The complete process that a Tokyo homeowner goes through when renting out a property in Tokyo. This applies to both domestic and foreign residents, in both a single condo or multi-unit accomodation.
The starting point is a discussion about your property.
Find out what is happening in the local market, how best to position your property and if you can earn the type of returns you expect through either long-term or short-term leasing.
2. Market Appraisal
Determining the appropriate rental level for your property.
Housing Japan has found homes for thousands of tenants, both within Japan and around the world. In consultation with our leasing team, your property manager will conduct a comprehensive market appraisal and propose the optimal rental value for your property.
Additionally, your property may benefit from renovations or improvements to maximize its rental potential. Your property manager will make recommendations and organize quotations. Should you decide to proceed we will engage and supervise contractors for the improvements.
3. Property Marketing
Marketing your property through multiple channels.
In addition to our own top-ranked website, Housing Japan markets your property in a variety of ways including to our existing database of residents in Tokyo and on the biggest real estate websites in Japan.
Offline, we assist many multi-national and Japanese firms with their corporate housing programs. We have many clients we are able to introduce to your property directly.
We also ensure your property is presented in the best possible way through photography, graphic floorplans and local area information.
4. Property Viewings
Your property manager will coordinate the property viewings, ensuring that your property is presented in the best possible way to prospective tenants. Vacant properties require attention and we make sure to ventilate the property, run the taps and flush the toilets each viewing to keep the property in good condition.
5. Negotiation and Applicant Screening
Negotiate the best deal possible.
Your property manager works to achieve the best possible outcome for you. We know that it is important to achieve a high rental return while taking the least amount of tenant related risk as possible. To reduce owners risk we;
- Ensure that the tenancy agreement is structured in the owners interest
- Perform a stringent check on potential tenants and their employers and
- Where appropriate, make use of rental guarantee companies.
In some cases we may advise you against taking a particular tenant. Bad tenants exist and are a risk for your investment.
6. Contract Execution
Prepare and execute the tenancy agreement.
Housing Japan will prepare the tenancy agreement contract based on the agreed terms. As a licensed real-estate broker we conduct the legally mandated duties including the explanation of Important Terms. We also create invoices on behalf of the owner for the contract monies such as rental and security deposits.
7. Tenant Support
As your Property Manager we:
- Conduct an pre-tenancy inspection of the property. We do a simple cleaning, replace broken light bulbs etc. and arrange for any repairs which may be required.
- Liaise with service providers to do the name change and start service for internet, cable television and other utilities.
- Are present on the move in day to verify with the tenant the current condition of the property (damage check), hand over the keys and explain how to use the property and facilities.
During the tenancy the property manager will handle any claims from the tenant related to the property such as any damage or faults that may arise. We understand that there is significant benefit to a long-term relationship and we work to maintain an ongoing relationship with them to make sure that they are happy and that every expectation they have of the property is fully met within the stature of the tenancy agreement.
8. Owner Representation
Represent the owners interest in all matters related to the property.
As your property manager we take responsibility to react to any issues which may arise related to your property.
This may include things like collection for late or unpaid rent. The invoicing of parties for repair fees and public utility fees which should be borne by the tenant. Safe keeping and management of the property’s spare keys. And the retaining and supervision of contractors to make repairs and do maintenance when required.
9. Owner Reporting
Provide timely financial reporting to the owner.
To maximise the cash flow and ensure owners have up-to-date performance reports, we have a team dedicated to completing and sharing regular monthly reports. We will also provide additional information if something is effecting the market or the value of your property on the Tokyo rental market.
Tax documentation, end-of-year financial reports and any information required for legal purposes will also be provided through our in-house accounting.
10. Tenant Exit
Handle the departure of tenants and restore the property to its original condition.
When a tenant vacates a property your property manager will;
Conduct move-out inspection. At the time of move-out we accept return of the keys and confirm with the tenant the condition of the property and areas that will require restoration or repair work.
Calculate Deposit Return. It is necessary to estimate the costs of repairs and restoration and negotiate with the tenant to agree on a deposit amount to be returned.
Organize repairs and restoration work. Once the property is vacant we will arrange for contractors to do any repairs and restoration work required to return the property to original condition.
The property is ready for another tenant and so the property management cycle starts again.
Find out more
Get in touch with us to receive a free consultation about how you could rent out and profit from a Tokyo property.