Comparing tenant placement scopes for a ¥102,500,000 Tokyo studio

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askTheSparrow

Homeowner
I’m comparing proposals for tenant placement on a Tokyo studio priced around ¥102,500,000. The cheapest proposal appears to cover little beyond introducing a prospective tenant, while others include negotiation and document coordination.

Before choosing, I want to know what should reasonably sit inside the fee: response times, itemised exclusions, Tokyo-specific knowledge, and one accountable contact from offer through the relevant signing or closing steps. What wording would you insist on in the quoted scope, and what independent evidence would show that the provider can actually deliver it?
 
First clarify whether “closing” means completion of your property purchase or execution of the tenant’s lease. Those are separate workflows, and a placement provider may not be responsible for both.

For the placement quote, I would want each stage listed: marketing, enquiries, viewings, applicant communication, negotiation, document coordination, handover and post-handover issues. It should also state the payment trigger and what happens if the applicant withdraws.
 
Also ask them to put response expectations in writing rather than promising to be “responsive.” Who acknowledges an offer, who chases missing information, and when does an unanswered issue escalate? A named contact is only useful if someone else takes over during an absence.
 
Is the studio vacant, already occupied, or still being acquired? That missing fact changes the task considerably. I’d also ask whether the quotes include the same channels and language support, or whether one is cheaper because those sit outside the fee. The ¥102,500,000 property price alone does not tell us how difficult the tenant search will be.
 
I wouldn’t automatically choose the broadest package. Extra coordination can duplicate work already being done by the sale-side agent or another party. The better comparison is responsibility without overlap.

Ask each provider for a redacted example workflow, the documents they expect to coordinate, and evidence of handling comparable Tokyo properties. Then map every stage to one responsible party. Gaps matter, but two parties both assuming the other is acting can be just as troublesome.
 
A simple scope table should expose that. Put the stages down the left and ask each bidder to mark included, excluded or separately charged. Add columns for deadline, responsible person, deliverable and fallback if a tenant does not proceed. Do not accept “support” as a deliverable; ask what action it actually means.
 
The cash comparison should include more than the placement fee. Estimate the cost of additional vacancy if the introduction-only option leaves you coordinating negotiations or papers slowly, then request fixed prices for every excluded task. No rental figure or expected timeline has been given here, so that downside cannot yet be calculated.

Finally, have the engagement terms checked for how cancellation, failed applications, fee refunds or replacement efforts are handled. The exact effect will depend on the contract and Japanese rules, so unresolved wording is a reason to pause rather than assume coverage.
 
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