Word of the Day - January 16, 2019

Koushin-ryou – 更新料 – Real Estate Japan’s Word of the Day

Koushin-ryou

更新料

  • 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”.

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