condo/flat
Each block of apartments has a body corporate, which is made up of the unit owners. The building management company is engaged to provide the day to day management service for the building, small repair and maintenance (R + M) works as required, as well as managing the repair funds of the body corporate. The repair fund contributions are pooled to meet major R+M works that the body corporate will undertake on the building from time to time.
Sometimes, the repair fund contribution is set too low at the beginning by the developer (to make it look more attractive in order to sell units), resulting in a shortage of funds when R + M work is required. In such cases, top up payment may be requested and unit owners are asked to bear their share of the additional costs. Therefore, condos/flats with low Repair fund contributions raise red flags. You should check the current balance of the pooled funds and compare it to the long term repair plan of the building (長期修繕計画) to see at what point additional payment is likely to be called for, if any, and for how much. Buildings with regular R + M works maintain a good appearance as well as their value.
When considering buying a unit, you will be provided with a copy of Jucho (重要事項調査報告書:Investigative report on important matters). It shows the management fee and repair fund contribution on the unit and any unpaid amounts by the present unit owner which the seller needs to pay up before settlement.
As well as Jucho, you should also ask for a copy of the body corporate annual general meeting minutes (and management committee meeting minutes) as far back as available to ensure that there is no alarming issue discussed.
car park
Many condos/flats have car park spaces allocated to each unit. Some are provided free of charge, whereas others incur a monthly charge. If you do not need the space, you may be able to let it through the management company. Every body corporate has different rules so best to check this in advance. Some body corporate owns part of the car park spaces and so that revenue flows into the R + M fund. As more people use public transport and sharing cars becoming more popular in Tokyo, more car parks at condos/flats remain vacant, which puts pressure on some body corporate's finances. If there is such a concern, it should be discussed and found in the records.
Common space/notice board
How clean and tidy common spaces are kept will give you a good indication of the management company's performance and the quality of the residents in the building. If the rubbish bin is full of flyers, some light bulbs are missing and some old notice from last year is still hanging loose on the board, these are not good signs.
Also check Residents’ rules（使用細則）and any other rules for details.
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