No-Deposit Rental Options in Korea: Affordable Choices for Foreigners

How Foreigners Can Find Low-Commitment Monthly Rentals in Korea

For foreigners living in Korea, no-deposit monthly rentals (무보증 월세) are a great way to avoid high upfront costs. These rentals are especially popular among short-term residents, international students, and young professionals, as they allow you to move in with minimal financial burden.

Features and Benefits of No-Deposit Rentals

Unlike standard leases in Korea that typically require a security deposit of KRW 5 million or more, no-deposit rentals either require zero deposit or a minimal amount (under KRW 1 million).

These rentals are commonly found in:

• One-room apartments (studio flats)
• Officetels (residential-commercial buildings)
• Goshiwon (dorm-style units)
• Shared housing or co-living spaces

They are well-suited for short-term stays (6–12 months) and may offer discounts or waived deposits for longer commitments. Most units come fully furnished with appliances, allowing for immediate move-in.

Where and How to Find No-Deposit Rentals

Use Korean rental apps like:

• Zigbang (직방)
• Dabang (다방)

Apply filters such as “No Deposit” or “Deposit under 1 million KRW” to browse real-time listings.

For commission-free rentals, check out:

• Peterpan’s Good Room (피터팬의 좋은방 구하기) – a direct landlord-to-tenant platform with frequent no-deposit listings.

Shared housing platforms like:

• KoZaza
• Homes Living (홈즈리빙)

are also foreigner-friendly and feature many no-deposit options.

For short stays, Airbnb and Wehome often waive deposits for longer bookings.

Important Contract Tips

• No-deposit rentals usually come with higher monthly rent (10–30% more) than standard rentals. Compare total costs before committing.
• Some places may charge a small holding fee or utilities deposit, so confirm all additional costs like maintenance or utility bills in advance.
• Review the lease carefully—late payments could result in eviction clauses.
• If staying longer than 3 months, you’ll need an Alien Registration Card (ARC), and your lease should include passport or ARC number for legal protection.

Summary

No-deposit rentals in Korea offer affordable and flexible housing options for foreigners, especially those staying short-term.

With the right platforms and a clear understanding of contract terms, you can find a convenient and legal place to stay without the financial burden of large deposits. Just be sure to double-check monthly rates, extra fees, and documentation requirements before signing.