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LSDefine

Simple English definitions for legal terms

key money

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A quick definition of key money:

Key money is a payment that a new tenant gives to a landlord in exchange for a key to the leased property. It can also refer to a payment made by a prospective tenant to a landlord or current tenant to increase the chance of obtaining a lease in an area where there is a housing shortage. The first type of key money is legal, while the second type is usually illegal and violates housing laws.

A more thorough explanation:

Definition: Key money is a payment made by a new tenant to a landlord in exchange for a key to the leased property. It can also refer to a payment made by a prospective tenant to a landlord or current tenant to increase the chance of obtaining a lease in an area where there is a housing shortage. The first type of key money is legal, while the second type is usually illegal and violates housing laws.

  • When John signed the lease for his new apartment, he had to pay key money to the landlord in order to receive the key to the front door.
  • In some cities with high demand for housing, landlords may ask for key money from prospective tenants in order to secure a lease. This is often illegal and can be considered a bribe.

The examples illustrate the two different types of key money. The first example shows how key money can be a legitimate payment required by the landlord in exchange for access to the property. The second example shows how key money can be an illegal payment made by a tenant to a landlord or current tenant in order to secure a lease. This type of key money is often used in areas where there is a housing shortage and can be considered a form of bribery.

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i cant i would go crazy
JumpySubsequentDolphin
20:50
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JumpySubsequentDolphin
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20:50
yo splitterus are you in school already
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JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
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im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
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JumpySubsequentDolphin
21:34
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JumpySubsequentDolphin
21:35
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JumpySubsequentDolphin
21:35
he has since moved
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i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
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22:25
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JumpySubsequentDolphin
22:39
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JumpySubsequentDolphin
22:45
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