So you’re thinking of investing in Japanese property, well done! A great choice. Gentle stable wealth creation awaits you.
But wait… you’ll have Japanese tenants, what now?
A great article this week by Ziv Nakajima-Magen, a friend of ours and fellow investor based in Fukuoka on the southern island of Kyushu. Ziv deals with plenty of tenants and asked the question, “What do Japanese Tenants want?
Take a look at the full article, we will post it at the end. If you are invested in your home country and now beginning in Japan, some good news… tenants across the world want similar things, clean, well maintained property in a great location (differs on the country) with good terms and conditions. Not that hard, right? My UK tenants have different value and expectations to my Japanese tenants but the base is the same.
So what might be different? Well firstly, as Sim and I have written about, proximately to a station is gold! 5-7 minutes walk is fine. Beyond 10 minutes and your potential rental pool just dried up!
Japanese tenants are not that demanding. They will certainly bring their own white goods, light fixtures and even a/c units. Saving you the investor money.
Some things that must be in place to maximize your potential rental field include a washing machine pan. Back in the day tenants would go to a coin laundry or set up a washing machine on the balcony! Now they expect a washing machine pan in the apartment. Autolock and coded entrances are becoming standard. Ironic that in such a safe country these features are sought out, but make sure you have them! Try not to purchase your Japanese rental property on the first floor, these units are much less desirable.
The list goes on but the basis of Ziv’s article is… do your due diligence to maximize your profits! And if you don’t want to do your due diligence, partner with someone who will, perhaps with JPI?