Rent Guarantor Cost for an Apartment in Sapporo
As part of our series on Renting an Apartment in Sapporo, we will share what you need to know about an apartment guarantor company in Sapporo.
What is a Guarantor Company for Rent
When you’re renting an apartment in Japan, it is common that the owner of the property will want a “guarantee” that the rent will be paid (in the United States, they would call this a co-signer). A guarantor for property is usually a person; could be a relative. In some cases, your employer can act as your guarantor when you rent an apartment. In some parts of Japan, you can pay a company to act as your rent guarantor.
A guarantor is a little bit like an insurance policy for the owner of that property; a guaranteed that they will be able to collect rent; in this case, you have to pay for that “insurance.”
Rent Guarantor Fee
As a part of renting a Sapporo apartment, your agent can help you understand the process. Paying for a Sapporo guarantor company is part of the cost of moving into an apartment in Hokkaido.
The cost you pay to the guarantor company is related to the monthly rent. You will pay a somewhat larger fee when you first move in. And then, if you pay your rent and there are no problems, you’ll pay a smaller fee to renew the contract each year.
How Much Does a Guarantor Company Cost
For example: Let’s say you’re renting an average prices apartment in Sapporo for approximately ¥50,000 per month. There is a management fee as part of your monthly costs of ¥2500 per month. That total for rent and management fee (in this example) is ¥52,500. The price your pay the rent guarantee company is approximately 30-70% of that total, so perhaps between ¥15,750 and ¥36,750. This is due before you move in, as a part of your costs to move into an apartment in Sapporo. You pay this fee one time. And then, the following year, you pay a smaller fee to renew the contract, perhaps ¥5000 to ¥15000 (10% to 30% of your monthly rent). That renewal fee covers the entire year (it is not a monthly payment).
The process to rent an apartment in Sapporo can be a little more complicated than other countries. There are several fees due at move in. We review all of the costs, and provide an example that shows all apartment move in costs for Sapporo in our earlier post.
While the process can be a little complicated, all of the details will be explained to you by your agent as your sign a lease for a Sapporo apartment.
An Agent Will Help You Undersand the Move-in Costs
When you’re ready to find an apartment in Sapporo, contact us. We can introduce you to several agents that can help you find the right neighborhood, explain the fees and move in costs, and maybe help you negotiate lower rent or better terms for renewal. When you’re ready to get started, let us know, we’re happy to help.
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For More Information:
— Local Sapporo Real Estate Agents
— Details on How to Rent An Apartment in Sapporo
— Some details on Move-In Costs for a Sapporo Apartment
— Our List of Sapporo Neighborhoods (Sapporo Wards)
— International Schools in Sapporo
— Find Lawyers in Hokkaido
— Our Taxes in Japan page
— Buying Property in Hokkaido as a Foreigner