Certification System Proposed for Elderly Monitoring in Rental Housing
Interior of  empty apartment for rent in Tokyo, Japan 賃貸

Japan is taking steps to make it easier for rental housing owners to lease their properties to elderly individuals by certifying rental housing equipped with services to watch over tenants.

The land ministry is envisioning a system where local governments will certify rental housing offering monitoring services for elderly tenants, provided by local operators of support services for the elderly struggling to secure rental homes.

Property owners often hesitate to enter rental contracts with seniors and individuals with disabilities due to concerns about their ability to pay rent or that they may die in their homes and not be discovered for a lengthy period of time.

Japan currently has a system for property registration with local governments to accommodate elderly and other individuals requiring special assistance in securing housing. However, the number and quality of registered housing units are considered inadequate, especially with the expected increase in elderly individuals, particularly those living alone.

For rental housing certified under the planned system, services to watch over elderly tenants would be provided mainly by local social welfare corporations and nonprofit organizations that support elderly people struggling to find rental homes.

These service providers would regularly visit tenants, utilizing information and communication technology devices like motion sensors to ensure their safety. Additionally, they would assist tenants in accessing essential public services such as medical care and elderly assistance programs.

Also envisioned is a system to publicly certify debt guarantee companies that cover rent obligations of elderly and other people needing special assistance in finding rental homes.

To implement these systems, the government is expected to submit legislation for revising the housing safety net law during the current ordinary parliamentary session.

Source: thejapantimes

Related Articles

Investors/Business, General
Information, News
Housing Japan, renowned for luxury real estate in Tokyo, introduces its Investment Sales Division, catering to investors, sellers, and landlords. This expansion offers a comprehensive package, including top-tier properties, sales aid, and property management. It's a one-stop solution for clients worldwide.
Investors/Business
Information
Investors prefer to park their money anywhere rather than in deposits that provide minimal returns or take a potential hit. For this reason, real estate tends to do well as interest rates drop allowing investors to take advantage of low mortgage rates and buy properties...
General, Investors/Business
Information, News
Japan's Justice Ministry is testing AI to translate Japanese laws into English, addressing rising global and local demand for English legal references in investments. Presently, manual translations by officials take about 2.5 years due to varied abilities and additional duties. The AI introduction aims to reduce this to a year, potentially streamlining the process significantly. Full AI integration is targeted for April if the trial succeeds. Justice Minister Koizumi Ryuji anticipates AI enhancing the prolonged translation process.
General, Investors/Business
Information, News
Commercial real estate transactions (JPY 1 billion or larger) dipped 9% to JPY 945.0 billion in Q3 2023, attributed to an 80% foreign investment drop. Despite this, J-REITs and domestic non-J-REITs soared to 2.4x the previous year's investment. Retail led at JPY 321.0 billion, driven by Yodobashi Holdings' substantial acquisition. Hotels and logistics also experienced notable year-on-year increases.