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  4. Are Zero-Deposit, Zero-Key-Money Apartments Really a Good Deal? — A Complete Guide to Cost Comparison and Hidden Risks
Costs & Finances

Are Zero-Deposit, Zero-Key-Money Apartments Really a Good Deal? — A Complete Guide to Cost Comparison and Hidden Risks

2026-04-18

Zero-deposit, zero-key-money apartments (0/0 properties) can significantly reduce your upfront costs. However, rent might be higher than market rates, and unexpected fees may arise when you move out. We explain the right way to compare and what to watch out for.

Are Zero-Deposit, Zero-Key-Money Apartments Really a Good Deal? — A Complete Guide to Cost Comparison and Hidden Risks
#Security Deposit#Key Money#Zero Deposit Property#Initial Costs#Cost Comparison
森

Reviewed by: Nobuyuki MoriPresident, M-Assets Co., Ltd. / Licensed Real Estate Transaction Specialist (Miyagi #018212)

Table of contents

  1. 01What Are Zero-Deposit, Zero-Key-Money Apartments?
  2. 02Understanding How Zero-Deposit, Zero-Key-Money Apartments Work
  3. 03Main Advantages of Zero-Deposit, Zero-Key-Money Apartments
  4. 04Main Disadvantages and Cautions for Zero-Deposit, Zero-Key-Money Apartments
  5. 05How to Calculate Costs for Zero-Deposit, Zero-Key-Money Apartments
  6. 06Key Points to Verify Before Signing
  7. 07Summary: Cost Comparison Is Essential for Zero-Deposit Apartments

What Are Zero-Deposit, Zero-Key-Money Apartments?

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"Zero-deposit, zero-key-money" apartments advertised as "0/0 properties" appear at first glance to be great deals that significantly reduce your upfront costs. However, you can't say that all zero-deposit, zero-key-money apartments are truly good deals.

In this article, we explain in detail how zero-deposit, zero-key-money apartments work, their actual cost structure, their pros and cons, and what to watch out for when choosing one.


Understanding How Zero-Deposit, Zero-Key-Money Apartments Work

In traditional rental contracts, it was common to pay security deposits (one to two months' rent) and key money (one to two months' rent) as upfront costs. With zero-deposit, zero-key-money apartments, these are no longer required, so move-in expenses are significantly reduced.

However, there are mainly two types of zero-deposit, zero-key-money apartments.

Type ①: A Truly Good Deal

When a property has been vacant for a long time or the landlord wants to fill it quickly, they may waive the security deposit and key money to attract tenants. In this case, it's purely a benefit for the renter.

Type ②: Recovering Costs Under Different Names

When the rent itself is set higher than market rates, or monthly "guarantor fees" or "maintenance fees" are added on top. When you calculate the total amount you pay, it can end up being higher than a standard apartment.


Main Advantages of Zero-Deposit, Zero-Key-Money Apartments

Significantly Reduced Upfront Costs

Compared to apartments with two months' security deposit and one month's key money, if the rent is ¥70,000, you save ¥210,000. Being able to reduce a large upfront expense during a move is a major advantage.

Lower Barrier to Moving

With employment changes, transfers, or sudden life changes, it becomes easier to make a move quickly when needed.

No Risk of Security Deposit Disputes

With no security deposit, you won't face disputes over the deposit settlement when you move out (however, be aware that move-out cleaning or repair costs may be charged separately).


Main Disadvantages and Cautions for Zero-Deposit, Zero-Key-Money Apartments

① Rent May Be Higher Than Market Rate

Compare the rent with similar properties in the same area and with the same conditions. If the rent is ¥5,000 higher per month, that's ¥120,000 more over two years. Even with zero deposit and key money, your total cost could be higher.

② Risk of Being Charged Full Restoration Costs at Move-Out

With zero-deposit apartments, you may be charged the full cost of cleaning and repairs when you move out. Depending on the condition of the apartment during your tenancy, unexpected expenses can occur.

③ Early Termination Penalties Are Often Included

Many zero-deposit apartments include clauses like "early termination within one year results in a penalty of one to two months' rent." This is especially important to note if you might need to relocate due to a job transfer or other reasons.

④ Property Condition or Amenities May Be Inferior

If the property is zero-deposit because it's been hard to fill, there may be issues with location or amenities. Ask the property manager why the property is zero-deposit.


How to Calculate Costs for Zero-Deposit, Zero-Key-Money Apartments

To determine whether a zero-deposit, zero-key-money apartment is truly a good deal, compare using the following method.

Step ①: Compare Rent with Standard Apartments in the Same Conditions

Compare the rent with standard apartments (requiring two months' security deposit and one month's key money) in the same area and with the same conditions.

Step ②: Calculate Total Costs Over Two Years

Compare the initial costs plus monthly costs (rent + maintenance fee + guarantor fee) multiplied by 24 months for both options.

Step ③: Consider Move-Out Costs

If the contract specifies that you'll bear cleaning costs, key exchange fees, etc., add those amounts to your calculation.

By doing this calculation, you can avoid the pitfall of "appearing to be zero-deposit but actually costing more overall."


Key Points to Verify Before Signing

When considering a zero-deposit, zero-key-money apartment, be sure to check the following:

  1. Compare rent with similar properties nearby (Is it within market range?)
  2. Confirm the breakdown of monthly maintenance and guarantor fees (Are there hidden costs?)
  3. Read the contract terms about move-out costs (Who pays for cleaning?)
  4. Confirm whether early termination penalties exist and their amount
  5. Verify the building age and condition of amenities during a viewing

Summary: Cost Comparison Is Essential for Zero-Deposit Apartments

Zero-deposit, zero-key-money apartments are attractive because they reduce upfront costs, but "zero doesn't always mean a good deal." What matters is comparing the total cost from move-in to move-out.

Ask the property manager honestly "why is this zero-deposit?" and carefully verify the difference from market rent rates and who pays move-out costs before making a decision. Rather than jumping at low upfront costs, choosing a property based on long-term cost considerations is the first step to smart apartment renting.

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