key money

noun

1. advance rent or security required of a new tenant and given in exchange for the key to the house or apartment.
2. an amount of money paid, often secretly, to a landlord, superintendent, or current tenant by a person desiring future tenancy.

key money

noun

1. a fee payment required from a new tenant of a house or flat before he moves in

Word History and Origins

Origin of key money¹

First recorded in 1895–1900

Example Sentences

This form of currency is developed from what is generally termed "key-money" or "knife-money."

From Project Gutenberg