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Key Money & Deposits: What They Actually Cost You

If you're apartment-hunting in Japan for the first time, two line items on the estimate will stop you cold: reikin and shikikin. Neither is a scam — but neither is optional at most properties, either. Here's what they are, what they cost, and how to avoid paying them at all.

Reikin (礼金) — "key money," and it's gone for good

Reikin is a lump-sum payment to the landlord, traditionally described as a "thank you" for renting you the unit. It is non-refundable — you will never see it again, whether you stay one year or ten. The typical amount is 1 month's rent, though it can run to 2 months in popular areas or during peak season (January–March).

There's no equivalent in most Western rental markets, which is exactly why it catches newcomers off guard. It's a cultural holdover from a landlord's-market era, and while it's fading in some regions, it's still standard across most of Tokyo.

Shikikin (敷金) — a deposit, and you might get some back

Shikikin is a security deposit, typically also 1 month's rent, held against unpaid rent or damage beyond normal wear. Unlike reikin, it's partially refundable — but "partially" is doing a lot of work in that sentence. Landlords routinely deduct standard cleaning and "restoration" (genjo kaifuku) fees before returning what's left, and disputes over these deductions are common enough that it's worth photographing the unit's condition on move-in day.

Add it up: a typical move-in bill

Item	Typical cost	Refundable?
Reikin (key money)	0–2 months' rent	No
Shikikin (deposit)	0–2 months' rent	Partially
Agency fee	~1 month's rent + tax	No
Guarantor company fee	0.5–1 month's rent	No
Fire insurance	¥15,000–20,000	No

Total upfront cost on a standard lease commonly reaches 4.5–5 months' rent before you've moved a single box.

How to skip reikin and shikikin entirely

The good news: an entire category of housing in Tokyo is built around not charging these fees.

"Zero-zero" apartments — listings explicitly marketed as zero deposit / zero key money exist, but they're a minority of standard listings and require active searching.
Furnished apartments — many furnished/monthly-style units are priced with no reikin or shikikin at all, since the operator is optimizing for fast turnover, not long-term key money income.
Share houses — this is where zero-zero is the norm rather than the exception. Most share house operators charge a small deposit (if any) and no key money whatsoever.

オークハウス（Oakhouse）

One of Japan's largest operators of furnished housing. Private-room and apartment-type units combine low move-in costs with the comfort of your own space — no key money, no deposit at most properties.（Furnished private rooms / No guarantor）

Browse furnished rooms →