Life House Hunting
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Security Deposit (Japanese: 敷金 Shikikin)
Security deposit is one of the initial costs and is money deposited in advance to the landlord. The security deposit is used for cleaning and repairs of the room upon moving out, and any surplus amount is refunded. In case of rent arrears, it may also be used for this purpose.
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Key Money (Japanese: 礼金 Reikin)
Key money is another initial cost and is a token of gratitude to the landlord for allowing the tenant to rent the property. Key money is primarily used by the landlord when recruiting tenants. Unlike the security deposit, key money is non-refundable.
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A Guarantor (Japanese: 保証人 Hosyonin)
A guarantor is a person who becomes obligated to pay the rent in case the tenant fails to do so. When the tenant fails to pay the rent despite multiple reminders, the guarantor steps in to make the payment.
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A Joint Guarantor (Japanese: 連帯保証人 Rentaihosyonin)
A joint guarantor has even greater responsibility than a regular guarantor, sharing equal responsibility with the tenant. They are not only responsible for the rent but also for cleaning and repairs of the property. Moreover, in the case of rent arrears, the landlord can demand payment from the joint guarantor without issuing reminders to the tenant.
