Utilz
Jeonse-Wolse Converter
Convert between Jeonse deposit and monthly rent
Why Use This Tool?
- Compare Jeonse and Wolse options when renting in Korea.
- Understand the financial trade-off between deposit and monthly rent.
- Adjust the conversion rate to match current market conditions.
Formula
Monthly Rent = (Jeonse - Deposit) x (Rate / 100) / 12. Equivalent Jeonse = Deposit + (Monthly Rent x 12) / (Rate / 100). Default conversion rate is 4.5%.
How to Use
- Choose conversion mode: Jeonse to Wolse or Wolse to Jeonse
- Enter the relevant amounts
- Adjust the conversion rate if needed (default 4.5%)
- View the converted amount and summary
FAQ
What is Jeonse?
Jeonse is a Korean rental system where the tenant provides a large lump-sum deposit (often 50-80% of property value) instead of monthly rent. The deposit is returned when the lease ends.
What is Wolse?
Wolse is the Korean term for monthly rent. It usually comes with a smaller deposit than Jeonse.
What conversion rate should I use?
The default 4.5% is a common market average. Lower rates (3-4%) favor tenants, higher rates (5-6%) favor landlords. Check current market rates for your area.