Report Claims International Students at Increasing Risk of Rental Fraud in South Korea
|GIs have been dealing with shady landlords for decades, but in my opinion things have actually improved though it appears foreign students are now a bigger target:
International students here are increasingly falling victim to real estate-related fraud.
In one case, a Vietnamese student, 28, didn’t get her room deposit of 5 million won back because her landlord said she didn’t pay any monthly rent. But she claimed she paid six months’ rent in a lump sum but didn’t receive a receipt.
“The real estate procedure is complicated for international students,” one Chinese international student, surnamed Jing, told Dong-A Ilbo. “And it is harder to understand the jargon when they speak in Korean.”
Foreign students, now numbering 120,000 here, often fall victim to the fraud.
The paper cites four types. The first is a makeshift contract. Instead of a standard template contract, the landlords arbitrarily draw up one that does not protect the rights of foreign tenants.
The second is the cash transaction.
The third is the imposition of repair costs on the tenants. In the second and third cases, the landlord tries to take advantage of the foreign students’ inability to speak Korean or lack of related knowledge.
The fourth is a conflict when a student sublets a room to another tenant without a contract, which a landlord can use as an excuse to eject the tenants. [Korea Times]
You can read more at the link.
I think it is far too common around the world. I saw an article recently about student housing fraud here in the Netherlands. It talked about lack of campus student housing which puts students at the mercy of the local landlords. The University is buying apartment buildings and refurbishing existing buildings to help, but that is still below the student population plus the kids who “ wants to on their own”
Not every job requires a college degree. Electricians, welders, plumbers, and other tradesmen often have more money in their 20s, 30s, and 40s than folks who went to college. And often prettier, more well-dressed wives.