the home is payed off and vacant. I am divorsed and own a home already so this would be a rental home.
I was told it is better if i form a corporation and put both homes in it. Would this be the way to go? Will i have to pay more taxes?
You need not place the either home in corporation. There must be a compelling reason for this.
Now about taking possession of your parents home to use as a rental that is good.
There are two ways you may do it
#1 You and your parents appear before a notary public to sign the necessay needs after which you take the signed deed to the county recorders office for recording. This is the cheapest way and perfetly legal.
#2 You can call a title company listed in your telephone book, call one that you select and tell them your parents want to transfer their free and clear property to you. They will set up and appointment for you guys to come in and sign the various deeds. Once signed they will do the recording for you. This method will cost a bit more but over the long run will be more beneficial to you. You might need your divorce decree. Get an original to have on hand and by all means ask the title company.
You will have to pay any county taxes and insurance on the property, but then you knew that because you are paying that now on your present home.
If you plan to own more than one or two rentals it might be necessary to form a corporation to protect your interest and limit your liability but for just one house, I don’t think it is necessary.
Once you have taken possession of this property, did any necessary repairs to place it on the market for rent, you might want to join the local Apartment House Association.
This orginazation will be able to assist you in getting the proper rental agreements, local land lord tenant laws. They might also assist in running credit reports for potential renters since you only have one rental unit.
They have monthly meetings as well as a monthly magazine to keep members abreast of the new and pending laws of the state and city in which you reside.
Their services might be of great benefit to you and will be able to answer lots of questions concerning ownership, proper rents for your area and other things you might need to be successfull in this new business you are about to enter into.
There are also tax benefits you will now be able to take advantage of like depreciation, taxes and insurance, rent while waiting for a new tenant, and repair and fix up you might make on the property preparing if for a rental.
Please check with your cpa or tax preparer for any and all tax advice. You should do the same for any legal advice.
I hope this has been of some use to you, good luck.
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