Building owners often decide not to make major renovations to the exterior or interior of their buildings because it is difficult to generate the necessary rental income.
Renovating a building is not a bad thing in itself, and in some cases it can have tax-saving effects. However, in order to get results that are worth the large amount of construction costs, you may want to consider not only renovating your building, but also taking better care of your current tenants.
Originally, one of the most important Japanese sayings was "Mukou Sangen Ryo-Donari." It means that it is important to treat your neighbors with love and respect. Thus, rather than spending a lot of money on renovation work, building management that builds community spaces with tenants based on the concept of neighborly love has become one of the most important aspects of building management in Japan.