NOCOS ／ Cases

Quality by design — Case studies

Real outcomes from real properties.

Examples of how NOCOS improved owner economics through lower costs, stronger leasing, and clearer operating structures.

NOCOS case studies show concrete rental-management outcomes, including cost reduction, value-up renovation, and exit-strategy support.

Success Stories

Where owners saw measurable gains.

These cases show the practical side of NOCOS: reducing costs, improving leasing, supporting renovations, and planning with the eventual exit in mind.

Annual improvement
−¥2.2M/yr

Over ¥2 million in annual upside from reworking PM/BM costs alone.

PM fee ¥160k → ¥30k99% occupancy
Case 01 ／ Apartment building, Meguro, Tokyo

Yield improvement through management-cost optimization

PM fee ¥160,000 → ¥30,000

  • ✓Previous management company: PM fee ¥160,000/month, BM fee ¥263,300/month
  • ✓After switching to NOCOS: PM fee ¥30,000/month, BM fee ¥220,200/month
  • ✓Annual savings: approximately ¥2,200,000
  • ✓Occupancy rate: 99% (12-month average post-switch)
→ Over ¥2,000,000 in annual yield improvement
×1.6 PER-TSUBO RENT
Case 02 ／ Apartment building, Yokohama, Kanagawa

Full-building value-up renovation

Rent per tsubo ¥6,000 → ¥9,600

  • ✓Older RC apartment building, fully vacated after corporate tenant moved out
  • ✓Concept renovation tailored to remote-work demand
  • ✓Transformed into a sought-after property with applications received before completion
  • ✓Achieved ¥9,600/tsubo against the area average of ¥6,000/tsubo
→ 160% of the area's per-tsubo rent
Read the full case →
+¥15M GAIN OVER 3-YR HOLD
Case 03 ／ Condominium unit, Shibuya, Tokyo

End-to-end support with an exit strategy in mind

¥15M sale gain after 3 years of ownership

  • ✓Purchase price (tenanted property): ¥39,800,000
  • ✓Rental income over ~34 months of operation: ¥5,110,000
  • ✓Sale price: ¥55,000,000
  • ✓Substantial total returns from sale gain plus rental income
→ Approx. ¥15,000,000 sale gain after 3 years of ownership
4 days HANDOVER TO APPLICATION
Case 04 ／ Residence (formerly owner-occupied), Shibuya, Tokyo

Turning an owner's home into a premium rental

Target rent ~1.5× current · applied in 4 days

  • ✓Shibuya · a rare floor area of over 150㎡
  • ✓Investment validity verified backwards via rent-appraisal logic
  • ✓Premium quality achieved through material-level selection
  • ✓Many viewings against the ¥1M/month target rent
→ Applied 4 days after handover, target rent ~1.5×
Read the full case →
×1.5 SAME-WORKS ESTIMATE GAP
Case 05 ／ One-building apartment, Shinjuku, Tokyo

Switching management to a structure with no construction-cost markup

Same works, ≈1.5× when routed via a manager

  • ✓Doubts about suppressing PM/BM fees and recovering through construction costs
  • ✓NOCOS never becomes the prime contractor: actual-cost pass-through plus competitive bids
  • ✓Fee is a pre-agreed referral fee only — structurally no incentive to inflate works
  • ✓After works, our staff run a pre-move-in check (reported by video)
→ Construction-cost transparency was the deciding factor; management switched
Read the full case →

Your property may have
similar opportunities.

Once we understand the current management structure, we can outline where costs, leasing, reporting or operations may improve.

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