Here are some frequently asked questions from our customers.
Before Purchase
- Is Gan Asset Management licensed real estate company in Japan?
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Yes, we are. Our license number is Fukuoka(2) 17708
- Is there any restrictions to buy a Japanese property for oversea investors?
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No, there is no restriction at all.
- Can the transaction be done online?
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Yes, it can be done online so you don’t need to come to Japan.
- How long does the transaction take to be completed?
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It would take 1~1.5 month.
- What kind of property management service do you provide for clinets?
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Rent collection, basic tax handlings, complaints handling etc.
- What type of lease contract on the property?
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Basically, it is 1 or 2 years renew.
- Is it possible to ask the tenant to move out when the lease contract expires?
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No, it is not possible. As long as the tenant wants to renew and pays the rent on time, the landlord cannot end the lease contract due to Japanese law.
- What is the required document to buy a property in Japan for overseas investors?
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It is an affidavit that stated your home address, name, date of birth, passport number, nationality, e-mail address, signature which can get from a public notary.
- Is it possible to know the current condition of inside room?
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No. If the property is tenanted, it is not allowed to view the inside.
- Do you know any banks in Japan that can provide a loan for oversea investors?
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No. there is no any banks for non-residents.
- How about open a bank account?
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Unfortunately, the restriction has been strict so there is no way to open a bank account for non-residents.
- What kinds of tax does oversea investor need to pay for buying a property in Japan?
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-Fixed property tax and acquisition tax
- What is the monthly expense?
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-Building management & maintenance fee to the building management company. Property management fee that is 5% of rent to our company.
- Is there way to know if property has a bad record such as suicide?
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Yes. As licensed real estate company, the investigation report must be provided to the buyer before signing a contract.
- When is the deposit required to pay?
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After signing the contract document
After Purchase
- How do you wire the rent to overseas?
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Through bank transfer or Wise (online transfer)
- How much is the bank transfer fee?
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Around 7,000 yen for each time
- What is the coverage for insurance?
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Fire, Lightning, Bursting and Explosion, Wind disaster, Hail disaster, Snow disaster, Dropping object, Incoming object, Water soaking, Stolen, Unexpected accident
- Is it possible to raise the rent when the lease contract is renewed?
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Most likely No. it is not common practice to raise the rent to the same tenant.
- How much is the income tax?
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There are 7 layers of income level. The lowest rate is 5% if the income range is from 1,000 yen up to 1,940,000 yen, but you have a basic deduction of 480,000 yen.
- What if the tenant pays the rent behind?
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Mostly the lease contract comes with the rent guarantee company so they will pay the rent on behalf of the tenant
- How much is it to find a new tenant?
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it is 2 months of the new rent.
- How does Gran Asset Management sell a property?
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Posting on the most common real estate platform and asking several agents to sell.
- Is it ok to change to another property management company from Gran Asset Management?
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Yes, it is ok if you feel not satisfied with our service.
- How often does Gran Asset Management send the rent to the owners?
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Every couple of months or every month but it is up to you.
- What kind of document is required for selling a property?
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Different type of affidavit from the one when you bought a property
- How much is the capital gain tax?
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Less than 5 years: 30% of profit
After 5 years: 15% of profit - When does the tenant need to give notification of moving out?
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1 month before moving out date
- Can the owner ask the previous tenant to pay the restoration work cost when moving out?
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If the damage is due to the intentional negligence of the tenant, the cost will be the tenant’s expense.
- How much is the tax filing?
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Basic fee is 15,000 yen + 7,000 yen per property