Note: This is a general case. Actual relationships may differ among properties.
The first stage of the new condominium business is to secure land for construction, with construction starting after receiving construction approval. Condominium sales generally begin once construction has started.
From when sales start through to signing of contracts, units are recorded as the balance of contracted units, and then posted to sales once delivery to purchasers has been completed. The Company records completed condominium units for which sales agreements have not yet been entered into as “completed condominium units in inventory.”
Condominium management contract
A management association comprising all condominium unit owners commissions a management company to manage the condominium building which then receives management, maintenance and other fees in return for its services.
The main tasks include clerical work, such as recording expenses and receipts for administrative expenses and the maintenance reserve collected for the running of the management association, overseeing maintenance which includes daily cleaning, and the maintenance of structures and facilities. Such support services help to enhance security, safety and comfort for residents.
As condominiums age, they require repairs and planned renovations to maintain and improve the performance of structures and facilities.
A management company handles construction scheduling and consulting and oversees the work, receiving construction fees from the maintenance reserve that a management association sets aside.
Structures degrade over time.
A management company undertakes planned renovations by providing support when a management association formulates upkeep plans covering around 30 years.
Planned repairs and maintenance at appropriate times according to the degradation of structures and facilities can restore performance to not far below the levels of new buildings.
Around 12 to 15 years after construction, large-scale repairs and maintenance work are undertaken to coat walls, waterproof roofs, and coat metalwork.
At these stages, Group management companies formulate proposals to not only functionally restore condominium buildings but also refit with the latest facilities and make the buildings barrier-free for greater enhancement of their performance.
In planned renovations, stages through are thereafter repeated.
After consulting with the seller, we evaluate the property by checking the location and other information, and conclude a brokerage contract with the seller. We then begin advertising and showing the property to interested parties.
Once a buyer is decided on, we help conclude a contract between the seller and the buyer and receive a brokerage commission.
A real estate company of the Daikyo Group buys the property* after consultation with the seller.
After renovating the property, the real estate company of the Daikyo Group sells the property and receives payment from the buyer.
*Properties that the Daikyo Group buys must satisfy certain conditions.