Process of Residential Property Management

Process of Residential Property Management

Leasing

  • Tenant search
  • Tenant Screening
  • Door lock replacement
  • Room/facility check up before tenant occupancy, etc.

* The following points illustrate major items to be explained clearly to the client when a residential asset is managed for a foreign landlord:

  • Explanation of the typical procedure of leasing in Japan.
  • Major clauses of a property management contract (e.g. the role of the property manger, fees)

Financial Services

  • Rent Collection
  • Payment of CAM charges, contingency reserve fund and other fees.
  • Security deposit upkeep
  • Resolving rent arrears
  • Tax agent services etc.
  • The party who is responsible for fund transfer fees and exchange rate risk when rental income is paid to the foreign landlord.
  • Required payment of CAM charges, contingency reserve fund, and repair costs are the termination of a lease contract.

Day-to-day Operations

  • Regular visitation, cleaning, maintenance and repair.
  • Plumbing cleaning, maintenance of the prevention equipment and pest control.
  • Condominium association related work, if applicable, etc.
  • Translation of materials published by the condominium association.
  • Whether or not to vote for the landlord at a general assembly of the condominium association.
  • Means of communication between the landlord and the property manager.

Lease Renewal

  • Negotiation of lease terms after renewal
  • Collection of renewal fees
  • Payment of necessary costs for renewal, etc.
  • Lease cancellation by the landlord is possible only when there is a justifiable reason.

Lease Termination

  • Negotiation with the tenant on the repair of the leased premises upon termination.
  • Confirmation of moving-out including key return.
  • Refund of security deposit etc.
  • Return of the security deposit when the tenant moves out.
  • The rules of sharing the necessary repair costs between the landlord and the tenant at the lease termination.