Rent subsidy for retail landlords

A severe downturn in the retail, food, and beverage industry has led many struggling tenants to reach out to their landlords to request rent discounts. Although there are no government directives protecting tenants at this time, landlords are being encouraged to cooperate with tenant requests where possible. But, not all landlords are in a position to do so, with rental income often going towards loan repayments and property holding costs. Recently, some local cities have started offering financial support to those landlords.

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Daiwa House offering 3-month rent deferment to 500,000 tenants

On April 22, Daiwa House announced that they will be offering a three month rental-deferment plan to approximately 500,000 of their residential tenants. The company understands that tenants may be struggling with finances due to the economic impact of the global coronavirus pandemic and is offering this without the need for tenants to prove any proof of loss in income.

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Japan’s first winery to be leased for ¥4.62 million a month

Ushiku City in Ibaraki has agreed to lease a historic winery for 4,620,000 Yen (approx. 42,000 USD) per month. Ushiku Chateau (formerly Chateau Kamiya) was opened in 1903 by Denbe Kamiya (1856-1922) and was Japan’s first winery.  In more recent years the winery was receiving as many as 400,000 visitors a year when it was open to the public. It closed last year, prompting locals to lobby the city to find a public use for the property. 

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