Under the current Act, a rental housing business entity can register the rental business upon doing a housing rental business, but the lessee has limited access to information on whether the rental property is a registered rental house, and if it is a registered rental house, on the rights of mandatory rental period and limitation of rents increase, and there are many cases that rental business entities also do not know enough public duties in relation to registered rental housing.
The amendment adds the provision to the current Act that rental business entities shall additionally record public duties such as the restriction of sale of the housing during their mandatory rental periods and the limitation of rent increases, including that the houses are registered rental housing, in the ownership registration to protect lessees’ right and strengthen their right to know and to have rental business entities fulfill their duties in relation to registered rental housing according to its purpose.
The legislative case that requires a public duty to be additionally recorded in the ownership registration is not overburdened on rental housing business entities because it already exists in Article 61 of the Housing Act and Article 49-6of the Special Act on Public Housing.

Details

A. Anyone who has registered as a rental business entity shall additionally record public duties such as the restriction of sale of the house during its mandatory rental period and the limitation of rent increases, including that the house is a registered rental house, in the ownership registration of the house subject to the rental business (Article 5 (5) newly inserted).
B. The notation content to be additionally recorded in the ownership registration shall be prescribed by Presidential Decree (Article 5 (6) newly inserted).

Registration of Rental Business Entities (Article 5)