Property Management Hints and Tips from Japan

Delivering Japanese Real Estate Information and More!

Living in Japan Real Estate Investment

Solution to Limited Storage

投稿日:2019-09-19 更新日:

Storage is one of the most important factors being considered when looking for housing. Renovating a Japanese-styled wardrobe into modern closet, installing shelves and organizers to make storage more useful are ways to improve apartments’ value.

However, for rooms that are too small or with unique shapes preventing them from installing storage space can consider placing storage ”outside”.

Japanese Style Closet

Modern Closet

 

Rental Storage at Common Area

Following the rules of land-to-building ratio, it is possible to utilize the empty space in your property to install ”rental storage”.

For instance, it costs 500,000JPY to install five 1 m2 storage. Ideally, with the additional value of storage, owners can expect an increase of monthly rent by 2,000JPY from each tenant. In this case, annual profit increases by 120,000JPY and the break-even point will be after 4 years approximately.

On the other hand, even if monthly rent was not increased, the installation of storage contributes to tenant retention and prevents value deflation of the property.

Cloud Storage

Storage Warehouse

If pysical aspects of your apartment do not allow you to install extra storage, ”cloud storage” is the solution.

Cloud storage is a service that users store their belongings at provider’s warehouse. Users can manage their belongings via smart phone application, and derive specific items when needed.

Fee varies depending on the provider but usually costs around 200~300JPY each month for one box.

For instance, owners can bear the cost of cloud storage (ex. up to 1,000JPY) providing extra storage to tenants. This can reinforce the value of the property and may lead to monthly rent increase.

The lack of storage in apartments is an obstacle to many; it may be a good idea to consider the above options.

 

-Living in Japan, Real Estate Investment
-,

執筆者:


comment

Your email address will not be published. Required fields are marked *

CAPTCHA


関連記事

2020’s Major Events and Real Estate Trend – Civil Law Amendment, digital innovation, etc…

Japan has entered a new era – Reiwa. Below are some of the major events that happened in the real estate industry.   Civil Law Amendment in Real Estate The civil law amendment in April this year is getting the spot light in the real estate industry. One of of the major changes that will take place is the regulation regarding lease guarantor.   ・An upper guarantee amount must be set for a personal lease guarantor ・In case the lessee or guarantor passed away during the lease period, the principal amount will stop during the time of death.   …the …

Miyako Island – the Next Up-and-Coming City for Real Estate Investment

Miyako Island is part of Okinawa Prefecture that is located Southwest of Okinawa and East of Taiwan. It has an area of 158.87  km2  and a population of approximately 51,000 people. In Miyako Island, you can find stunning coastal line and extraordinary ocean view. With that being said, inbound tourism has been increasing in the past few years and the demand of hotels and housing has also increased correspondingly. Airport In Miyako Island In 2017, Mitsubishi Real Estate Services Co., Ltd. (refer to Mitsubishi below) started a renovation project on Shimoji Airtport in Miyako Island to stimulate the tourism industry. Shimoji …

Property For Sale【June’s Pick】- Condominium in Tokyo’s Prestigious Area

Today’s property for sale features single condominium units in Tokyo’s most prestigious areas! Imagine living in the heart of Ginza where it only takes you a 8-minutes-walk to Kabukiza Theatre. Or waking up with a gorgeous view of both Tokyo Tower and Skytree. Besides single family homes and low rise apartments, high rise condominium can also be found in Japan, especially in the most easiest accessible areas of Tokyo. Below are some pickups of condominiums for sale! While some of them are still under construction, some are occupied with tenants.  They can be purchased for self-use or investment. Click to download …

Is a Written Contract Necessary?

In a lease contract, both parties agree on the written terms and conditions and both pledges to follow these written rules. However, is a ”written contract” indeed necessary? A lease contract is effective upon mutual consent even without any written instrument Property management company A is about to sign a sublease contract on a parking lot of 10 spaces with one of their customers. It turns out that the landlord only holds the written agreement of 9 of the spaces. One of the parking spaces was passed to the landlord with an oral contract. This is referred to consensual agreement. …

Private Lodging in Japan

Tokyo became one of the fastest growing markets for private lodging with the lack of hotel availability in Japan and the increase of inbound tourists. In popular areas of Tokyo, tourists have to make their reservation 6 months ahead of their trip. Seeing the gap in supply and demand of accomodation, many property investors shift from traditional rental to vacation rental. Vacation Rental Industry and Private Lodging The vacation rental industry has existed since decades ago. It is a type of renting where travelers temporary stay in a furnished house or apartment in alternative to hotels. These apartments can be runned by professional …