- English definition: Renewal fee for a lease.
- In Japan, a lease renewal fee is sometimes included in a rental contract. This obligates the tenant to pay a fee in order to extend (renew) the leasing agreement. Regular leases in Japan have a two-year term, after which time, you have the option to renew your lease.
- The average lease renewal fee is one month’s rent.
- Once you sign a contract stating that a lease renewal fee is required, you are legally bound by it. If you think that you might want to stay in your apartment for longer than two years, try to negotiate with the landlord before you sign the contract to have the lease renewal fee removed. Please see this article for details: Renting in Japan: Do I really have to pay a lease renewal fee?
Good to know
- The kanji 料 is read “ryou” and means “fee”.
Relevant Links and Articles
You may also be interested in:
- How big is a six tatami-mat room? See: Guide to Japanese floor plans with photos and kanji
- MLIT’s 2018 Kijin Chika Standard Land Price: Summary and Analysis
- Checklist for renting an apartment in Japan
- Upfront costs of renting an apartment in Japan
- Avoiding hidden costs when renting an apartment in Japan
- Investing in Tokyo Real Estate – January 17, 2019 seminar for beginners
- How to sell property in Japan: Is 2019 the time to sell? – January 31, 2019 seminar
- Top 10 Stations for Foreigners Buying Property in Japan – For October, 2018
- Before you rent out your investment property in Japan, here’s what you need to do
- Loans to buy property in Japan from overseas
- List of English Speaking Real Estate Agents in Japan – Searchable list of bilingual and multilingual (Japanese, English, Traditional Chinese, Simplified Chinese) real estate agents in Japan
- Buying your dream home in Japan – Your FAQs answered by a local real estate consultant
- Tokyo real estate – Current for sale listings
- Osaka real estate – Current for sale listings
- Aichi real estate – Current for sale listings
- Hokkaido real estate – Current for sale listings
- Okinawa real estate – Current for sale listings
- Can a foreigner buy property in Japan?
- Guide to Japanese real estate taxes
- How to claim tax deductions when you buy a home in 2019
- Which banks lend to foreigners to buy property in Japan?
Lead photo: via Sumarepi.jp