文字数: 3515 | 予想読書時間: 8 分 | 閲覧数: 11
“I want to invest in Japanese real estate, but I don’t really understand it and I’m afraid it’s troublesome. Can I just leave it to a third party through a rental guarantee scheme?”
I often receive this question from friends interested in Japanese property investment.
Indeed, formal sublease (サブリース) contracts can offer a hassle-free, passive income stream. The sublease company takes care of virtually everything—from tenant management to property maintenance—allowing the owner to “collect rent while doing nothing.”
However, in reality, the market is mixed with good and bad actors. There are many unreliable companies and risky contracts. So, is subleasing truly viable? This article explains how sublease agreements work, their benefits, and what to watch out for. If you’re considering property investment via subleasing, this article may help you make an informed decision.
Sublease vs. Traditional Management Delegation
Sublease contracts involve outsourcing property management to a specialized company that then rents the property out to tenants. It's often compared to management delegation, and both approaches can reduce landlord burden. Here’s how they differ:
Management Delegation
In this method, the landlord signs a contract with a property management company. The company handles tenant move-ins/outs, maintenance, and daily operations, but the lease remains between the landlord and tenant (often via a brokerage). Rent is typically paid directly to the landlord, and the management fee is around 5–10% of rental income. While landlords maintain control over rent pricing and tenant selection, they also bear the risk of vacancies.
Sublease
The landlord leases the property to a sublease company, which then rents it out to actual tenants. The contractual relationship is between landlord and sublease company. The company handles all leasing, rent collection, and tenant management. In return, the landlord receives a fixed rental income each month.
The biggest advantage is that even with vacancies, the landlord receives near-full rental income (minus 10–20% management fees). However, since most responsibilities are outsourced, choosing a reputable and financially stable sublease company is essential.
3 Major Benefits of Subleasing
✅ 1. Full Delegation of Property Management
Managing a rental involves:
- Tenant recruitment
- Rent collection
- Move-in/move-out coordination
- Contract renewals
- Complaint handling
- Building maintenance
It’s difficult for landlords to handle this alone. Sublease companies take on all of it. Some even cover costs like advertising and restoration after tenant move-out, depending on the contract.
✅ 2. Reduced Vacancy & Default Risks = Stable Income
A sublease guarantees the landlord a fixed monthly rent, regardless of whether the property is occupied or if the tenant is delinquent. This removes a major risk compared to traditional leasing.
However, landlords should check the market rent level before signing. Unrealistically high or low fixed rents can be a red flag. Use platforms like Suumo, AtHome, or the URBALYTICS rental estimation tool to compare similar properties and ensure your contract is fair.
Urbalytics Realtime Rent Indicator
✅ 3. Simpler Income Tax Reporting
Normally, landlords must keep detailed records of all costs (repairs, ads, etc.) for tax filing. In a sublease, the sublease company covers many of these expenses. This allows landlords to file much simpler income declarations and reduces their tax filing burden significantly.
