Investor Presentaiton
Operation Status of Residential Properties
Daiwa House REIT Investment Corporation
Operation Status
Period average occupancy at 97.3%, above forecast of 96.5%
Performed major renovations for 5 properties
Rents
Monthly rent at tenant replacement increased for 8 consecutive periods
Monthly rent +2,529 thousand yen, or +2.4% vs before replacement
Performed upgrade work for 11 units of 6 properties
→ Contracts signed for 6 units at end of period
with 11.7% increase in rents
Monthly Rent at Tenant Replacement
(Ratio of the number of tenant replacement)
Rent increase
No change
Rent decrease
100%
26.7%
17.3%
20.8%
21.2%
21.4%
80%
60%
39.5%
29.0%
25.5%
15.0%
33.1%
40%
20%
40.2%
43.2%
50.1%
53.4%
63.6%
0%
Aug. 2017
Period ended Period ended Period ended Period ended Period ended
Feb. 2017
Feb. 2018
Unit Type
(number of units basis)
Master Lease Type
(annual rent basis)
Change in rent
(thousand yen)
Change in rent
Number of
replacement
+856
+0.6 %
+1,667
+1,689
+1.3 %
+1.6 %
Aug. 2018
+2,598
+1.9 %
Feb. 2019
+2,529
+2.4 %
1,055 units
1,110 units
806 units
990 units
748 units
Average Monthly Rent
Compact type
Sublease type
(yen/tsubo)
(60m² or less)
20.8%
12,000
79.3%
11,500
Family type
Pass-through
11,509
11,558
11,564
11,614
11,655
■5 central wards of
Tokyo
38.2%
(more than
60m²)
20.7%
Area (acquisition price basis) Monthly Rent
(number of units basis)
11,000
type
10,500
79.2%
10,352
10,439
10,642
10,672
10,453
10,000
23 Wards
of Tokyo
72.0%
23 wards other
than 5 central
wards of Tokyo
33.8%
Greater Tokyo
area excluding 23
wards of Tokyo
11.3%
Monthly Rent
Less than
200,000 yen
86.0%
Less than 10k yen 30.1%
Less than 15k yen 32.2%
Less than 20k yen 23.6%
Less than 25k yen 9.2%
Less than 30k yen
2.8%
/ Upgrade Work
Before
Less than 50k yen
1.9%
50k yen or more
0.1%
Period ended Period ended Period ended Period ended Period ended
Feb. 2017
Feb. 2019
Aug. 2017
Feb. 2018
Aug. 2018
Average monthly rent of the properties held through Sep. 2016 to
Feb. 2019 (pass-through type only)
Average monthly rent
⚫ Changed room plan (removed partitions and changed Installed a new kitchen unit and moved space for
flooring materials)
a washing machine
After
After
Before
Other
16.7%
As of February 28, 2019
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