NEWS

The Japanese rental housing market may come as a series of surprises to those who are new to living in Japan. Rent, security deposits, key money, and the mysterious "renewal fee" are all components of this market. Today, we'd like to focus particularly on the intriguing "renewal fee".

So, what exactly is a renewal fee? Well, it's a fee that landlords charge tenants when renewing a lease agreement. In other words, it's incurred when extending an existing contract. This fee is meant to cover the costs of creating a new lease agreement, conducting property inspections, and covering administrative expenses.

For people who are new to living in Japan, the existence of this renewal fee might come as a bit of a surprise. That's because in many countries, such fees are not common. However, it's a standard practice in Japan.

What's even more surprising is that the amount of the renewal fee can vary significantly depending on the terms of the contract and the region. Generally, it's around one month's rent, but in some cases, it can be even higher. Therefore, it's important to be aware of this when renewing a contract.

If the renewal fee is not included in the contract, you're not required to pay it. When entering into a lease agreement, it's also important to check whether the payment of a renewal fee is specified and how much it is.

While the Japanese rental housing market offers a variety of interesting elements, the renewal fee is particularly noteworthy. When renewing a contract, it's essential to deepen your understanding of the renewal fee and thoroughly review the contract to protect your rights.


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