The steps of Lease Contract are (1) Application Form, (2) Sign on Lease Contract (= money payment) , and (3) Handing over Keys (= the first day of rent payment)
Step 1
- Tenancy applicant fill out necessary information and submit it with copies of identification cards.
- At this point the applicant does not have to pay down payment.
- Since this application form is not yet acquired legal force, there is no penalty.
- Once the owner receives this application form by FAX, the owner begins the examination.
- With this examination, the property is held for the applicant by the owner.
Step 2
- If the owner accepts the application form after examination, Lease Contract documents will be prepared.
- It will take about two weeks between Step 1 and Step 2.
- As soon as the Lease Contract is signed, the applicant shall pay all settlement amount of money to the owner.
- In case of lease contract, all settlement amount of money is paid instead of down payment.
- The date of contractual conclusion is different from the first day of the lease contract.
Step 3
- When the first day of the lease contract comes, the owner shall hand over the key to the new tenant.
- The period between Step 1 and Step 3 is usually one month (= 30 days). However this period is not specified in the law, so there are various owners.
- The new tenant cannot bring in luggage and furniture until this first day of the lease contract.