View as quickly as you can
The real estate market in Tokyo is moving very fast. Listings available today are likely taken within two or three days, sometimes in just one day. The better the listing, the sooner it will be gone. AtHearth recommends you to go apartment viewing ASAP before they are taken.
In this fast-moving seller’s market, customers who move in as soon as possible achieve the best results. We know that your current apartment requires you to give them a 1-month notice before you move out, but most of the landlord requires the potential tenants to move in no later than 2-3 weeks after you have applied. Given that, 1 month before your desired move-in date would be the best time to start apartment-hunting, we think.
If you want to live in a nice apartment in Tokyo, it’s inevitable to pay a key money fee. There are no-key-money apartments out there, but you will notice their rents tend to be set a bit higher than average. Rule of thumb is that most apartments in good condition will require a key money fee. If you are only looking for an apartment without key money fee, you are limiting your options in finding an attractive apartment. In addition to the key money, there is usually a refundable deposit, guarantor fee (normally it’s 50% of the rent), and the agent fee -- those are the fees you will have to pay prior to moving in. So, how much does it really cost when you move into your new apartment? Roughly 5-6 times the rent, depending on what time of the month you move in. We also need to let you know that most real estate management companies don't accept credit card payment for those fees.
From 1-8 is what the process looks like from the moment you submit your inquiry to your move-in date.
Once you have submitted your application, it will be reviewed by 3 different parties to make sure that you are a suitable person to rent out their property. They are: (1) The property management company (2) The guarantor company (3) The landlord.
Many landlords/guarantor companies require you to earn more than 3 times the rent to be eligible. For instance, on a 400,000 yen/month salary, the most rent you could afford would be 130,000 yen/month!
They will also call you for the quick survey, and unfortunately, not many of them speak English. Not being able to speak Japanese does not mean that you cannot find an apartment, but it does change the number of listings you can reach in the market.
Living with friends
There are only a few apartments that allow the tenants to live with their friends. Most landlords are worried about one of them moving out unexpectedly and leaving the other unable to pay rent. If the main contractor could meet the income rule as we showed before, we may be able to negotiate with the landlord about it.
Living with pets
There are also very few listings that allow pets. Please be noted that most apartments that allow pets require a relatively larger sum for the refundable deposit.