How to Find No Key Money Apartments in Tokyo (Reikin Nashi)

Published August 28, 2026 | Kurabeel

Key money (礼金, reikin) is the line on a Japanese move-in estimate that foreigners find hardest to accept: usually one month's rent, paid to the landlord as a gift, never refunded. On a ¥130,000 apartment that is ¥130,000 gone for nothing tangible.

The good news is that the custom is fading. A large share of Tokyo listings now advertise 礼金なし (reikin nashi) — no key money at all. This guide covers how to find them, where they cluster, and what to check before assuming you have found a bargain.

The Japanese terms you need

Portals are searchable in Japanese even if you read little of it. Copy and paste these:

On SUUMO and HOME'S, "礼金なし" is a standard filter checkbox rather than something you type into the keyword field — look for it in the こだわり条件 (detailed conditions) panel.

Where no-key-money listings cluster

• Large managed buildings — corporate landlords prioritize occupancy rate over one month of key money
• Newly completed buildings still filling up — an empty new building is an expensive building
• Areas one or two stops beyond the fashionable ones — think Nakano over Koenji, Oyama over Ikebukuro
• Buildings 15–25 years old in otherwise good locations
• The off-season — May to August, and November to December

Conversely, a renovated flat two minutes from a Yamanote line station in February will have key money, and the landlord has no reason to drop it. Timing matters as much as location; see the best time to rent in Tokyo.

Check the trade-offs before celebrating

Landlords are not charities. When key money disappears, the money sometimes reappears elsewhere. Look for these before you apply:

Can you negotiate key money away?

Sometimes — but only under the right conditions, because key money belongs to the landlord, not the agency. Your odds improve when:

• The room has been listed for more than a month
• You are applying in the off-season
• Your application is strong (stable employment, no guarantor problems)
• You can move in quickly — landlords value speed over the last ¥100,000

Ask through your agent, before you apply, and ask for one thing rather than three. "Would the landlord consider waiving key money if I can move in by the end of the month?" works better than a list of demands.

The easier saving most people miss

Key money requires the landlord's agreement. The agency fee — another full month plus tax — requires nobody's agreement at all. It is set by the agency, and most Japanese listings can be handled by more than one agency.

Signing the same apartment through an agency paid by the landlord instead of by you removes that month entirely. No negotiation, no awkward conversation, identical contract. Full detail in the agency fee explained.

Combine both and a ¥120,000 apartment can go from roughly ¥600,000 to under ¥350,000 to move into. That is the difference between delaying a move and making it.

A realistic search plan

1. Filter for 礼金なし on your chosen portal, and set your commute limit rather than a neighborhood
2. Shortlist 5–10 rooms and note the rent of comparable units nearby
3. Send the URLs to an agency that offers a ¥0 agency fee and ask for itemized estimates
4. Compare two-year totals, not move-in totals
5. Check the cancellation penalty and cleaning clause before applying

* The agency fee is as low as ¥0. Listings for which the landlord pays no advertising fee (AD) may not qualify. We always confirm the exact amount in a written estimate before you sign.