What are deposits and key money? Basic information you should know about rental contracts

"Deposit" and "Key Money" are terms you will almost always come across when searching for a rental property, but surprisingly few people have a correct understanding of what they mean. Especially in the Tokyo rental market, these fees can be a heavy burden in many cases, making them an important point for those who want to keep initial costs down.

What is a security deposit? Its purpose and market price

A security deposit is a security money that is paid to the landlord when signing a rental contract. It is mainly used to cover the cost of restoring the property to its original state when you move out and to cover any overdue rent. For rental properties in Tokyo, the average amount is one to two months' rent, but for luxury apartments and properties with a full range of furniture and appliances, three months' rent or more may be required.

Generally, the unused portion of the deposit is refunded when you move out, but if there is any damage or dirt, the amount will be deducted, so it is important to check the current condition of the property before moving in (taking photos of the interior, furniture, and appliances, etc.). In addition, rental properties that state "no deposit required" are popular with students, people working away from home, and people looking for short-term tenants, as the initial costs are significantly reduced.

What is key money? Non-refundable key money

Key money is a fee paid to the landlord as a "thank you" and is not refundable. In the past, it was paid as a "feeling of gratitude for being allowed to move in," but nowadays, more and more properties do not require it. For rental properties in Tokyo, the average is about one month's rent, but in popular areas or new or recently built properties, it can be more than two months' rent.

Properties that come fully furnished and with no deposit or key money eliminate these burdens, making them attractive as they keep the total cost low, even including the initial costs of moving (deposit, key money, brokerage fee, guarantee fee, etc.).

Benefits and points to note about properties with no security deposit or key money

The biggest advantage of a property with no security deposit or key money is that the initial costs are significantly cheaper. For example, if a property with a rent of 70,000 yen requires a security deposit and key money of one month each, that would cost 140,000 yen. However, if there is no security deposit or key money, you can use that money to purchase furniture or move in.

On the other hand, even if you don't have a deposit, you may be charged for repairs when you move out. When signing the contract, be sure to check carefully items such as "cleaning fees" and "restoration fees" and ask if necessary. Also, properties with no key money are popular and there is a lot of competition, so it's important to check the latest information and act early.

Understand the difference between deposits and key money to make your apartment search more advantageous

It is important not to confuse security deposits and key money, as they have different roles and are refundable or not. In particular, rental properties that come with furniture and appliances and are labeled "no security deposit or key money" have a great advantage in terms of cost, as they have low initial costs and you can keep the cost of preparing furniture and appliances down.

However, it is important to compare not only the initial costs, but also the rent, facilities, area, walking distance from the station, layout, and other conditions comprehensively to choose a rental property that suits you. By clearly organizing your requirements and consulting with a reliable real estate company, you can find a room with fewer mistakes.

Cross House thoroughly reduces initial costs

If you are looking for a rental property with no deposit, key money, or brokerage fee, we recommend Cross House. Cross House offers a wide range of shared houses and apartments with furniture and appliances, mainly in Tokyo, and you can move in with no deposit, key money, or brokerage fee.

Normally, when renting a property, it is not uncommon for the deposit, key money, and agent fee alone to be more than three months' rent. However, at Cross House, the initial costs are kept to almost zero, so there is no need to prepare a lump sum of money and you can start your new life with ease.

In addition, the furniture and appliances are already provided, so the cost and hassle of moving can be significantly reduced. Basic equipment such as a refrigerator, bed, and desk are provided, and you can move in with just one bag.

If you are looking for an apartment in Tokyo, considering living alone for the first time, or want to move at the lowest possible cost, be sure to check out Cross House's property information.

Why no deposit or key money required and furnished rental properties are popular in Tokyo

There are many reasons why people choose rental properties in Tokyo that are "no deposit or key money" and "furnished with appliances." These include lower initial costs and easier preparation for living in the property. There is particularly high demand from single people, students, people transferring for work, and people on short-term stays for properties that are "ready to move in" and "conveniently furnished with furniture and appliances." Here, we will explain the reasons for their popularity in detail.

You can move in immediately with minimal initial costs

Rental housing in Tokyo usually requires a deposit and key money, which can cost hundreds of thousands of yen. However, if you choose a property that does not require a deposit or key money, you can significantly reduce that burden. Furthermore, if the property comes with furniture and appliances, you don't need to purchase any new appliances, and air conditioners, washing machines, refrigerators, microwaves, etc. are included as standard equipment, so you can move in on the same day while keeping initial costs down. If you search for properties with "no deposit and key money" and "furniture and appliances included," you will find many rental apartments and condominiums for under 50,000 yen or in the 60,000 yen range.

Easy to move in with furniture and appliances included

Moving in Tokyo requires a lot of preparation, such as purchasing and moving in appliances. However, if you choose a property that comes with furniture and appliances, you won't have to go through much of this hassle. The property also comes with a wide range of attractive facilities, such as separate bathrooms and toilets, an indoor washing machine space, and an auto-lock. For those who are moving away from home or students, choosing a room that comes with everything you need will allow you to start your new life right away. When searching for a room, it is recommended that you check the details of the furniture and appliances in advance.

Flexibility to accommodate short-term and long-term stays

Another feature of properties with no security deposit or key money and furnished appliances is that they often allow short-term occupancy or monthly contracts. On the other hand, even for long-term residents, they offer comfortable facilities and support, and have all the conditions you need to live safely for a long time, such as city gas, free internet, auto-locks, and security cameras. There are plenty of properties within a five-minute walk from stations along the Chuo and Yamanote lines in Tokyo, so when searching, it's a good idea to include options such as "short-term available" and "no renewal fees."

There are also many properties in Tokyo that are within a 5-minute walk from the station and are conveniently located

Tokyo has a well-developed transportation network, so properties within a 5-minute or 7-minute walk from the station are popular. There are many properties with such accessibility in furnished rental properties, making them extremely convenient for commuting to work or school. If you set detailed conditions in your search, you can easily find a property that meets your specific requirements, such as a 5-minute walk from the station, a corner room, or a second floor or higher, with a rent of 50,000 to 90,000 yen.

Main features of furnished rental properties in Tokyo

Furnished rental properties come fully equipped, allowing you to start living comfortably as soon as you move in. There are properties with a variety of conditions in Tokyo, so you can choose the room that's perfect for you based on the layout, rent, and facilities. Here we'll take a closer look at the main facilities and trends.

Basic facilities (air conditioner, refrigerator, washing machine, separate bathroom and toilet, etc.)

Furnished properties come equipped with the necessary furniture for daily life, such as an air conditioner, refrigerator, washing machine, microwave, bed, and table. In particular, conditions such as separate bathroom and toilet and indoor washing machine space greatly affect comfort. If you choose a property that comes with these facilities, you can start living there immediately after moving in and reduce additional expenses.

Auto-lock and security

An increasing number of rental properties in Tokyo are equipped with auto-locks, security cameras, and monitor-equipped intercoms. Security is especially important for women living alone or those who often return home late at night. By selecting "with auto-lock" as a search condition, you can find safer properties.

Special facilities include free internet and bike parking

Recently, there are many properties that offer free internet, which is a big advantage for people who want to keep monthly costs down. Properties with motorcycle and bicycle parking spaces and properties that are gas-compatible are also popular. By carefully checking these detailed facilities, you can find a room you won't regret.

Rent, size, and layout trends (1K, 1DK, 1LDK, etc.)

Most furnished rental properties in Tokyo are 1K or 1DK, but there are also an increasing number of larger 1LDK and 2DK+ properties. Most are 15m2 to 40m2 in size, and rents range from 40,000 yen to over 100,000 yen. Since the layout and size of the property are directly related to your lifestyle, it is important to determine specific conditions when choosing a property, such as "area of 30m2 or more," "1LDK or larger," or "corner room."

Points to consider when looking for a property with no deposit or key money

When searching for a rental property with no deposit or key money, complete with furniture and appliances, it is necessary to comprehensively compare and consider various conditions, such as rent, facilities, age of the building, walking distance from the station, and even the surrounding environment. In Tokyo in particular, while there are many properties available, competition is fierce and rooms that meet the conditions may be filled up quickly. In order to efficiently find the ideal property, it is important to master the tips for narrowing down your search and search techniques.

How to search for a property with furniture and appliances

On real estate information sites and portal sites, you can set various search conditions such as "furnished with appliances," "no deposit or key money," "free internet," and "auto-lock." For example, if you set the condition "furnished with appliances," properties that already come equipped with air conditioners, washing machines, refrigerators, microwaves, beds, etc. will be displayed. Such properties can greatly reduce the time required for moving preparations and also keep initial costs down.

Furthermore, by combining this with a "no deposit or key money" policy, you can significantly reduce the costs incurred when signing a rental contract. By searching with these conditions, you can easily find relatively inexpensive properties (50,000 to 60,000 yen) within Tokyo, with floor plans such as 1K and 1DK, and properties conveniently located within a 10-minute walk from the station. The key to success is to frequently check for updates and make an appointment to view any new properties that meet your criteria.

Narrowing down techniques such as "within XX minutes walking distance" or "rent under XX yen"

By setting specific conditions such as "within a 5-minute walk from the station" or "rent under 70,000 yen," you can efficiently narrow down the properties that suit you. In Tokyo, there are surprisingly many properties within a 5-10 minute walk along the Chuo Line and Yamanote Line, and by using the "detailed display" function on the search site, which is updated daily, you can check even the finer details.

Also, when setting a "rent limit," be sure to check whether management fees and common area fees are included. Be careful, as there are cases where the total amount exceeds your budget. Even if you narrow down your limit to "rent under 60,000 yen," the actual payment amount may exceed 70,000 yen including management fees.

Recommendations by area (Chuo Line, Yamanote Line, Keio Line, etc.)

Rent rates and living conditions vary greatly from area to area.

For example, areas along the Chuo Line are popular with students and young workers, and the average rent is relatively low. You can find properties near stations in Shinjuku, Nakano, Koenji, etc. for around 60,000 to 70,000 yen. There are also many properties that meet the conditions of being fully furnished with appliances and no deposit or key money.

Areas along the Yamanote Line are ideal for people who value accessibility, and there are many luxury rental apartments with fully-equipped facilities such as auto-locking doors and free internet. Although rent is higher here, the convenience of being within a 1-5 minute walk from the station is appealing.

Along the Keio Line, there are many properties with relatively large floor plans and suitable for families, and the average rent is lower than in the city center. You can sometimes find a 1LDK or 2DK apartment with furniture and appliances for around 60,000 to 70,000 yen. The key to success is to thoroughly research the area information and choose a line that suits your lifestyle.

How to check the age of the building and the building facilities (new building, city gas, 2nd floor or higher, etc.)

The age of the building is an important factor that affects comfort. Newly built or recently constructed properties are equipped with the latest facilities, the building is clean, and there is a sense of security. If you choose a property that supports city gas, the utility bills will be cheaper than propane gas, which is also an attractive feature.

Furthermore, if you are concerned about security, check for conditions such as "automatic lock," "second floor or higher," and "corner room." These are also advantageous in terms of soundproofing, sunlight, and privacy. Also, for properties with furniture and appliances, the year and condition of the equipment are important. Checking in advance how new each piece of equipment, such as the air conditioner, washing machine, and refrigerator, is and how well it feels to use, can help prevent problems after moving in.

Benefits and points to note when renting furnished apartments

While there are many benefits to renting a property with furniture and appliances, there are also some things to be aware of. Here we will explain some points based on actual living conditions and help you choose a property that you will not regret.

Advantages: Costs are kept low, you can move in right away, and it's easy to start living in a home

Disadvantages: Limited selection of furniture and appliances, no support when they break

Since the furniture and appliances are installed from the beginning, you may not be able to choose the design or performance yourself. Also, if the equipment breaks down, the landlord will repair it, but you need to consider the inconvenience of not being able to use it while it is being repaired. Be sure to check the details with the management company before moving in and understand the details of the support.

Actual living comfort and reviews

User reviews such as "It was easy because the furniture and appliances were included" and "I was able to significantly reduce initial costs without a deposit or key money" are very helpful. On the other hand, there are also reviews such as "The facilities were old" and "The cleaning was poor", so it is important to view the property and check photos before moving in. If possible, we recommend visiting the property and seeing the condition of the common areas and interior of the building in person.

Conditions to check before moving in (floor plan, storage, soundproofing of the building, etc.)

When choosing a rental property, it is important to clearly determine the conditions that suit your lifestyle, such as the layout, area, storage space, soundproofing of the building, whether it is on the second floor or higher, etc. Check the detailed information carefully and confirm the floor plan and photos of the facilities. Especially in Tokyo, it is easy to have noise problems with neighboring rooms, so it is important to check the soundproofing.

[Price guide] Rent and initial costs for rental properties with no deposit or key money and furniture and appliances included

The rent for furnished rental properties in Tokyo varies greatly depending on various conditions such as location, age of the building, facilities, area, and layout. In particular, when conditions such as "no deposit or key money" and "furnished and equipped" are added, you can live comfortably while keeping initial costs down, but the number of properties to choose from and the conditions tend to vary. Here, we will explain in detail the average rent and characteristics of each type of property, the trends in facilities, and the reasons why they are chosen. Please use this as a reference when searching for a room that suits your budget and conditions.

Areas and conditions for searching for properties under 50,000 yen

Properties with "rent under 50,000 yen," "furnished with furniture and appliances," and "no deposit or key money" are very rare within Tokyo, but they are relatively easy to find in the Johoku area (Kita Ward, Adachi Ward, etc.), Joto area (Edogawa Ward, Katsushika Ward, etc.), and outside the 23 wards (Hachioji City, Tachikawa City, etc.).

In this price range, the area is generally around 15m2, and the layout is mainly one-room or 1K. Most properties have a combined bathroom and toilet, but there are also an increasing number of properties with cost-effective facilities such as city gas compatibility, free internet, and indoor washing machine space. Although they are often a little far from the station, about a 10-20 minute walk away, this offers great benefits for those who want to significantly reduce their initial costs.

Popular properties and facilities in the 60,000 to 80,000 yen range

The most common properties in Tokyo are in the 60,000 to 80,000 yen range. In this price range, you can find many properties within a 5 to 15 minute walk from the station, with floor space of around 20 to 30 square meters. Most of the floor plans are studio, 1K, and 1DK, which are just the right size for a single person to live in.

In terms of facilities, the conditions are excellent, including separate bathroom and toilet, auto-lock, security cameras, delivery box, second floor or higher, corner room, free internet, city gas, etc. In the case of furnished apartments, cooking appliances and storage furniture may be provided in addition to the basic facilities, making it very easy to start living there.

In this price range, there are many properties that do not require a security deposit or key money, so it is important to check the latest information every day using the "Additional Search Conditions" function on the rental housing information site.

Characteristics of properties priced over 90,000 yen and reasons for choosing them

Properties priced at 90,000 yen or more are mostly found along the Yamanote Line and in central Tokyo (Shibuya, Shinjuku, Minato Ward, Chuo Ward, etc.). These areas boast excellent locations within a 1-5 minute walk from the station, and there are plenty of newly built and newly constructed rental apartments. There is a wide range of floor plans to choose from, including 1LDK, 2K, 2DK, and even larger rooms suitable for families.

The facilities are of high quality, with many of the latest models of furniture and home appliances, and are characterized by their excellent design and comfort. Security is also well-equipped with an auto-lock, monitor-equipped intercom, security cameras, delivery lockers, indoor washing machine space, bathroom dryer, motorcycle parking, and more.

The higher rent means that the shared spaces, surrounding environment, and management system after moving in are all well-maintained, so you can live with peace of mind. It is especially popular with people who value convenience and the quality of the facilities, those who do a lot of work from home, and those who want to keep initial costs down but don't want to sacrifice comfort.

Balance of area, layout, and walking distance

When choosing a rental property, it is important to balance the rent, area, layout, walking distance from the station, etc. For example, if you organize your search criteria into specific conditions such as "rent under 70,000 yen, area over 25 m2, within 10 minutes walking distance, furnished with appliances," your ideal property will be easier to find.

In Tokyo, if you value convenience, we recommend a place within a 5-minute walk of the station, but the rent will be higher. On the other hand, if you broaden your search to a place within a 15-minute walk, you will have a higher chance of finding a property that offers reasonable rent and doesn't compromise on size or facilities. Also, if you choose a 1DK or 1LDK floor plan, the rent tends to be higher because of the increased storage space and convenient living space, so it is important to choose a place that suits your lifestyle.

[Q&A] Frequently Asked Questions and Advice

There are many questions about furnished, appliance-equipped rental properties with no deposit or key money, so it is important to gather information beforehand to avoid mistakes. Here we will introduce some frequently asked questions and advice.

Will I have to pay repair costs even if I don't pay a deposit?

Even for properties with no security deposit or key money, there are cases where repair costs are incurred when moving out. Generally, the landlord is responsible for deterioration caused by normal use, but the tenant is responsible for damage or stains caused intentionally or by gross negligence. Be sure to check the scope of the "obligation to restore to original condition" in the contract and important information manual when moving in, and take photos to be on the safe side. Also, if the property comes with furniture and appliances, checking in advance how to handle damage will help avoid any issues.

Is it possible to cancel mid-contract or add/remove furniture and appliances?

The conditions for mid-term termination vary depending on the property, but generally, notice of termination is required 1-2 months in advance. It may be possible to discuss adding or removing furniture and appliances, but permission from the landlord is required. If you want to bring in furniture and appliances or if there is unnecessary equipment, it is important to inquire with the real estate company in advance.

What are the pitfalls of "free internet"?

Even if it says "free internet," there may be disadvantages such as slow communication speeds and congestion due to shared lines. If you need stable communication for teleworking or online classes, check the type of line and speed in advance, and consider preparing to sign up for a separate line if necessary.

Checklist to avoid mistakes when choosing a property

• Does the size and layout of the room match your needs?
• Are there auto-locks and security facilities?
• Walking distance to station and surrounding area (supermarkets, hospitals, bus stops, etc.)
• The contents and condition of the furniture and appliances (new or used)
• Free Internet speeds and terms and conditions
• Separate bathroom and toilet, space for washing machine inside
• Security from a crime prevention perspective, such as living on the second floor or higher or in a corner room
• Contract terms (cancellation fees, renewal fees)
• Whether or not it is compatible with city gas (affects utility bills)
• Soundproofing of neighbors and buildings

In this way, by carefully checking the details and making your selection, you can reduce the risk of failure.

Summary | Make your life in Tokyo more comfortable with no deposit or key money and furnished apartments

By choosing a rental property in Tokyo with no deposit or key money and furniture and appliances included, you can reduce your initial costs and start your new life smoothly. Finally, let's review the key points for finding an apartment without making any mistakes.

Clarify your "preferences"

It's important to first organize your priorities, such as "within a 5-minute walk from the station," "rent under 70,000 yen," "1LDK or larger," etc. When searching for properties, use the "add conditions" function to narrow down your search in detail to make it easier to find your ideal room.

Check the latest information at any time (new listings, details)

Furnished rental properties with no deposit or key money are very popular and tend to fill up quickly. The key is to check the latest information, which is updated daily, and take the initiative to inquire immediately after viewing the details. The key to finding your ideal property is to act quickly.

Choose a real estate company with a solid support system

When you move to Tokyo or live alone for the first time, you may have many worries and questions. By choosing a real estate company that not only provides property information but also has a solid support system for after you move in, you can be confident that any troubles you may encounter after moving in will be dealt with. Be sure to check the support details in advance, including repairs for equipment problems and follow-up on cancellation procedures.

Tips for finding your ideal room

It is important to remember basic points to avoid regrets, such as "don't just choose cheap properties," "don't compromise too much on your conditions," and "always visit the property." Finding an apartment is a big decision that you will only make once in your life, so it is important to gather enough information and make careful considerations.