Nomura Real Estate Partners Launches 're:Sati-Nas®' to Address Shortfalls in Condominium Repair Reserve Funds
Nomura Real Estate Partners has officially launched 're:Sati-Nas®,' a new service designed to resolve shortages in condominium repair reserve funds.
Nomura Real Estate Partners Co., Ltd. (Headquarters: Minato-ku, Tokyo; President: Kazuhiro Tomita; hereinafter 'the Company') is pleased to announce the official launch of its service to address repair reserve fund shortages in condominiums, now branded as 're:Sati-Nas®' (hereinafter 'the Service').
This service allows condominium management associations to safely postpone large-scale repair work by performing essential minimum maintenance and enrolling in a unique defect insurance policy developed by the Company in collaboration with an insurance provider, which includes a 5-year waterproofing guarantee. The name 're:Sati-Nas®' is derived from the Latin word 'sanitas' (meaning health/soundness) and incorporates the desire to 'create happiness,' symbolizing the service's goal of ensuring the safety and peace of mind of residents.
1. Background of the Service
According to a survey by the Ministry of Land, Infrastructure, Transport and Tourism, 36.6% of condominiums face a shortfall in repair reserve funds compared to their plans. For buildings over 30 years old, large-scale repair work often coincides with major equipment updates (such as plumbing, elevators, and sashes), increasing the risk of fund shortages. This service provides a solution by enabling the extension of the large-scale repair cycle, allowing associations to accumulate funds during the extended period.
2. Service Overview
Instead of adhering strictly to the original schedule for large-scale repairs, this service provides an integrated package of inspections, maintenance work, and a 5-year waterproofing guarantee. By performing only the minimum necessary maintenance to preserve the building's waterproofing performance, the timing of the full-scale repair can be safely extended. This helps avoid the need for emergency special assessments and allows for better financial planning.
3. Track Record and External Recognition
Since 2022, the service has been adopted by four condominiums (184 units total). It has been recognized by the Ministry of Land, Infrastructure, Transport and Tourism as a 'Model Project for Extending the Life of Condominium Stocks' for fiscal years 2022 and 2023, and received a category award in the 'Mansion Value-Up Award 2023' by the Japan Association of Condominium Management Companies.
This service allows condominium management associations to safely postpone large-scale repair work by performing essential minimum maintenance and enrolling in a unique defect insurance policy developed by the Company in collaboration with an insurance provider, which includes a 5-year waterproofing guarantee. The name 're:Sati-Nas®' is derived from the Latin word 'sanitas' (meaning health/soundness) and incorporates the desire to 'create happiness,' symbolizing the service's goal of ensuring the safety and peace of mind of residents.
1. Background of the Service
According to a survey by the Ministry of Land, Infrastructure, Transport and Tourism, 36.6% of condominiums face a shortfall in repair reserve funds compared to their plans. For buildings over 30 years old, large-scale repair work often coincides with major equipment updates (such as plumbing, elevators, and sashes), increasing the risk of fund shortages. This service provides a solution by enabling the extension of the large-scale repair cycle, allowing associations to accumulate funds during the extended period.
2. Service Overview
Instead of adhering strictly to the original schedule for large-scale repairs, this service provides an integrated package of inspections, maintenance work, and a 5-year waterproofing guarantee. By performing only the minimum necessary maintenance to preserve the building's waterproofing performance, the timing of the full-scale repair can be safely extended. This helps avoid the need for emergency special assessments and allows for better financial planning.
3. Track Record and External Recognition
Since 2022, the service has been adopted by four condominiums (184 units total). It has been recognized by the Ministry of Land, Infrastructure, Transport and Tourism as a 'Model Project for Extending the Life of Condominium Stocks' for fiscal years 2022 and 2023, and received a category award in the 'Mansion Value-Up Award 2023' by the Japan Association of Condominium Management Companies.