One of most Frequent asked Question: General management Fee of Apartment in seoul.
Living in different culture is not easy. When you move to foreign country for long term stay, you must choose your residence.
When you are looking for the residence in South Korea, you probably face with new type of housing expense, general management fee of apartment in Seoul or General maintenance fee.
general management fee is neither utilities nor rent and its amount is not small to ignore.
So here I explain about it to help you understand.
Why resident have to paid the General managemant fee?
Population density of urban areas in South Korea is extremly high. (26000 people per Sq. Mile)
Because of it, There are a lot of apartment house. Unlike the single house, this apartment house shares certain area in a building such as elevator, stairs, gym, and parking space.
Therefore, When the apartment house begins to use, government established the Law of apartment house.
From this Law, all resident of apartment house must pay for the maintenance cost of common area, and it is why the Apartment house charge this fee to resident.
In short, general management fee of Apartment in Seoul is charged fee by Law of apartment house.
Component of the General Management Fee.
If you understand why you must pay general management fee as resident of Apartment house, then you might be curious about what is in the general management fee bill.
Component can be also different by what kind of common facilities are in the apartment but usually these are some factors you can see in the general management fee bill.
- Electricity of common area: which includes, lighting lobby, stairs, and parking space, and cooling these area.
- Cleaning fee for common area
- Elevator cost: If Apartment have elevator, it cost for working, checking and maintenance for it
- Long-Term Repair and Maintenance Expense: It prepare the cost of fixing common part of building. Duration of house is usually around 30 years. After long time, the apartment house will need something to fix in common area. So, the This is kind of reserve fund to prepare long time. When Apartment house need to paint, repair stairs, main water pipe, this fund will use to cover its cost.
- Managing cost: If there are other fecilities such as gym, swimming pool, or sauna, managing cost also chaged as
Like the explanation above, it is mostly about the cost for current residence. Also, many apartment houses issues General management fee bill with other utilities such as gas water and electricity. However, if tenant pays for the bill Long-Term Repair and Maintenance Expense is the one tenant can ask owner to refund. Long-Term Repair and Maintenance Expense is kind of reserve fund, so Law of apartment house regulate tenant can ask refund this to owner when lease contract finishes.