SEXY IS AS SEXY DOES
To Nancy San Pedro, no area of real estate
is sexier than property management, despite
the headline-grabbing environments of other
disciplines such as brokerage. “We touch
on everything,” she says, “finance, construction, leasing, development
and, most important, future value.
When you see two buildings side by side and one is
commanding 30 percent more rent, it comes down
to the property management and the services they
We even have to practice
psychology when it comes to our
tenant relationships,” she continues.
It’s a multifaceted industry that gets
overlooked. Nevertheless, it’s a great career
that offers longevity and tons of ways to move
up and over and find niches within the overall
umbrella of property management.”
She was quick to explain however, that despite these potential glitches, she
remained optimistic, “but cautious. We aren’t applying the brakes, just voic-
ing a bit of concern.”
As it turned out, the measure was soundly defeated by the state’s voters, so
there should be some relief to the anxiety now.
Teruo Suenaga, CPM, CEO of Amix Co., Ltd., AMO, in Tokyo, is also
facing potential changes to the laws governing how properties perform. For
Japanese property managers, this could ultimately be a good thing. “Japanese
real estate prices peaked in 2017 and have trended downward,” he explains.
“There is a large chance that a law for the management of rental housing will
be passed in 2019.
“Seven years ago, the Japanese government created a registration system
for rental housing managers with the goal of optimizing management,” he
continues. “Currently, 4,000 management companies across Japan are reg-
istered, but this system is voluntary, so you can operate without registering.
This year a management company that wasn’t part of the system went bank-
rupt, and this became a major issue. Now the government is considering legis-
lating the system and requiring property management companies to register.
As an industry, there’s support for requiring registration that would eliminate
In terms of outlooks, this potential change could increase the prospects for
managers in Japan…eventually. “If the rental housing law passes in 2019 and
the management industry gains more recognition,” he says, “those of us in the
industry would be incredibly happy. However, once the law is passed, it will
be over a year until it goes into effect.”
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