What is Key Money?
Key money is landlord or property owner in order to reserve a as a tenant on the property.paid to a
How Does Key Money Work?
Let's say Company XYZ is a restaurant firm that wants to open a location in the new ABC outdoor mall. The mall is under construction, but Company XYZ likes the location and the demographics of the surrounding population, so it writes a $5,000 check to the ABC. This "gets the keys" and reserves a for Company XYZ.
Why Does Key Money Matter?
Key money is essentially a security, but in many cases it is a payment to persuade the to rent property to a tenant. For this reason, many people consider key money to be pretty much a bribe.
Personalized Financial Plans for an Uncertain Market
In today’s uncertain market, investors are looking for answers to help them grow and protect their savings. So we partnered with Vanguard Advisers -- one of the most trusted names in finance -- to offer you a financial plan built to withstand a variety of market and economic conditions. A Vanguard advisor will craft your customized plan and then manage your savings, giving you more confidence to help you meet your goals. Click here to get started.
Read This Next
There's a reason why you hire a real estate agent -- they're experts at selling homes! They're better informed on...Read More →
There's an overwhelming sense of chaos when investors first realize they're in the middle of a bear market. Here's how to make a bear market work for you. Take a Deep Breath...Read More →