About Key money(Reikin) #1

  • Tokyo Property News

    About Key money(Reikin) #1

    Reikin, we call this “Key money” which is the part you need to pay when lease the property or apartments in Tokyo.

    In some Kansai region, they will not charge as a key money but deduct from deposit automatically instead.(Call this “shikibiki” in Japanese)

    As we have been provide apartments service in Tokyo and Yokohama, we often face number of opinion from client and this key money is one of the most questionnaire to the person coming from abroad.

    This time, we would like to focus this key money into several times.

    Part 1 Explanation of Key money(Reikin)

    Reikin is the part of payment which necessary to pay as initial cost when you rent an apartments or house.
    This sometimes call as “thank you gift” or “Present money” and well known as “Un-familiar traditional habit when rent apartments in Tokyo” coming from other country.
    “Why needs to pay such kind of fee??”
    “Why does this amount is already determined? Is this a present? Then why we landlord determine this present beforehand?” These are the opinion we sometime hear from client.
    In India, there seems have this kind payment which may be equivalent to key money but not every time and amount is not determined in advance.

    Originally, what is this system and why this kind of system comes for? As said this is coming from traditional habit in this country, we need to put this story back to after the world war.

    Originally says, the beginning was from the relative of the person who coming from local paid to the landlord for taking care of him as a “thank you gift”.
    Because at the stage around after the war,there is no one who can help them out in case when he/she have any troubles, relative may think the landlord becomes the first “relatives” for him/her when they first arrive in the city.

    And coming by the natural time flow, most landlord won`t take care the tenant that much compare with the past but this key money system were left into system of property renting.

    Continue —

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