Glossary
Reikin (key money)
Reikin is a non-refundable 'gift' to your landlord at lease signing, typically one to two months' rent, for which you get nothing back.
Key money is a one-time payment to the landlord — not the agent, not a deposit — that you never see again. It's a custom rooted in postwar housing scarcity with no economic justification in today's market, which is exactly why it's increasingly negotiable. Typically it runs one to two months' rent, and unlike shikikin (the deposit) none of it is returned when you move out. The practical insider move: filter listings for reikin nashi (zero key money), which are common in newer buildings and softer rental markets, and treat any reikin as a line item to push back on. In a landlord's market for a popular unit it may not budge; for an average unit sitting on the market, it often does.