I choose the rental housing I want without any income requirements… LH Recruitment of ‘The House I Picked’

‘The House I Picked’ A view of the ‘Namyangju Byeolnae A1-2 Happy Housing REITs’, Deoksong-ro, Namyangju-si, Gyeonggi-do, for sale | My Home

Korea Land and Housing Corporation (LH) relaxes the occupancy qualifications and recruits ‘House Of My Choice’ tenants, where applicants can choose their own building, floor, and town to apply.

This is the first time that income and total asset requirements have been excluded from the criteria for recruiting residents of public housing. Recruitment types are National Rental Housing and Happy Housing. In other words, if you have the minimum occupancy qualifications, you can choose a house in any city/gun/gu/dong/ho you want.

On the 5th, an LH official said, “The target housing is a long-term public house that has been unrented for more than one year. It has the effect of providing an opportunity to move in to those who have not been able to,” he said.

It is attractive to be able to choose the house you want, but it is also important to note that there is a high possibility of applications for a specific house.

Applicants can go to ‘Find My Home Information’ on the ‘My Home Portal (https://www.myhome.go.kr)’ and directly search for the area and floor plan they want.

To be eligible for occupancy, all household members must be homeless as of the announcement date of resident recruitment (December 29, 2021). The homeless requirement must be maintained from the date of the announcement of the recruitment of occupants until the time of eviction. If you own a house after winning, your winnings may be canceled or your contract may be rejected, terminated or canceled.

If all of the household members are homeless, one of the household members may apply for one housing subscription. If there is a person living in a rental house without separation of households among household members, it is necessary to separate the household before moving in. However, the spouse of the lessee cannot move in even if the household is separated.

The advantage of ‘The House I Picked’ is that it does not separately verify income and total assets at the time of application or contract.

National rentals exceed 105% of the average monthly income of city workers by the number of household members in the previous year (6,552,546 won based on three people in 2021), or meet the asset requirements set by relevant laws (total assets not more than 292 million won, car value not exceeding 34.96 million won). If it is not met, the contract can be renewed only once.

Happy housing for college students, young people, newlyweds, and single-parent families can be renewed within the specified maximum period of residence (6 years for young people). At the time of renewal of the contract, if the total assets exceed the standard for resident selection at the time (72 million won for college students, 254 million won for young people, and 290 million won for others/based on 2021), the contract can be renewed only once. In particular, if the tenant owns an expensive vehicle exceeding 34.96 million won while residing, the contract renewal will be rejected.

My Home website.  If you click the red square box, you can search for housing information you want.|My Home

My Home website. If you click the red square box, you can search for housing information you want.|My Home

There is no supply of housing over 85 square meters, which is a bit disappointing for those who want a relatively spacious house. The fact that the number of applications in the Seoul area is zero is also not attractive to those who want to live in Seoul. All 207 housing units are less than 60 m², and 75.8% (157 cases) of housing less than 40 m² are concentrated. They are all apartments. The monthly rent is mostly low at 100,000 to 200,000 won, and the monthly rent for Ulsan Friendship 1 Apartment in Jung-gu, Ulsan (73.6㎡) is the highest at 360,000 won.

The application process will be held from March 2nd to 4th, and the winner will be announced on March 23rd. The winner will sign a rental contract on April 5-7, and move-in will begin on June 13.


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