Company forced to pay compensation after lying about value of apartments
In a ruling that could make many real estate agencies nervous, a Tokyo-based real estate company has been ordered to pay 47 million Yen (573,000 USD) to a buyer after it was found that the company lied about the true value of two apartments in order to make the sale. Toshin Partners made false statements about the low-valued properties in order to sell them at a higher value.Read more
Kyoto Court ruling on renewal fees
The Kyoto District Court has ruled that the maximum apartment renewal fee cannot exceed 20% of the annual rent paid on the property.
On February 29th, the court made a ruling on a court case involving a 25 year old tenant who was suing her landlord for the return of her renewal fee. The judge ruled that a renewal fee that does not exceed 20% of one year's rent is appropriate, and ordered the landlord to return part of the tenant's renewal fee.Read more