Usually what happens is the larger (or longer) the key money deposit you make the cheaper the monthly rent you pay. If you make a large enough deposit then you don't have to pay rent. You would have to negotiate on the amounts but you should get all your deposit back........ unless your landlord is a crook.
For a situation where you are paying no rent I'm assuming your deposit would have to be much larger than 7mil. If you think about it whatever your not paying in rent the landlord needs to be making from investing your deposit.
To give you an idea I was offered a 50,000w discount in my monthly rent for every 5 000,000w extra I deposited for 1year. I don't know if that's representative of how things usually happen but it was what I was offered. I turned it down.
Awesome, thanks for your feedback, it makes a lot of sense. I'd been told that and American and his wife in my city paid 9 Million and only had to pay 300 K a month in rent. So in my rather naive (optimistic) thinking I thought maybe I could get away with paying around 12 Million and I'd get free rent for the year hehe.... Then I'd just pocket the housing allowance of 400 K
I was just told yesterday from a fellow NET that she has to leave her large apartment because the POE will not pay more than 5 Million key money in my province. The key money in her apartment is going up to more than that when her current contract expires, so she's looking for somewhere else to live.
But I'll give it a crack anyway, I like that you said it's all down to negotiation. My current landlord is an awesome old dude, the best landlord by far out of the four I've had in this country. So I'll just ask him when the time comes. Maybe we can come to some sort of compromise whereby I pay him a semi-decent amount upfront and maybe only 200 K or so a month.
With the exchange rate the way it is (I'm from NZ), I won't be sending a lot of money back home for the foreseeable future anyway, so I might as well use it here.