• Title/Summary/Keyword: Long-term Rental Housing

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Analysis of Factors Affecting Economic Feasibility of Long-term Public Rental Housing Reconstruction Project

  • Joe, Won Goog;Cho, Jae Ho;Son, Bo Sik;Chae, Myung Jin;Lim, Nam Gi;Chun, Jae Youl
    • Architectural research
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    • v.24 no.3
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    • pp.85-91
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    • 2022
  • The public rental housing policy aims to provide the housing to the vulnerable class who do not have enough credit to own houses. The Korean government introduced new policies for housing supply to improve the availability of new houses. However, it is difficult to expand the supply because of the accumulated deficit of public rental housing. In this study, the economic feasibility of long-term public rental housing reconstruction projects was examined to ensure the economic and sustainable growth of public rental housing. The research found that the compensation for the accumulated deficit is needed. Also the research analyzed and identified the factors affecting the economic feasibility of reconstruction projects. The significant factors identified in this research are: the supply price of pre-sale/rental housing in the reconstruction project, total cost of the reconstruction project, and total floor area of the reconstruction project. According to the analysis results, it is necessary to increase the rent of existing long-term public rental housing, expand the government subsidy, increase the supply price of pre-sale/rental housing, and reduce the total project cost. However, there are limitations. For example, the fluctuations of construction market, residents' burden of housing costs, and the limit of the budget of the public housing authority. The increasing total Floor Area Ratio(FAR) limitation of the reconstruction project would be the realistic solution to the problem because it gives incentives to the reconstruction project.

The Analysis and Forecasting Model for Maintenance Costs Considering Elapsed Years of Old Long-Term Public Rental Housing (노후 장기공공임대주택의 경과 연수별 유지관리비 분석 및 예측 모형)

  • Jung, Yong-Chan;Jin, Zheng-Xun;Hyun, Chang-Taek;Lee, Sanghoon
    • Korean Journal of Construction Engineering and Management
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    • v.23 no.3
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    • pp.83-94
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    • 2022
  • The number of public rental housing has increased according to the government's 「Housing Welfare Roadmap (2017)」, and facility maintenance costs for the demand of improvement of performance and residential standards due to the aging of long-term public housing are significantly increasing. Consequently, the financial burden of public housing rental business for maintaining stocked housing is aggravated. However, there is a lack of objective data to analyze the size of the maintenance costs that are executed by the type of repair work, and the elapsed years of the aged long-term public rental housing. This study analyzes the execution status of 33 long-term public rental housing complexes located in Seoul for 14 to 28 years of elapsed years based on the data of maintenance costs. In addition, this study proposes a model to predict the maintenance costs by elapsed years by dividing 'Long-term Repair Plan Work and Government-Funded Project [Y1]', 'Planned Repair Work and General & Unplanned Repair Work [Y2]', and 'Total maintenance costs [Y3]'. It is intended to be used as basic data for the establishment of the maintenance plan at the stage of setting up the budget and the establishment of the sustainable operation plan for public rental housing

Korean Public Rental Housing for Low-income Households: Main Outcome and Limitations

  • Jin, Mee-Youn;Lee, Seok-Je
    • Land and Housing Review
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    • v.4 no.4
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    • pp.303-316
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    • 2013
  • This paper examines the achievements and limitations of housing assistance programs for low-income households. Korean public rental housing has been rapidly developing since 2000, and thereby achieved an increase in public rental housing stock, housing quality improvements, and the reduction of rent over-burden for low-income tenants. Despite some conflicting evidence, it appears that the provision of newly-built public rental housing has helped stabilize the prices of neighboring private rental housing units. But, as we are entering an era of one million long-term public rental housing units, we need to shift our focus from quantity-oriented provision to housing maintenance for tenants, and from cost-based rental housing to affordable rental housing and better access to rental housing for low-income tenants who are not beneficiaries of government assistance. Most of all, it is very important for local governments and the private sector to actively participate in the provision of public rental housing in order to ensure a stable rental housing market.

Minimum Floor Area Ratio Estimation Model for Reconstruction Projects to Compensate for Loss of the Aged Long-term Public Rental Housing (노후 장기공공임대주택 손실보전을 위한 재건축사업의 최소용적률 수리모델)

  • Joe, Wongoog;Na, Seunguk;Cho, Jeaho;Chae, MyungJin;Son, Bosik;Kim, Hyunsoo;Chun, JaeYoul
    • Korean Journal of Construction Engineering and Management
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    • v.23 no.5
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    • pp.108-116
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    • 2022
  • Started in 1989 as Public Permanent Rental Housing scheme, public rental housing lease policy is increasing target residents and supply in each government by introducing new supply types. However, public housing business entities have difficulties in expanding the supply due to cumulated deficit. The research suggested long-term public rental housing reconstruction business as a method to preserve the cumulated deficit from the previous. Minimum floor area ratio mathematical model was suggested by defining the floor area ratio of reconstruction business as minimum, since housing sales profit after reconstruction could preserve aggregated deficit, and mathematically approached by considering the traits of long-term public rental housing reconstruction. The determinant for minimum floor area ratio mathematical model comprise cumulated deficit of the existing long-term public rental housing, land size of reconstructed sale housing, housing sales price per unit area, and business cost per unit area. Minimum floor area ratio mathematical model is expected to be the milestone for supporting decision making regarding the economic part of old long-term public lease housings' reconstruction scale, and expanding housing supply within urban area.

A Study on the Effectiveness of Supply and Evaluation of Residential Intention for Long-term Secured Public Rental Housing (장기안심주택 공급 실효성과 거주의사 평가에 관한 연구)

  • Lee, Youn Soo;Ryu, Hoon;Park, Sung Jin;Kang, Jun Mo
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.34 no.3
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    • pp.1023-1031
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    • 2014
  • This study is conducted to evaluate the supply effectiveness of the Long-term Secured Public Rental Housing (LSPRH) program implemented by the City of Seoul since March, 2012. To estimate the residential intention of potential applicants for the housing program, two logistic regression models of residential intention are estimated based on the residential characteristics of real residents. The purpose of this model estimation is to find out factors influencing the supply of LSPRH and thus to suggest the ideas for improving the effectiveness of the rental housing program operation. The analysis result shows that financial condition, income level, and public support are the major determinants for selecting LSPRH. It is also revealed that those who are currently living in rental housing or living in a house more expensive than those in nearby areas have higher residential intention for the LSPRH program. The result also presents that some problems associated with the traditional rental housing programs - such as visually recognizable low-quality exterior building design or the concentration of rental housing on limited spots - could be solved by this new type of public housing program. Lastly, one interesting finding different from previous research is that people with the intention to move into either traditional rental housing or LSPRH do not necessarily prefer a more spacious house than their current rental house.

A Study to Improve Service System through the Analysis of Needs and Problems of Community Welfare Center and Management Office in Permanent Rental Housing Complex (영구임대주택 단지 내 사회복지관과 관리사무소의 업무 및 운영실태 분석을 통한 서비스체게 개선방안)

  • Kim, Young-Joo
    • Journal of Families and Better Life
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    • v.25 no.5
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    • pp.185-197
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    • 2007
  • Permanent rental housing which is entirely financed by the Government is welfare housing for those who fall within the lowest income bracket. This type of housing is intended for use as rental housing on a long-term basis. At present, there are about 190,000 permanent rental housing units in Korea. The purpose of this study is to suggest the implications to improve the management and welfare service system of permanent rental housing. For this, qualitative data were collected by using the in-depth interview with staffs of community welfare center and management office of five permanent rental housing complexes and two times of advisory committee meeting with housing and social welfare experts. To analyze the data gathered in this study, the constant comparative method of data analysis was used. Conflicts between the management office and social welfare center of permanent rental housing could be classified into two aspects; personal and operational. Main reasons for the conflicts between two institutions were identified such as attitude of management office staffs, lack of cooperation, current administrative system, lack of management resources such as space and operation cost, and so on. Based on the results, some implications including institutional support and social complementary cooperation were suggested for improvement of management and welfare service system for the residents of permanent rental housing.

The Comparison of Residents' Movement and Activities of Public Rental Apartments in Korea and the United States - Focused on the Comparison of SH Apartments and PHA Apartments - (한국과 미국 공공 임대아파트 거주자의 이동과 단지 내 활동 - 서울 SH공사 아파트와 미네소타 주 PHA 아파트의 비교를 중심으로 -)

  • Shin, Kyung-Joo;Jang, Sang-Ock
    • Journal of the Korean housing association
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    • v.19 no.2
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    • pp.1-10
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    • 2008
  • The purpose of this research is to compare residents' movement and activities in SH apartment in Yangcheon-Gu, Seoul (SH apartment) and PHA apartment in St. Paul, Minnesota (PHA apartment) in order to improve the quality of rental housing environment. This study had surveyed 418 residents of SH apartments in Korea and used the secondary data gathered from 1,462 residents of PHA apartments in the United States. The results of this study are as follows: The criteria of Korean residents in SH apartments when choosing their residences are lower rent payment and shorter waiting time. They seemed to have no other options than public rental housing. On the contrary, American residents in PHA apartment had more option to choose from. Therefore, Korea needs to offer more variety types of residents that can be lead to better satisfaction of low income classes. Most of the SH apartments residents has lived for long-term, in the average of more than 6 years, and wanted to live continually at their current dwelling. PHA residents showed similar tendency. However, long term residency may lead to permanent occupation of the public rental apartment by the same family. Hence, a system which can provide equal residency opportunities to all low-income classes need to be developed. Residents of SH apartment were satisfied with the personal activities but were not satisfied with group activities among residents or regarding resident meetings. However, residents of PHA apartments were more satisfied with their management because there is more in-housing-complex activity programs. Therefore, more activity program for a resident should be developed after analysing programs of different apartments and current conditions in Korea. There were some noticeable divergences among residents, based on their age, term of residence and physical, emotional and mental problem, when evaluating in-housing-complex's programs. Thus, these factors are also need to be considered when planning and examining evaluation about the management of rental apartments.

A Study on the Problem Analysis and Improvements of Long-Term Maintenance for the Permanent Rental Housing in Korea (한국 영구임대주택의 장기수선 상의 문제점 분석 및 개선방안에 관한 연구)

  • Lee Hee-Chang;Kim Yong-Su
    • Korean Journal of Construction Engineering and Management
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    • v.6 no.1 s.23
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    • pp.169-176
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    • 2005
  • The purpose of this study is to analyze the maintenance condition and cost in the past ten year on the subject of permanent Rental Housing in Seoul and Gyeong-Gi. It also suggests the problems and improvements related to long-term maintenance. The Interviews with thirty experts who have had experience in this area more than ten years and data analysis are adopted as basic methods. The data on the maintenance cost such as a budget in practice by a term and the real cost far the repair are analyzed. The primary findings of this study are as follows : 1) the rate of maintenance cost for 13 years is $4.56\%$ when the prime construction cost is regarded, while the figure is $6.70\%$ when the construction cost is considered 2) it is just of forced the basic lists for repair applied commonly to Rental housing. Hence, individually managers consider the features of housing and determine the detail lists.

A Study on Political Correspondence for Paradigm Change of Housing Chonsei and Monthly Rent Market (주택 전월세시장 패러다임변화와 정책 제언)

  • Park, Sang-Hak;Kwon, Chi-Hung;Kim, Kyeong-Mi
    • Land and Housing Review
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    • v.6 no.4
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    • pp.195-213
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    • 2015
  • Recently, there has been changing the housing rental market paradigm structure which has been increased the ratios of partly monthly rental ratios, because of increasing chonsei's price, the preference of monthly rental and the rack of chonsei's supply amount. This study had done a survey of 1,400 people for private and public rental residents by region and housing types during Dec. 2014. According to the result of survey, Market participant prospect strongly to change chonsei to monthly rental market structure and the reason of rising of chonsei's price is the preference of householder's monthly rental because of decreasing interest rate and the rack of chonsei's supply amount. The housing policy's proposal of the stability of low income class's housing and jense's price strongly recommended the expansion of public rental housing supply and the activation of private rental housing, the expansion of chonsei loan, housing boucher etx. The rental market policy for high income class have desired to market autonomy than public side's intervention, on the other hands, the rental market policy for low income class have strongly need to the public side's intervention such as the contiuneous long-term rental housing supply.

The Comparative Study on the Residential Conditions and the Community Consciousness of the National Rental Housing (국민임대아파트단지의 거주실태 및 커뮤니티의식 비교 연구)

  • Lee, Won-Young;Kang, Soon-Joo
    • Journal of the Korean housing association
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    • v.19 no.2
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    • pp.19-30
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    • 2008
  • The purpose of the study is to provide basic data to be useful for living environment of National Rental Housing, through comparative analysis of residential conditions, community consciousness of residents, characteristics of 3 complexes, whose residents have lived more than 3 years, different in area and size. Deungchon 11 Complex in Seoul, Eui-wang Naeson Complex, and Incheon Samsan 4 Complex are chosen for the investigation and the survey and 242 copies of the questionnaire are analyzed for the final result. Analyzing the contents of the survey results are as follows those deriving conclusions and suggestions. 1) Housing and construction standards are required to reconsider for enhancing of community consciousness and housing satisfaction of residents of National Rental Housing. 2) Spending on residential move, and minimize the unnecessary expense of low-income housing need to do to promote stability. 3) Facilities and equipments for residents are needed considering barrier-free design which introduces universal design. 4) Welfare facilities such as culture space and after-school classroom for teenagers are needed. 5) By using the broadcast media actively pro-mote, various layers are encouraged moving into National Rental Housing, through the concept of housing opportunities for change. 6) In short-term, community space are need remodeling and various activity programs are developed to induce activation of community facilities. In long-term, users considering a community facility plan, actively promoting activities, methods and operating system support for the government in the continuing policy and management is needed, when the National Rental Housing are planned to build. Therefore, the organic aspects such as the development and operation of the community program as well as the physical aspects such as the community space and facilities for the active community of the National Rental Housing are constantly considered in the follow-up studies.