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
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+¥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×
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×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
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