Key Money Free House

[nullpointer]

Hello,

I searched the previous threads but was not able to find what I was looking for. Can anyone recommend any real-estate agents who can provide apartments/houses with no key money. Any help would be appreciated. I am looking to move somewhere in Tokyo-Minato-Ku area. If someone knows of some other way of apartment hunting without key money also then please do let me know.

Thanks in Advance.

[spyder]

Try LeoPalace or SakuraHouse :) Google them for links. Both are located in Shinjuku.

[FG Lurker]

I assume you are looking for a place with no key money because you are short of cash to pay the key money up front. You'll find places advertising in gaijin-oriented magazines that provide this.

However (at least in Osaka) there is no such thing as a place with no key money. Either you pay key money up front, or you pay for it over time with a higher rent. (It's not like the agent will say that of course -- but if you compare rents of places with key vs similiar places without, you will be paying more monthly unless you got the place key-free through a good business contact.)

The trick is to calculate your expected stay in the place and thus figure out which way works out cheaper -- higher rent or up-front key money.

[GomiGirl]

I got a place with no key money. I had to ask around though. They do exist.

Try the following companies - google for their websites

ENPLUS
RES.jp
Tokyo Housing Bureau

If you PM me I will send you the phone number of the wonderful agent I used. She is a private operator. She was more than willing to negotiate with the landlords to waive the key money for a slight increase in rent or for 3 months deposit rather than 2.

It is still a HUGE cost for moving in but it is worth asking for the agents to negotiate.

[Caustic Saint]

I got my new place through Tokyo Rent (http://www.tokyorent.com/). No key money or agent fees, and just one month's deposit and first month's rent up front. (Plus 15,100 yen for two years' insurance.)

They're a dream to deal with, have English-speaking agents and can help you out with getting all your utilities and internet hooked up.



If you use them, let me know, since I'd get a kickback on my rent. :)
But even if I didn't get that, I'd still recommend them.

[nullpointer]

Thanks to everyone for the replies.

I originally posted this when I was looking for a new place in Tokyo. I did find a nice place through a realtor based in Ginza. I got her reference from a colleague and she was very helpful. It seems there are a bunch of companies, like Sumitomo etc. who own a huge number of apartment buildings and have no problems at all about not charging key money. I had to pay 4 months deposit instead 2 month deposit + 2 month key money and they also made it clear on the contract as to the maximum amount of deposit they will deduct for "cleaning" the apartment when I leave. Best of all, they were willing to negotiate the rent and reduced it by 10% when I told them that I was willing to move in immediately. I was very happy with the realtor as she showed exactly the type of places I specified. If anyone wants the contact details let me know and I will dig them up.

[Skankster]

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Just because they are asking for key money doesnt mean they require it.
It is negotiable.

They use it as a negotiation tool against

* lowering the rent
or
* large (x2) deposit

In Kansai it is not that easy but in Tokyo... Its as easy as taking candy from a baby!!