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Meihō Properties and TEPCO i-Frontiers Join Forces for Enhanced Rental Management

In an innovative move to strengthen the rental management sector, Meihō Properties, a leading rental management company with a track record of managing over 3,000 properties in the Tokyo metropolitan area, has signed a partnership agreement with TEPCO i-Frontiers. This collaboration aims to revolutionize the way rental equipment warranty services are provided to property owners and tenants alike.

Strategic Partnership Overview

Meihō Properties, headquartered in Meguro, Tokyo, is led by its President, Tomohiro Takeuchi. The new partnership with TEPCO i-Frontiers, a subsidiary of Tokyo Electric Power Company, marks a significant step forward in addressing the challenges faced by landlords in managing their rental properties. TEPCO i-Frontiers specializes in fostering innovation, and through this partnership, they will introduce the “TEPCO i-Frontiers Housing Equipment Warranty (for rental properties)” into Meihō’s rental management services. This service will be branded as “MP Anshin Housing Equipment Warranty Service” and will begin rolling out on June 1st across the approximately 3,000 rental units that Meihō manages.

Addressing Rapid Equipment Failures

The rising issue many landlords face today is the unpredictable breakdowns and repairs of housing equipment, which can disrupt rental income and lead to added financial burdens. The legal landscape surrounding rental agreements has also changed significantly since the civil law reform in 2020, heightening landlords' risks when equipment malfunctions occur. To mitigate these challenges, Meihō Properties has decided to introduce this new warranty service, aimed at reducing management risks and ensuring long-term asset operation.

Features of the MP Anshin Housing Equipment Warranty Service

Meihō Properties’ “MP Anshin Housing Equipment Warranty Service” promises extensive coverage and support:

1. Comprehensive Equipment Coverage: The warranty covers a wide variety of housing equipment, including, but not limited to, water heaters, air conditioners, gas stoves, ventilation fans, intercom systems, and more, depending on the selected plan.

2. Long Warranty Period of 20 Years: In an industry-first, the warranty lasts for 20 years. Typically, manufacturer warranties cover only 1-2 years, whereas potential repair risks increase as equipment ages. This service provides the benefit of repairs equivalent to manufacturer standards when issues arise.

3. Unlimited Free Repairs Up to ¥100,000: During the warranty period, each piece of equipment is eligible for unlimited free repairs, with a maximum cap of ¥100,000 (including tax).

4. New Build Sub-Lease Plans: In addition to rental property warranty plans, Meihō Properties will offer plans for newly constructed sub-leased properties, with similar levels of equipment warranty, albeit with a shorter warranty period of 10 or 15 years.

For more information on the service, visit Meihō Properties Warranty Service.

Comments from Leadership

Tomohiro Takeuchi, President of Meihō Properties, expressed excitement regarding the adoption of TEPCO i-Frontiers’ housing equipment warranty. He emphasized that the swift response to equipment troubles and the reduction of repair costs represent significant reassurance for property owners. He noted the new sub-lease plans for newly constructed properties present a compelling product that can be utilized within standard lease agreements, anticipating increased interest from various property owners.

On the other hand, Ei-toshi Kikuchi, President of TEPCO i-Frontiers, highlighted that their warranty services are also well-received for enhancing operational efficiencies for management companies. He appreciated Takeuchi's remarks on the service’s advantages for property owners and expressed hope that this new offering would provide additional value to sub-leased property owners.

About Meihō Properties

Since its establishment, Meihō Properties has committed to ensuring stable income and high occupancy rates for property owners through its sub-lease (rent guarantee) operations and related businesses. They are now expanding their operations to include PM reports and real estate transactions to meet the evolving demands of the market.

Founded in 1986, Meihō Properties continues to adapt and innovate in the real estate management field, with headquarters located in Meguro, Tokyo. The company and its leadership are dedicated to improving satisfaction levels for property owners, tenants, and all stakeholders involved.

For additional details about the company, visit their website.