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Thread: Real estate agents

  1. #21
    Join Date
    Jul 2015
    Location
    Tokyo, Japan (Kita-Ku)
    Posts
    93

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    Quote Originally Posted by oi oi oi View Post
    What I find odd (stupid) is that if I renew my contract after 2 years the owner / agent wants a renewal fee, and there are no costs for them. But if I move out, they don't get a fee, and they have to stump up for refurbishing the flat. So why have a disincentive for people to renew?
    I honestly don't have a good answer for this. The renewal fee comes to me when each tenant renews (standard 2 year contracts) and so does the stack of paperwork I have to review and approve as the owner. I'm small potatoes compared to other guys that have 10+ buildings and they usually have dedicated staff to handle business like this.

    When I got into this business, I felt like it wasn't a good idea to try and change what most normal tenants would expect to happen (so I didn't). We don't do key money and deposits vary. There's no law saying that renewal fees are necessary, but it falls under the customary, business-as-usual category. (and the renewal language is stuck in all standard rental contracts, except for those that terminate full-stop for units with such arrangements. So, you sign, you agree to pay or move out, etc.)

    In other views, some owners see this is a way to refresh the tenants since some people won't pay. When you actually calculate the renewal cost vs. moving, renewal costs win, hands down, in most cases I would think.

    I'd also like to point out that most tenants take really good care of the rooms. The average cleaning/repair costs are usually below 70,000 yen, at least for smaller rooms.

    tbh; I've tried to do good things for my tenants....
    - All new aircons in one building. (fuck that was expensive, but I didn't opt for the cheapest shit on the market for good reason)
    - All new video intercoms & security upgrades.
    - Kitchen & Bath refurbishes. One building is ~11 years old, but the original builder was a dick and didn't do a good job with the bath/kitchen units. bastards.

    Ah well... it's business.

  2. #22

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    You sound like a good landlord. Seems like a lot of rental properties are built to low standards - no insulation, poor ventilation, cheap aircon units etc. Electricity and gas are paid by the tenant so there isn't much financial incentive for landlords to do more than the bare minimum.

    To be fair my experiences so far (once I've actually managed to find a place) have been good. Our current landlord gave us a discount on the rent after our first renewal, and replaced the aircon as soon as we told him it wasn't working properly.

    Totally agree that renewal fees are bollocks, but you can always try to negotiate, as we did with our landlord (via the agent). Worst outcome is they say no. If you've proven yourself to be a good tenant you'd think any sensible landlord would be somewhat flexible. Getting a new tenant must be expensive, and a risk.

    I also feel like key money is becoming less common, at least on the places we looked at. Brand new places still seem to charge key money though (high demand I guess).

  3. #23
    Join Date
    Oct 2013
    Location
    Kawasaki
    Posts
    273

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    Quote Originally Posted by arber View Post
    You sound like a good landlord. Seems like a lot of rental properties are built to low standards - no insulation, poor ventilation, cheap aircon units etc. Electricity and gas are paid by the tenant so there isn't much financial incentive for landlords to do more than the bare minimum.

    ...
    In Canada, I think it's the law that the owner must keep the house temperature at at least 21 deg. I like that. Makes them build and maintain the place properly.

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