Definition of key money in English:

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key money

noun

[mass noun]
1 informal Money paid to a landlord as an inducement by a person wishing to rent a property.
Example sentences
  • It has been at least a decade since the lease on a building on that pitch in Bond Street came on the market and it is the only location in London that would achieve key money of that amount.
  • However, if the owners pay their taxes, then key money is fine as far as the Revenue Office is concerned.
  • Everyone who has ever been asked for key money has pondered the same questions.
1.1British A payment required from a new tenant of rented accommodation in exchange for the provision of a key to the premises.
Example sentences
  • You don't have to fork out any hefty deposits or key money either, which is nice.

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