A foreigner should use caution in leasing real estate for business(office, restaurant, store, etc.) as below.
(1) Capacity of the parking lot.
Normally there are some free parking lot for the tenant, and paid parking lot available.
Check how many free and paid parking lot is available.
(2) Cooling and heating system.
Check whether the building use central or individual cooling/heating system.
If it uses central one, the tenant cannot control the system so the fee can be high.
(3) Goodwill
There are some cases where the owner or the previous tenant require the goodwill
for the real estate. This is not unusual case in Korea but cannot protected by the laws,
which means if you pay goodwill, you should get refunded it by the next tenant when
the rent period is over, but there is no way if the next tenant will not agree with it.
(4) Management fee
Check if the management fee is much higher.
Normally a tenant should pay management fee in addition to the rent fee. The management
fee can be around 40%~60% of the monthly rent. So consider this and check your budget.
If you use my real estate brokerage company, we will handle these issues for your taste and legal right.
Tel: 02-555-3919 from Korea,+82-2-555-3919 from abroad. Email: energy17jyw@gmail.com
(1) Capacity of the parking lot.
Normally there are some free parking lot for the tenant, and paid parking lot available.
Check how many free and paid parking lot is available.
(2) Cooling and heating system.
Check whether the building use central or individual cooling/heating system.
If it uses central one, the tenant cannot control the system so the fee can be high.
(3) Goodwill
There are some cases where the owner or the previous tenant require the goodwill
for the real estate. This is not unusual case in Korea but cannot protected by the laws,
which means if you pay goodwill, you should get refunded it by the next tenant when
the rent period is over, but there is no way if the next tenant will not agree with it.
(4) Management fee
Check if the management fee is much higher.
Normally a tenant should pay management fee in addition to the rent fee. The management
fee can be around 40%~60% of the monthly rent. So consider this and check your budget.
If you use my real estate brokerage company, we will handle these issues for your taste and legal right.
Tel: 02-555-3919 from Korea,+82-2-555-3919 from abroad. Email: energy17jyw@gmail.com
