The 3As – Aoyama, Akasaka and Azabu

The Imperial Palace forms the centre of the Japanese capital—and since the Edo era, the most desirable quarters have been those closest to the palace grounds. This area is nowadays known as the 3As—Aoyama, Akasaka and Azabu—Tokyo’s most luxurious neighbourhoods.
 
Akiya 空き家 – Abandoned home

Akiya means "vacant home' in Japanese—and has become a hot topic in the recent years. There were approximately 8.2 million abandoned houses across Japan in 2013. The number is now estimated to have exceeded 10 million.
 
Apaato アパート

An abbreviation of the English word "apartment". This is used to denote apartments in wooden buildings that are usually no higher than three stories.
 
Chiekiken地役権 – Servitude

Servitude is a right to use the land of others for certain specific purposes on a non-exclusive basis.
 
Chijouken 地上権 – Superficies

This refers to 'superficies'; it is similar to an easement or a leasehold right in common law countries. Superficies give the person benefitting from it the right to own property (such as trees or a building), which is located on another person’s parcel of land.
 
Chukai Tesuryo 仲介手数料 – Agency fee

An 'agency fee' that is non-refundable and usually equivalent to one or up to two months' rent.
 
Futsuuchinshakuken 普通賃借権 – Regular lease right

A regular lease right under Japanese law. As a basic rule, this type of lease gives the tenant an automatic option to renew the lease when it expires, which is usually after a two-year period.
 
Hoshonin 保証 – Guarantor

A guarantor is a company or person that acts as an insurance for the rental contract, promising to cover any rent or damage costs if the lessee can’t or won’t pay. Legally, it is hard to sue a personal guarantor into paying, so most landlords prefer a guarantor company.
 
Ippan 一般 – General representation

General representation by a real estate agent describes a type of contract where the seller is free to engage several brokers at once to sell the same property. A general representation agreement may require the seller to inform the broker of the names of any other agents working on the same property.
 
J-REIT

Since its inception in 2001, the market for J-REITs (Japanese real estate investment trusts) has grown fast to become the second largest in the world, valued at approximately USD $107 billion in 2017. Currently, 59 J-REITs in the categories of office, residence, retail, hotel, elderly housing & facilities, logistics, leased fee car parking, and others/diversified are listed on the Japanese Stock Exchange. It is a legal requirement for J-REITs to distribute more than 90% of their profits as dividends to their investors.
 
Kōshinryō 更新料 – Renewal fee

A 'renewal fee' that may be charged on renewal of a rental lease, usually after two years and equivalent to one to two months' worth of rent.
 
Kubunshoyuuhou 区分所有法 – Japanese Condominium Law

The Japanese Condominium Law is the law that contains the basic rights and duties of parties living in a condominium.
 
LDK – Living Dining Kitchen

This is shorthand for the types of spaces offered in an apartment. 1K refers to a one-room apartment with a kitchen. 1DK means a one-room apartment with a dining area and kitchen. 1LDK is a one-room apartment with living, dining, and kitchen areas. 
 
Mansion マンシォン

From the English word "mansion", but also denoting just another type of apartment. This word is used with respect to more high-end properties, and not in the same sense as in English where it refers to a large, luxurious house. It is also often used to refer to condominium apartments (bunjou mansion). Mansions usually have three or more storeys and in concrete structure.
 
Reikin 礼金 – Key money

Literally "gratitude money", but usually translated as key money, this is a non-refundable amount that is like a gift for the landlord, usually equal to one, but up to three months' rent.
 
RC – Reinforced concrete

Buildings with RC or reinforced concrete frameworks use concrete that is reinforced with iron bars inside. The standards for this type of construction have been constantly updated over the years to fit earthquake resistance standards.
 
Shakuchiken 借地権 – Leasehold

Leasehold rights allow the owner of a built structure (usually an apartment or condo, but in some cases a whole building) to rent the land on which the structure stands for a fixed term. So they own the building, but not the land on which it stands. The property is further subject to annual land rent.
 
Shakuchishakuyahou 借地借家法– Law on Leasing Land and Buildings

The Law on Leasing Land and Buildings. This law regulates the rights and obligations of parties in most leases in Japan.
 
Sennin 専任 – Full service

A full-service agreement is exclusive with one agent only and prohibits the seller from engaging any other realtors simultaneously for the property, either as an agent or intermediary — which makes the designated agent the sole representative for the seller.
 
Senzoku sennin 専属専任 – Exclusive full service

Similar to the sennin contract, an exclusive full-service representation agreement bars the seller from engaging other brokers for the sale of a property. It also prohibits the seller from personally finding a buyer during the term of the contract.
 
Shikikin 敷金 – Deposit

This refers to the deposit paid when renting a property.
 
Shintaku juekiken信託受益権 – Trust beneficiary interest

Trust beneficiary interest is an option used by many investors in Japanese real estate. The property is transferred to a trust bank or a trust company as trustee, thereby becoming the registered owner and holding the real estate in trust for beneficiaries of the trust. Trust beneficiary interests can be freely transferred, subject to contractual restrictions.
 
Shoyuken 所有権 – Freehold rights

In Japan, ownership is the right to freely use, obtain profit from, and dispose of the relevant property for an indefinite period, subject to certain restrictions (such as restrictions on its use for city planning purposes). Land and buildings are registered in the real estate register (fudosan tokibo). The property address and size, plus the name of the owner, are tracked in this register.
 
SRC ­– Steel reinforced concrete  

An SRC structure utilizes steel in addition to reinforced concrete. Poles and beams, which are further supported by iron reinforcing bars, are filled with concrete.This type of structure is usually used for high-rise condominium and office buildings because it provides the best seismic resistance.
 
Tanpoken 担保権 – Security interest

Security interest is a right created to secure the performance of an obligation, including a mortgage and a pledge.
 
Teikichinshakuken 定期賃借権 –Fixed term lease right

A 'fixed-term' lease right. Unlike a regular lease, this type of lease doesn't give the tenant the right to renew upon expiration.
 
Toushin 5-ku東進５区 – C5W

The majority of investment in Tokyo is centered on the CBD, comprised of the five central wards of Chiyoda, Minato, Chuo, Shibuya, and Shinjuku. In total, Tokyo has 23 wards (23W).
 
Units of Measurement

1 shaku is equal 0.03306m²
1 gō is equal to 0.3306m²
1 jō is equal to 1.653m² (or one tatami mat)
1 tsubo (or bu) is equal to 3.306m² (or two tatami mats)
1 se is equal to 99.17m²
1 chō is equal to 9917m²

Read more:

• Obtaining finance in Japan
• Buying property in Japan
• Japan property taxes
• Renting property in Japan

Updated on February 19, 2019 by Mareike Dornhege