Do you know that when renting an apartment in Japan, the initial costs can be 4 to 6 times the monthly rent?
If you prefer to read the article, here you go!
You will find that renting an apartment in Japan has unique customs that may surprise those who live there for the first time.
Generally, tenants are required to pay the following initial costs in addition to the rent for the first two months, when signing a rental contract.
Deposit
A fee that a tenant pays to the landlord at the beginning of the lease.
This will be refunded when moving out, however, restoration or repair costs may be deducted. The amount is usually equivalent to one or two months’ rent.
Key money
Translated as “Reikin”, a non-refundable payment made to the landlord.
This is a unique feature of rental agreements in Japan.
The amount is usually equivalent to one or two months’ rent, but you can find properties where the payment of deposit and key money is not required.
Agency fee
A payment made to a real estate agent in helping to find and secure an apartment.
The amount is usually equivalent to one or two months’ rent.
Gurantor fee
A gurantor company acts as a guarantor for a tenant, ensuring the landlord will receive rent payments and cover damages if the tenant defaults.
The price range is around 50% to 100% of the rent, but there are some properties that do not require a guarantor.
Lock exchange fee
In Japan, it is common for tenants to bear the cost of lock exchange fees upon signing the lease.
The amount of these fees varies depending on the property.
Fire insurance fee
While tenants are not obligated to have fire insurance regally, most landlords require fire insurance as a condition for occupancy.
To ensure a smooth contract process, it is recommended to use the specified service.
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