First Introduction of External Manager Service 'PROTHIRD' for Condominium Management Associations to a Newly Built Condominium
Mitsubishi UFJ Trust and Banking's 'PROTHIRD', an external manager service for condo management, has been adopted for the first time in a new condominium by NTT Urban Development, solving the shortage of board members.
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- 📰 Published: March 31, 2026 at 19:00
- 🔍 Collected: April 1, 2026 at 13:39 (18h 39m after Published)
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Mitsubishi UFJ Trust and Banking Corporation (President: Hiroshi Kubota; hereinafter "Mitsubishi UFJ Trust and Banking") offers the external manager service "PROTHIRD" to solve social issues faced by condominium management associations, such as a shortage of board members. Recently, "PROTHIRD" has been selected to be adopted in the newly built condominium "Wellith Kyoto Higashiyama Gojo" (hereinafter the "Property"), currently being developed by NTT Urban Development Corporation (President: Yasushi Ikeda; hereinafter "NTT Urban Development"). This marks the first instance of an external manager service provided by a financial institution being introduced to a newly built condominium.
1. About the external manager service "PROTHIRD" for condominium management associations
"PROTHIRD", provided by Mitsubishi UFJ Trust and Banking, is a service where the bank concludes a "manager business consigment contract" with a condominium management association, taking over the duties and operations traditionally handled by a "board of directors" consisting of unit owners, acting as an "external manager."
Under the Condominium Ownership Act, condominiums must establish a management association. Typically, this operates under a "board of directors system" where board members are elected. However, with the diversification of unit owners and changes in working styles in modern times, the shortage of board members has become a social issue, demanding a change in the state of condominium management associations to adapt to the times.
"PROTHIRD" provides a neutral third-party financial institution—rather than a condominium management company or a unit owner—to serve as the manager in place of the board of directors. This resolves the challenges of the traditional operational method formed by unit owners, such as the uneven distribution of roles and burdens and securing operational continuity. It enables stable management association operations from a fair and highly transparent perspective, offering a new form of management association suited to "modern lifestyles and working styles" for unit owners and related parties.
2. Background of introduction to "Wellith Kyoto Higashiyama Gojo"
In the "Wellith" condominium brand provided by NTT Urban Development, unit owners have traditionally operated the management association via a board of directors system, with NTT Urban Value Support Inc. (a group management company headquartered in Minato-ku, Tokyo; President: Mikihiro Kitamura; hereinafter "NTT Urban Value Support") adopting a structure to support its operations.
For this Property, the external manager system will be adopted, introducing "PROTHIRD" in addition to the traditional board operation support by NTT Urban Value Support. As a result, the duties and management association operations previously handled by the board of directors comprising unit owners will be entrusted to Mitsubishi UFJ Trust and Banking, reducing the burden on unit owners. Additionally, by having a neutral third-party financial institution act as the manager instead of a management company or unit owners, stable operations can be achieved without being influenced by the attributes or circumstances of unit owners, even in condominiums expecting a diverse range of age groups, household structures, and living arrangements.
3. Future prospects
Following this first introduction to a newly built property, we plan to sequentially introduce the service to a total of 7 properties across 3 companies that have already unofficially decided on consignment. We will continue to collaborate with various developers to expand opportunities for providing the external manager service "PROTHIRD", regardless of the brand or scale of the condominium. Furthermore, we aim to carefully understand the unique characteristics and regional issues of each condominium to establish a highly effective operational support model.
And, facing social issues confronting existing management associations, such as a lack of willing board members and increasing operational burdens, we will closely align from a neutral standpoint as an external manager.
1. About the external manager service "PROTHIRD" for condominium management associations
"PROTHIRD", provided by Mitsubishi UFJ Trust and Banking, is a service where the bank concludes a "manager business consigment contract" with a condominium management association, taking over the duties and operations traditionally handled by a "board of directors" consisting of unit owners, acting as an "external manager."
Under the Condominium Ownership Act, condominiums must establish a management association. Typically, this operates under a "board of directors system" where board members are elected. However, with the diversification of unit owners and changes in working styles in modern times, the shortage of board members has become a social issue, demanding a change in the state of condominium management associations to adapt to the times.
"PROTHIRD" provides a neutral third-party financial institution—rather than a condominium management company or a unit owner—to serve as the manager in place of the board of directors. This resolves the challenges of the traditional operational method formed by unit owners, such as the uneven distribution of roles and burdens and securing operational continuity. It enables stable management association operations from a fair and highly transparent perspective, offering a new form of management association suited to "modern lifestyles and working styles" for unit owners and related parties.
2. Background of introduction to "Wellith Kyoto Higashiyama Gojo"
In the "Wellith" condominium brand provided by NTT Urban Development, unit owners have traditionally operated the management association via a board of directors system, with NTT Urban Value Support Inc. (a group management company headquartered in Minato-ku, Tokyo; President: Mikihiro Kitamura; hereinafter "NTT Urban Value Support") adopting a structure to support its operations.
For this Property, the external manager system will be adopted, introducing "PROTHIRD" in addition to the traditional board operation support by NTT Urban Value Support. As a result, the duties and management association operations previously handled by the board of directors comprising unit owners will be entrusted to Mitsubishi UFJ Trust and Banking, reducing the burden on unit owners. Additionally, by having a neutral third-party financial institution act as the manager instead of a management company or unit owners, stable operations can be achieved without being influenced by the attributes or circumstances of unit owners, even in condominiums expecting a diverse range of age groups, household structures, and living arrangements.
3. Future prospects
Following this first introduction to a newly built property, we plan to sequentially introduce the service to a total of 7 properties across 3 companies that have already unofficially decided on consignment. We will continue to collaborate with various developers to expand opportunities for providing the external manager service "PROTHIRD", regardless of the brand or scale of the condominium. Furthermore, we aim to carefully understand the unique characteristics and regional issues of each condominium to establish a highly effective operational support model.
And, facing social issues confronting existing management associations, such as a lack of willing board members and increasing operational burdens, we will closely align from a neutral standpoint as an external manager.