key money

American  

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.

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key money British  

noun

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

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Etymology

Origin of key money

First recorded in 1895–1900

Example Sentences

See Examples For:

key money

To tease out key money lessons, we talked to a few leaders in the financial world about their best takeaways.

From Reuters ● Mar. 20, 2023

“Without a lease, the tenant has nothing - so they pay what’s called key money or they pay something.”

From Reuters ● Aug. 4, 2020

The president added: “It’s a little bit like the landlord-tenant. Without a lease, the tenant has nothing. So they pay what’s called key money or they pay something.”

From Washington Post ● Aug. 3, 2020

“We are absolutely shocked at the key money changing hands,” said Helen Franks, Grosvenor’s head of commercial and retail leasing in London.

From BusinessWeek ● Apr. 13, 2011

The G.I. gets his "key money" back at the end of his tour by selling the hooch, complete with furniture and moose, to an incoming soldier.

From Time Magazine Archive