Renting in Tokyo: key money, guarantors and flats

Monthly rent in Tokyo can look cheap if you've just left Sydney. The move-in bill is where Tokyo gets you.

The short version

Plan on paying roughly four to seven months' rent up front once deposit, key money, agent's fee, insurance and the first month are added together [1].
Key money (reikin) is a non-refundable thank-you to the landlord, commonly one or two months' rent in the Tokyo region [1].
You'll almost always need a guarantor. Most foreigners use a rent guarantee company, typically costing 35% to 50% of a month's rent for two years [1].
Small single flats (up to 30 m²) in the 23 wards are at record advertised rents, with the central wards around ¥130,000 a month and the cheapest outer wards nearer ¥80,000 in recent At Home data [2][3].
Standard leases run for two years and renew automatically, often with a renewal fee written into the contract [1].

How the Tokyo rental market works

Most Tokyo renters go through a real estate agent (fudosan), who shows you listings, arranges viewings and handles the application to the landlord or management company. The agent's fee is capped at one month's rent [1].

The flats themselves are classified by floor area and layout. A 1R is a single room with a kitchenette, a 1K has a separate small kitchen, and a 1LDK adds a living-dining-kitchen space. Sizes are shown in square metres and, in older listings, in tatami mats.

Rent is climbing. At Home's September 2026 survey found advertised rents in the 23 wards were higher than a year earlier across all categories, and rents for small single apartments had set records for 17 months in a row [2]. Tokyo Kantei's data showed condominium-type rents in Tokyo up 15.1% year on year in November 2025, the highest since it started reporting in 2004 [4]. Expect competition, especially in the February to April moving season when Japanese companies and universities start their year.

Who rents to foreigners

Not every landlord will. Some listings are restricted, and a foreign name or limited Japanese can mean a polite no. Agents that specialise in foreign tenants, furnished serviced apartments and share houses are the usual workarounds. Local governments know this is a problem: Shinjuku City, for example, points foreign residents to a multilingual Apartment Search Guidebook and to housing consultation services [5].

What it costs to move in

Here's what goes on the bill for a typical regular lease, based on the Apartment Search Guidebook for foreign renters published on the Ministry of Land, Infrastructure, Transport and Tourism website [1].

Item	What it is	Typical amount
Security deposit (shikikin)	Held against unpaid rent or damage, partly refunded at move-out	Guideline of about 2 months' rent
Key money (reikin)	Non-refundable payment to the landlord, common in the Kanto region	Usually 1 to 2 months, sometimes none
Agent's fee	Paid to the real estate agent	Capped at 1 month's rent
Guarantee company fee	Covers the landlord if you don't pay	Often 35% to 50% of a month's rent for two years
Insurance, first month's rent, common service fee	Fire or contents insurance plus advance rent	Varies
Total		Roughly 4 to 7 months' rent

On a ¥100,000 flat, that's somewhere between ¥400,000 and ¥700,000 before you've bought a fridge. Many unfurnished Japanese flats come without a fridge, washing machine, curtains or light fittings, so budget for those too.

Ways to cut the up-front bill

Look for "zero-zero" listings with no key money and no deposit. They exist, but check the contract for a higher cleaning fee or a short-stay penalty.
Try UR Rental Housing. These are flats run by the government-affiliated Urban Renaissance Agency. Foreign nationals with a qualifying residence status can apply, subject to an income standard [6].
Start in a share house or serviced apartment. Higher monthly cost, but little or no key money and the bills are bundled in. Handy while you wait for your first payslip.

Which ward, what rent

Rents vary a lot across the 23 wards. These are At Home's advertised averages for small single flats of 30 m² or less in May 2025, the most recent ward-by-ward breakdown we could check [3]. Rents have kept rising since, with the 23-ward average for this size reported at about ¥112,000 in March 2026 [7], so treat these as a floor.

Ward	Feel	Small flat, May 2025
Chuo	Ginza, Tsukiji, high-rise living by the water	about ¥131,000
Minato	Embassies, Roppongi, Azabu, corporate expats	about ¥130,500
Shibuya	Ebisu, Daikanyama, nightlife and start-ups	about ¥128,400
Setagaya	Shimokitazawa, Sangenjaya, family streets	about ¥114,400
Nakano	Chuo Line, Nakano Broadway, quick to Shinjuku	about ¥95,700
Suginami	Koenji and Asagaya, live music and second-hand shops	about ¥92,100
Edogawa	Riverside, east of the city, more space for less	about ¥80,900

Two things the averages hide. First, distance from the station matters more than the ward: a flat 15 minutes' walk from a station is noticeably cheaper than one at the gate. Second, older buildings are cheaper, but check the insulation. Tokyo winters are colder than Sydney's, and an old wooden flat can be chilly.

If you're comparing these numbers with what you paid at home, our cost of living in Tokyo guide puts them side by side with Sydney and Melbourne.

Step by step: from search to keys

Get your residence card and phone number sorted. Agents and guarantee companies will ask for them. Our moving to Tokyo guide explains the order.
Shortlist a rail line, not just a suburb. Work out your commute first.
Contact two or three agents. Ask directly whether a listing accepts foreign tenants before you view it.
View, then apply quickly. Good flats go fast in the spring moving season.
Pass screening. Expect to provide your residence card, proof of income or an employment letter, and an emergency contact. The guarantee company will screen you too [1].
Read the contract carefully. Check the lease type, renewal fee, notice period and any cleaning or restoration charges [1][6].
Pay and inspect. Photograph every scuff on move-in day. A dated record makes deposit disputes much easier [1].
Register your address. Take your new address to the ward office within 14 days of moving in [8].

The rules nobody tells you

Two kinds of lease

A regular rental agreement is standard in Japan. It usually runs for two years, and the landlord can't refuse renewal without good reason. A fixed-term lease ends on the date in the contract and only continues if you both sign a new one [1]. Fixed-term leases are common in furnished and corporate flats, so check which one you have.

Renewal and leaving

At renewal you may owe a renewal fee if the contract says so [1]. To leave, you normally give one to two months' notice, and you should tell your electricity, gas and water companies at least a week before you go [1].

Getting your deposit back

You pay for damage caused by your own carelessness, which comes out of the deposit, and anything over the deposit is billed to you [1]. Normal wear and tear shouldn't be. Your move-in photos are your best friend here.

Living like a local

Rubbish is sorted by type and put out on set days, and your ward will give you the schedule. Noise travels in light-framed buildings. Shoes come off at the door, which is why every Tokyo flat has a little step at the entrance.

Get help when you need it

If something feels off, ask your ward's foreign resident consultation service before you sign [5]. For real-world tips on agents that rent to foreigners, ask in Cooee Japan, our Facebook group for Australians in Japan. Someone has probably already signed with the agent you're about to call.

Still paying a mortgage or renting out a place back home? Our guide to renting out your home while you live abroad covers the loan and tax basics.

Renting in Tokyo: key money, guarantors and what Australians pay to move in