Real Estate News

March 3 2015

Buying Maintenance for Japanese Condominiums

We would like to continue to send you "Japan Real Estate Investment News" our newsletter featuring advice regarding Tokyo's real estate news and trends on a regular basis. We recently welcomed Ikuo Okamoto as a project member, and he is known for having through knowledge of the Japanese real estate market.

【Writer's Profile】
岡本 郁雄
Real estate consultant, management consultant, and financial planner, Ikuo Okamoto is familiar with  Japanese real estate marketing having seen more than 3,000 condominiums.  He’s provided consulting services and marketed real estate in Tokyo for more than 20 years.
He has also written articles about trends in the Japanese market with other experts on portal websites such as "All About."  He has been a lecturer at condominium purchase seminars, and has been a familiar voice on radio and television.  He is a graduate of Kobe University’s School of Engineering.

How the Japanese spirit keeps your investment pristine!

Perhaps you've heard about “buying maintenance for condominiums”? This refers to the Japanese Maintenance system. This system positively impacts condominium livability and asset value.

Condominium popularity grew throughout Japan in the 1960s and many condominiums from that period are still popular due to their fair condition - achieved through a system of adequate maintenance and repair known as the “Maintenance System.”

When considering the purchase of a condominium, Japanese buyers place importance not just on a building's location and specifications, but also on the “management system” and “maintenance company” that guarantee a good maintenance system.

Japanese condominiums can be divided into two areas - those that are exclusively-owned and those that are jointly-owned. Exclusively–owned areas are those residential spaces connected by hallways including, living rooms, bed rooms, kitchens, toilets, and bathrooms. The use of Japan-made kitchen equipment, toilets, and windows guarantees high levels of functionality and reliability. Windows with high heat insulation capacity and 24 hour air conditioning bring comfort to everyday condominium life.

Entranceways, lounge areas, elevators, hallways and exterior walls are known as jointly-owned spaces. These spaces are taken care of by the Maintenance Company, which is hired by the condominium owners' union. The jointly-owned spaces, such as building entrances, are the very face of condominiums; a well-maintained entrance will further secure a condominium's asset value.

Monthly service fees cover periodic cleanups and front desk management, while maintenance fees are applied toward longer term building upkeep.

“Omotenashi” (Japan's famous culture of hospitality) assures condominium maintenance of the highest level. Without this maintenance, owners cannot live comfortably. Simply put, one cannot overstate the importance of maintenance companies.

To ensure a safe, secure, cooperative and comfortable living environment, maintenance companies not only perform daily maintenance, they also consult on ways owners can help maintain condominium conditions over the long term. This includes addressing the interpersonal aspects of condominium living, such as reminding owners of condominium rules and resolving any conflicts that may arise between neighbors.

At the heart of any excellent maintenance company is its people. Possessing excellent interpersonal abilities, impeccable attention to details, properly attired and with an excellent attitude, these people will always greet you with a smile.

Sure, maintaining condominiums requires knowledge and expertise but - at the end of the day, it's the people performing the maintenance who will help bring comfort and joy to your daily life.

Japan is said to have the greatest customer service in the world. Japanese condominium maintenance carries on the mindset of that great service.

This spirit also goes a long way to securing the asset value of a condominium.

So, when deciding on a Japanese condominium, please keep in mind the advantages of “Buying Maintenance for Japanese Condominiums”!

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Each of us investment team members are expert professionals at property investment advisory, with an acquired know-how of Japanese property investment. We are more than happy to support you by helping you develop your ideas about the properties in the pursuit of your goals. Also, our multinational team welcomes any inquires in English and can provide additional support for speakers of Mandarin and Bahasa Melayu.