Many foreign property owners may wonder, “How should I manage real estate in Tokyo?”
In this article, we will introduce four essential tasks required for property management in Tokyo, as well as three common challenges that foreign owners often face when managing property in Tokyo.
We will also explain companies that can support property management in Tokyo, key points to consider when choosing a property management company, and recommended property management companies, so please use this as a helpful reference.
Four Essential Tasks for Property Management in Tokyo
The essential tasks required for property management in Tokyo are the following four:
- Tenant recruitment
- Tenant management
- Building and facility management
- Income and expense management
Below, we will explain each of these four tasks in detail.
Tenant Recruitment
As part of property management in Tokyo, tenant recruitment is necessary to attract good tenants and maintain high occupancy rates.
To avoid long vacancy periods, it is important to promote the property’s appeal widely and differentiate it from competing properties.
In addition, to ensure reliable tenants, it is important to check whether applicants have stable income to pay rent and whether they are unlikely to cause problems or disputes.
Tenant Management
Property management also includes tenant management tasks, such as rent collection, handling disputes between tenants, and contract administration.
Rent management refers to managing rent payments transferred by tenants, while handling disputes involves smoothly mediating conflicts between tenants or with neighboring residents.
Contract administration includes renewal or termination procedures, as well as charging repair costs after tenants move out.
Building and Facility Management
Building and facility management mainly involves keeping the property and surrounding premises clean, including building cleaning, weed control, and pest control.
In addition, this task includes maintaining shared facilities and carrying out repairs when equipment or facilities break down.
Income and Expense Management
Income and expense management is another essential part of property management.
This task focuses on managing income and expenses to ensure successful real estate investment.
For example, expenses related to property management may include repair costs for buildings and equipment, house cleaning fees, fire insurance premiums, and brokerage fees, all of which must be planned and managed carefully.
Three Common Challenges Foreign Owners Face in Property Management in Tokyo
The three common challenges that foreign owners often face when managing property in Tokyo are as follows:
- Difficulty responding smoothly to tenants
- Challenges managing buildings remotely
- Language and cultural barriers in Japan
Below, we explain each of these challenges in detail.
Difficulty Responding Smoothly to Tenants
Foreign owners living overseas may find it difficult to respond quickly and smoothly to tenant requests and issues.
If appropriate initial responses are not provided, the risk of tenant turnover may increase, so it is important to respond to tenant inquiries as quickly as possible. However, handling requests and resolving problems from a distant location can be challenging.
Challenges Managing Buildings Remotely
For owners living abroad, it can be difficult to frequently check the condition of their property, which may lead to delays in repairs when problems occur.
Property management requires regular building cleaning and equipment maintenance, so foreign owners need to consider solutions to manage these responsibilities effectively from overseas.
Language and Cultural Barriers in Japan
Foreign owners who are not fluent in Japanese often face language and cultural barriers.
When signing lease contracts or communicating with tenants, there are many situations that require an understanding of Japanese culture and the ability to communicate in fluent Japanese.
What Is a Property Management Company That Supports Real Estate Management in Tokyo?
A company that supports real estate management in Tokyo is known as a property management company.
A property management company is a firm that handles the tasks required for managing real estate on behalf of the owner.
By outsourcing services such as tenant recruitment, rent collection and management, regular cleaning, and inspections, owners can significantly reduce the time and effort required for self-management. In addition, quick resolution of problems helps meet tenant needs more effectively.
Key Points When Choosing a Property Management Company in Tokyo
The key points to consider when selecting a property management company in Tokyo are the following four:
- Strong language support
- Ability to handle both management and brokerage services
- High-quality support system
- Ease of remote communication
Below, we explain these four points in detail.
Strong Language Support
When foreign owners choose a property management company in Tokyo, it is essential to confirm whether the company has strong multilingual capabilities.
If a company has bilingual staff who can handle both Japanese and English, language and cultural barriers can be minimized. This ensures not only smooth preparation of necessary documents but also effective communication with tenants.
Ability to Handle Both Management and Brokerage Services
It is ideal to select a company that can handle both property management and brokerage services.
A brokerage-only company typically manages tenant recruitment, screening, and lease procedures. However, a company that handles both can manage tenant relations and building management as well, allowing owners to outsource a broader range of responsibilities.
High-Quality Support System
When choosing a property management company, it is also important to evaluate the quality of its support system.
For example, a locally based company that understands the area and tenant demographics can leverage its expertise to attract more tenants.
It is also important to check whether the company can respond quickly to on-site issues and provide necessary services such as regular inspections and repairs.
Ease of Remote Communication
Foreign owners should choose a company that provides reliable communication even from overseas.
For example, a company with highly responsive staff will provide regular updates and respond quickly when issues arise, giving owners peace of mind.
Additionally, companies that offer concrete strategies for reducing vacancies can help maximize the owner’s investment returns.
What Is the Recommended Property Management Company in Tokyo?
The recommended property management company in Tokyo is Asian Property Inc.
Asian Property Inc. is a real estate company specializing in luxury properties for foreign clients and has strong expertise in property management for foreign owners.
From rental consultations and tenant recruitment to lease renewals, property management, and move-out procedures, bilingual staff provide comprehensive support tailored to each landlord’s needs, allowing owners to entrust their properties with confidence.
Free consultations are available through “APARTMENTS TOKYO,” provided by Asian Property Inc., so please feel free to contact us.
Property Management in Tokyo: What Foreign Investors Need to Know After Purchase — Summary
In this article, we introduced the four essential tasks of property management in Tokyo and three common challenges foreign owners often face when managing real estate in Tokyo.
If you are struggling with property management in Tokyo, please leave it to APARTMENTS TOKYO by Asian Property, which specializes in luxury properties in Tokyo.APARTMENTS TOKYO offers a wide range of luxury real estate across Tokyo and provides comprehensive property management services, so please feel free to contact us for consultation.
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