How do i evaluate an apartment Building? (japan)

[Dan Baker]

so im looking to learn more about the specifics of purchasing japanese real estate, more specifically single occupant units.  Im trying to figure out what kind of operating costs and tax's i should consider before purchasing a small or medium apartment building.  I do know that the type of structure makes a difference when acquiring a loan (steal/wood/concrete). If anyone knows the specific usable years for these structures that would be great.  

It would be immensely helpful if anyone could enlighten me on what to expect on the subjects of fire, elevator and water tower inspections (frequency/cost), building maintenance, insurance, property management, etc.

I believe 5% each month and a 2-3 month fee for finding tenants, please correct me if im wrong. 

Also with buildings essentially being disposable, and "reforming" only able to be done after 1990 something. does anyone have a plan for the investment when the usable life span begins to run out and vacancies begin to increase? I figure just tear it down and build a new one, but to my understanding it is very difficult to get people out once they are in. 

Also with prices shooting up here in tokyo would it be advisable to look in another population center, or wait for a good deal locally? 

[Jim Adrian]

Yesterday at work I found this great link on building product lifespans (see below).  This will help answer some of your questions.  As for structure lifespan, usually some other event/issue causes a building to be torn down like seismic or natural disaster.  I would expect to see 50 - 75 years. At some point you will need to do a major renovation of hvac, plumbing, interior finishes but that was already assumed.  Do a quick google search for "building life cycle span" and play around with the wording too.  I know this link is US based but may be relevant for Japan as well.

https://icap.sustainability.illinois.edu/files/projectupdate/2289/Project%20Lifespan%20Estimates.pdf