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. 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!!