Share house investors left high and dry
Investors in share houses have been left struggling to make loan repayments after their subleasing companies failed to make rental payments to landlords. A non-profit support center for landlords reported over 100 calls from distressed property owners over the past month.
Two different share house operators have recently reneged on their sublease agreements with landlords.
Company 1
On January 17th, a Tokyo-based share house operator held a meeting with investors informing them that they would no longer be able to pay rent to the landlords due to financial difficulties. Read more