Questions about example sentences with, and the definition and usage of "Jeonse"
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Q:
'Jeonse', and the reason behind so many Koreans' choice to forgo monthly rent
Imagine living in someone else’s apartment rent free.
In many parts of the world, doing so would likely not be legally sustainable. But uniquely in Korea, a large portion of the population are living in just that way, under the rental system called jeonse.
Jeonse is a lump-sum deposit given to a landlord by the tenant.
The deposit typically ranges between 60 to 80 percent of the unit's sale price.
In return, the tenant does not pay any monthly rent and the deposit is fully refunded at the end of the contract period.
Landlords often treat the deposit as an interest-free loan for their investment or business.
Jeonse is one of the most common types of residential contracts in Korea.
According to data from the Supreme Court of Korea, the proportion of jeonse contracts accounted for 49.9 percent of the total landlord-tenant transactions in April, followed by 42.2 percent in May.
“Korea is the only OECD country to have a jeonse system,” said Prof. Kim Yoo-jin, who teaches at the department of urban planning and transportation engineering at Kyonggi University.
“Lump-sum deposit rental contracts usually exist in countries where the financial system has not yet been fully developed, but Korea is an exception. Koreans tend to prefer jeonse over monthly rent because the interest on the bank’s loans for the deposit is cheaper than what the monthly rent would be.”
Similar rental contract systems also exist under different names abroad, like anticretico in Bolivia and girvi in India.
Does this sound natural?
Imagine living in someone else’s apartment rent free.
In many parts of the world, doing so would likely not be legally sustainable. But uniquely in Korea, a large portion of the population are living in just that way, under the rental system called jeonse.
Jeonse is a lump-sum deposit given to a landlord by the tenant.
The deposit typically ranges between 60 to 80 percent of the unit's sale price.
In return, the tenant does not pay any monthly rent and the deposit is fully refunded at the end of the contract period.
Landlords often treat the deposit as an interest-free loan for their investment or business.
Jeonse is one of the most common types of residential contracts in Korea.
According to data from the Supreme Court of Korea, the proportion of jeonse contracts accounted for 49.9 percent of the total landlord-tenant transactions in April, followed by 42.2 percent in May.
“Korea is the only OECD country to have a jeonse system,” said Prof. Kim Yoo-jin, who teaches at the department of urban planning and transportation engineering at Kyonggi University.
“Lump-sum deposit rental contracts usually exist in countries where the financial system has not yet been fully developed, but Korea is an exception. Koreans tend to prefer jeonse over monthly rent because the interest on the bank’s loans for the deposit is cheaper than what the monthly rent would be.”
Similar rental contract systems also exist under different names abroad, like anticretico in Bolivia and girvi in India.
Does this sound natural?
A:
First I have to get over my mind being blown. WOW!
The only change that should be made is to initial capitalize "Department of Urban Planning and Transportation Engineering".
You might also consider using 60-80% instead of "to" and "percent" but that's totally optional. But if you do decide to change percent to %, be consistent throughout the rest of the text.
The only change that should be made is to initial capitalize "Department of Urban Planning and Transportation Engineering".
You might also consider using 60-80% instead of "to" and "percent" but that's totally optional. But if you do decide to change percent to %, be consistent throughout the rest of the text.
Q:
Jeonse is a speicific Korean house rent system. You don't need to pay the rent monthly. At first time you contract with the landlord, you give him a deposit and when contract finish he would return it to you. Does this sound natural?
A:
Jeonse is a specific Korean house renting system. You don't need to pay the rent monthly. After you first sign the contract with the landlord, you place a deposit. When the contract is over, he will return it to you.
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