If I rent out my house in Japan (Hyogo), how much do people have to pay in key money, security deposit, and any other fees upfront, aside from monthly rent?
How much is paid to the real estate agent, and by whom?
What is negotiable and what is not?
Are any of the amounts paid typically higher for foreigners in Japan?
How hard it is for a non-resident, and a foreigner, to rent in Osaka and in the suburbs? I am thinking of targeting foreigners as tenants.
4 comments
The key money part is really just how much of an asshole you want to be.
It’s up to you.
Key money: 1-2 months, probably start with 2 and negotiate to 1-1.5.
What is a non resident foreigner? Are you looking for short term renters? Just do Airbnb or something…
Rent wise how much are you looking for?
It’s a bit of a stereotype but most mid/long term foreigners in kansai are cheapskates, so it might be a mistake to focus on them. I would just let the agent handle whoever the best possible tenant is.
If your place is nice/desirable area then looking for expats on short (1-3 year) stints could be good as usually their companies pay rent…but then you have to deal with finding new tenants somewhat often.
I have 2 friends who rent out houses and apartments, one I rented from for about 3 years. They don’t charge key money and there is no real estate company involved. They only require about 2 months rent and give part or all back if the house is ok. They place ads in on line sources like Craigslist.
I hate this key money tradition here. Let me give you even more money for the honor of living in your house. If you want more money, just raise the rent. Key money needs to die.