Korean housing terms explained (rent, maintenance fee, installment, ARC…)

HomesInKorea has no deposit and no key money. Here are the words you will see, in plain language:

• Rent (월세) — the price for 30 days of living in the room.
• Maintenance fee (관리비) — a fixed monthly amount for building upkeep and whatever the host includes (often internet, water or cleaning of shared areas). Check the listing for details.
• Cleaning fee (청소비) — a one-time charge for the move-out cleaning, paid with your first payment only.
• Service fee (서비스 수수료) — HomesInKorea's fee, a percentage of rent + maintenance, added to every installment. The amount is shown before you request.
• Installment (회차) — one 30-day period of your contract. You pay for each period before it starts.
• Due date (의무 결제일) — the day an installment must be paid. Refund and late-payment rules are based on this date.
• Prepaid (선납) — you pay for a period before you live it. The second installment is charged on your move-in day.
• Business day (영업일) — Monday to Friday, excluding Korean public holidays. Refund timing is quoted in business days.
• ARC (외국인등록증) — Alien Registration Card, the ID card for foreigners staying over 90 days. Your lease certificate is used when applying for it.
• Goshiwon (고시원) / micro studio — a compact private room, usually with a shared kitchen; the most affordable type.
• Jeonse / wolse — traditional Korean lease types with large deposits. HomesInKorea uses neither; everything here is monthly prepaid with no deposit.