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Expatriate real estate lease examples
[Example 1] Home contract for a foreign employee of a foreign corporation
Recently, we helped a foreign expatriate employee working in the Korean branch of an overseas corporationlease a private residence.
The client did not have a corporate account or financial history in Korea, especially since the overseas corporationfollows the system of “no security deposit”and wanted to pay the lump sum rent without a security deposit.
The problem was that under Korean leasing practices, a no-deposit contract is risky for landlords. Without a security deposit, there is no security against late maintenance fees, late utility bills, or non-payment of rent.
We emphasized to the landlord that the tenant was a foreignemployee of an overseas conglomerateand proposed a lump s um payment of one year’s rent, explained to the corporation that it is very difficult to sign a contract without a deposit due to Korean leasing practices , andminimized the burden by setting a deposit of only one month’s rent.
As a result, the landlord secured a guarantee against late management fees, and the expatriatewas able to close smoothly with an affordable minimum deposit. The deal was dramatically finalized with both parties satisfied, and the expatriate is now in stable housing.
[Case 2] A corporate housing lease successfully secured for a foreign employee under challenging conditions
I was working on a lease for a private residencefor a foreign employee working for a domestic corporation. The problem was that the terms the corporation wanted were different from a typical lease:
They wanted a 2-year lease, butwith a 1-year mandatory residency requirement, and they wanted the contract to be in the name of the corporation, not theemployee.
However, landlords were nervous about contracting directly with an entity.
They were concerned about “unclear liability” and “difficulty responding to management fees or damage.”
We carefully aligned the positions of both parties:
for the landlord, guiding them through the entity’s financial stability and accountability memorandum, and
for the entity, clearly communicating the terms of the management fee settlement and maintenance responsibilities required by the landlord.
In the end, a deal was struck with a minimal one-month security deposit, a lump sum upfront for rent, and a monthly management fee.
Both parties were happy with the outcome, and the expatriate employee is now a stable resident.
The foreign lease was a reminder that it’s not just about ‘brokering’ but about ‘coordination and trust’.
✅ Tip: If a foreigner or overseas entity is a party to the contract, it is key to fully explain the differences from Korean practices and meet in the middle.
✅ If you need a contract similar to your case, we can provide you with the best solution based on our intermediary experience.