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Tokyo Weekender

Outrage After Foreign Landlord Nearly Triples Tokyo Apartment Rent

Residents in a seven-story apartment building in Tokyo's Itabashi ward were outraged after a new foreign owner suddenly raised the price of their rent from ¥72,500 to ¥190,000. The reason given for the approximately 2.5-times increase was rising costs. However, it has been suggested that the real reason was to force the residents out so the vacated apartments could be used as short-term rentals for travelers. When ANN News directly contacted the owner, who is in China, he stated that he would withdraw the rent hike. Despite this, residents still feel very uneasy about the situation. List of Contents: Residents Move Out Due to Astronomical Rent Increase Property Owner Reverses His Decision Related Posts Residents Move Out Due to Astronomical Rent Increase Due to the notice of the astronomical price increase, some have already moved out. Unknown people with suitcases were also seen entering the building. According to a website that provides information on private accommodations for tourists, a room in the condominium was being rented for about ¥25,000 per night. When ANN News checked with Itabashi ward officials, though, it was confirmed that the notification required as a private accommodation operator hadn't been submitted. Similar cases have been seen in other cities such as Osaka, where foreign-owned companies excessively raise rent to push out tenants so they can convert buildings into places for tourists to stay. Property Owner Reverses His Decision ANN News tracked down the Chinese owner of the condominium, who stated that large price hikes in Hong Kong and other places where he invested in real estate were not unusual as it was important to 'clean up the apartments and provide residents with a nice environment.' Not long after these comments, though, he decided to reverse his decision. 'I heard there was a big backlash, so I will not raise the rent,' he said. 'I will give notice next Monday (June 9).' He added that the elevator, which broke down in May, will be reopened soon. Apartments in the building will also no longer be available as short-term rentals for travelers. Related Posts Tokyo House Hunting: A Six-Step Guide to Renting Apartments in Japan Peek Inside Tokyo Apartments A Practical Guide to Apartment Gardening in Tokyo