When it comes to real estate investment, the number of minutes walking from the station is one of the indicators for choosing a property. In particular, if it is "more than 15 minutes walking," you may tend to get the impression that it is somehow "far away" or "inconvenient."

However, such properties actually have their own appeal, and there are many examples where they have achieved stable occupancy through clever management.

In this column,

・Advantages and disadvantages of properties far from the station
・Why the distances shown on the station do not match the actual distances
・Points to be aware of when operating

We will also be sharing actual success stories, taking into account the real estate situation in the metropolitan area.

1. Advantages and disadvantages of properties far from the station

Benefit

• As rent can be kept low, a wider range of people can consider renting.
  Because the rent is lower than that of properties near stations, these properties tend to be chosen by single people, students, young couples, etc. who are looking for a property that prioritizes rent. Another attractive feature is that, compared to properties near stations, the rooms are larger and the property is newer, making it easier to create a sense of value for money, even with the same rent [Note 1].
• Quiet living environment is easily available
  Another advantage is that if you can get away from downtown areas and train tracks, you can easily find a quiet living environment. This is especially popular among those who want a quiet lifestyle, such as those who work from home or those raising children [Note 2].
• It is also popular among health-conscious and exercise-conscious people.
  For people who like to walk or want to get more exercise, walking 15 minutes a day can be surprisingly beneficial. Especially in recent years, as lifestyles have diversified, more and more people are not concerned about the distance from the station [Note 3].

Demerit

• Easily stressed by the weather
  In bad weather such as rain, snow, or extreme heat, a 15-minute walk feels like a much bigger burden. It can also make daily commutes and shopping a hassle, which can be a reason to move.
• Increased anxiety about nighttime walking and crime prevention
  In some areas, there are fewer streetlights and fewer people walking around as you move away from the station. For women living alone or families with small children, safety is a very important factor in deciding where to live [Note 1].
• Noise can be a concern along major roads and overpasses.
  The route along the way can be problematic precisely because of the distance from the station. For example, in Tokyo suburbs, the closer to large commercial facilities there are the more arterial roads there are, and there are cases where you have to cross footbridges and underground passages, and there are many traffic lights, which actually increases the actual travel time. This is a major factor in why the distance feels farther than it appears [Note 4].

2. Discrepancy between the written walking time from the station and the actual walking time

In real estate advertising, walking time is calculated as "80 meters = 1 minute" [Note 5]. Therefore, things that take time regardless of distance, such as traffic lights, slopes, stairs, and crosswalks, are not taken into account.

Especially in the Tokyo area, it is common for the numbers to not match the actual travel time in cases like the ones below.

• There are footbridges and underground passages to go up and down.
• The route is forced to take a detour through a commercial facility.
• Roads with a lot of foot traffic and slower walking pace

Even if it says "15 minutes walk" like this,It actually takes more than 20 minutes to walk there.It is not uncommon for this to happen.

3. Points to consider when managing properties far from stations

To capture the hearts of potential tenants in properties that are 15 minutes or more on foot from the station, it is not enough to simply tell them, "It's far away, but it's cheap." It is important to convey the appeal of the property and the surrounding area in a way that is "easy to imagine" and "convincing."

■ Visualize and communicate the actual route

"15 minutes on foot" may sound like a long way, but depending on the route you take, it may actually feel closer than you think. If you take a road with few traffic lights, well-maintained sidewalks, or a well-lit, busy road, it may feel like it's only about 10 minutes.

Introducing these actual routes with photos and videos can help ease psychological anxiety and negative impressions.

■ Introduce transportation options other than walking, such as bicycles and buses

You can widely communicate the "accessibility" of the property by not only focusing on walking distance, but also introducing how many minutes it takes to cycle to the station, the location of the nearest bus stop, the number of buses running, etc. In particular, in the Tokyo metropolitan area, there are many areas where cycling or bus commuting is common, and this information can be a deciding factor for tenants.

■ Complement the quality of living facilities

Even if the area is far from the station, it can be attractive if it has all the facilities you need for daily life, such as a supermarket that's only a three-minute walk away, an elementary school nearby, or two drug stores. Information on hidden gems that only locals know about, as well as information on parks, cafes, and other things that can improve the quality of life, is also useful.

■ Explain nighttime routes and safety precautions

Providing specific information such as whether there are routes that are safe to walk on at night, the number and brightness of streetlights, the installation of security cameras, and the distance to the nearest police box will help to give people, especially women and families, a sense of security.

■ Communicate the attractive features of the property itself, including its facilities and layout

The advantage of being a little further from the station is that it is easier to offer larger rooms and more functional facilities for the same rent. For example, if there are two-burner stoves, a bathroom dryer, a walk-in closet, etc., there is a higher chance that people will think, "I want to live here even though it is this far away." The comfort of the room is a strength of the property.

4. Case study: Focusing on targets and managing to fill all occupancies

We would like to introduce an interesting example of managing a property that is a 15-minute walk from a station. Located a 15-minute walk from Kanamachi Station in Katsushika Ward, Tokyo, an apartment called "Maison Neko" has a clear concept of being "exclusive for people who live with cats" and has a track record of being fully booked [Note 6].

In this property,

・Cat-friendly steps and crawl spaces are installed inside the room
・Layout and size are suitable for multiple pet owners
・The conditions for occupancy also state that the apartment is for cat lovers only

With these and other ideas, the company has succeeded in differentiating itself by fully compensating for the distance from the station. This is a good example of how distance from the station is not a critical weakness if you are clear about who you are targeting and what kind of lifestyle you are providing.

in conclusion

Distance from the station is certainly one factor to consider, but the days when that directly leads to the conclusion that "it's no good because it's far away" are over.

In fact, it is precisely because the lifestyles and values ​​of residents are becoming more diverse now thatWhat kind of lifestyle will you be able to live in this property?I feel that the key to successful rental property management is to carefully communicate this information to customers.

We are sure that we can move the hearts of residents by making efforts to help them imagine the real life that lies beyond the "number" of a 15-minute walk.

Also, as a general rule, the longer the walking distance from the station, the higher the yield of the property. Even if the property is a little far from the station, it is entirely possible to keep it fully occupied if it is managed properly as we have introduced. Our company also introduces many high-yield properties in the Tokyo metropolitan area and three prefectures, so if you are interested, please take a look!

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References

[Note 1] "The rent will be cheaper, but... things to keep in mind when choosing a property far from the station" | Uchicomi! Times
https://uchicomi.com/uchicomi-times/category/rent/roomsearch/15172/

[Note 2] "Advantages and disadvantages of living in a property far from the station" | LIFULL HOME'S
https://www.homes.co.jp/cont/money/money_00519/

[Note 3] "How comfortable is a property 15 minutes' walk from the station?" | LIFULL HOME'S
https://www.homes.co.jp/cont/money/money_00522/

[Note 4] "Is walking distance to the station really important? I tried living in a property that was a 15-minute walk from the station" | Rakumachi (Real Estate Investment Newspaper)
https://www.rakumachi.jp/news/practical/316072

[Note 5] "How many minutes walk from the station is comfortable to live in? A 15-minute walk is a good guideline" | Kanagawa Prefecture Housing Supply Corporation
https://www.kousha-chintai.com/blog/knowledge/station-walk-how-minutes.php

[Note 6] "Testing whether an area 15 minutes' walk from the station can become a 'popular property' - An apartment exclusively for people living with cats is fully booked!" | Rakumachi (Real Estate Investment Newspaper)
https://www.rakumachi.jp/news/column/207196

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