Real estateRaise the Value of Rental Property with DIY

1443 min

A seminar and cross-industry exchange meeting, “Koshigatari,” held by Mr. Takahiro Koshimizu, who owns and operates 66 rental housing units in five buildings in Kawasaki City, Kanagawa Prefecture, was held on the 17th. About 60 people participated. This is the 52nd time it has been held.

On the theme of “how to make DIY-capable home property choices in the future,” DIY producer Makiko Ishii and Housemate Management Solutions Business Unit Manager Naoko Ibe gave a lecture.

Ms. Ishii has been engaged in activities to popularize and support DIY since 2003, and for the rental housing owners, presides over “DIYER’S PARTY” and “Oya’s DIY School” to support DIY. Based on her previous experience, she said, “There are many people who expect to reduce costs on DIY refurbishments, but it does not actually lead to cost cuts.” “It will lead to value and increase the value,” and “By implementing DIY, different homes will be realized for each resident. In a sense, they will be converted into “designer’s houses.” She showed specific example photos while describing the effects of DIY refurbishment.

Ms. Ibe explained the effects of DIY reform from the standpoint of a management company. She explained in detail the points to note in the contract and the measures to acquire tenants by introducing DIY at Honda Mansion (Nerima-ku, Tokyo), which was 39 years old and had a vacancy rate of 50%.

Using DIY techniques, property owners can perform refurbishments themselves, often as simple as new wallpaper or a coat of paint, saving money and increasing the value of the property more than the cost of the materials and labor. This increase in value will have a positive effect on passive rental income when the property is rented out.