key money


noun

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

Origin of key money

First recorded in 1895–1900

Example sentences from the Web for key money

British Dictionary definitions for key money

key money

noun

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