Basic Philosophy on Social Considerations
As a member of society that interacts with various stakeholders, NAF recognizes that we can conduct our own sustainable business activities by fulfilling our social responsibilities.
NAF will continue to promote ESG management while valuing the trustworthy relationships we have established with our stakeholders and meeting their expectations.
For details, see Stakeholder Engagement.
Initiatives to Improve Tenant Satisfaction
The Asset Management Company strives to improve the security, safety, and comfort of NAF's assets under management and to improve tenant satisfaction.
Investment in High-Quality Rental Apartments
With regard to rental apartments, NAF's primary assets under management, we build our portfolio by placing the Park Axis series planned and developed by the Mitsui Fudosan Group at the core of brand strategy along with the Park Cube series which is similar in quality with the Park Axis series.
In order to enhance recognition and familiarity of the Park Axis and Park Cube series as high-quality residence brands in the rental apartment market, the Asset Management Company develops its brand strategy, including provision of superior quality over the long term to tenants, by collaborating with the Mitsui Fudosan Group.
Mitsui Rental Housing Park Axis Series (RESIDENT FIRST CO., LTD. website) Japanese only
Renovation of Common Areas
In order to maintain the asset value of assets under management over the long term, upgrading and renovations are implemented as necessary.
Provision of Security and Safety
NAF entrusts the property management of its assets under management to Mitsui Fudosan Residential Lease Co., Ltd. NAF collaborates with the company in conducting the following initiatives to improve security and safety for tenants.
We have set up an around-the-clock, toll-free number exclusively for tenants for responding to problems regarding building facilities such as water leakage.
Mitsui customer support center C-desk (Mitsui Fudosan Residential Lease Co., Ltd. website) Japanese only
We strive to provide information for security and safety to tenants by distributing disaster-response handbooks to tenants, in addition to opening a website offering information on local governments and disaster prevention to help them prepare for earthquakes and other disasters in advance.
Information for Security and Safety (Mitsui Fudosan Residential Lease Co., Ltd. website) Japanese only
※Mitsui Fudosan Residential Lease Co., Ltd. website
Tenant Satisfaction Surveys
Mitsui Fudosan Residential Lease Co., Ltd, the property management company, conducts periodic tenant satisfaction surveys in the form of questionnaires to improve management operations.
Survey design
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| Objective | Administered to assess tenant satisfaction, needs, etc. |
|---|---|
| Method | Online survey |
| Administered to | Number of tenants in properties managed by Mitsui Fudosan Residential Lease Co., Ltd.: 26,798 Includes all 10,587 tenants (as of the time of the survey) of assets under management by Nippon Accommodations Fund Inc. |
| Administration dates | February 19 to March 6, 2022 |
| Organization administering survey | Commissioned to external research firm |
Survey findings
Tenants occupying 2,251 units of the 10,587 units constituting properties owned by NAF replied to the survey.
(Response rate: 21.3%)
Profile of survey content (examples)
Satisfaction survey (ex. I): Satisfaction with the property management company (Mitsui Fudosan Residential Lease Co., Ltd.)
Some 75.4% of those responding to the survey selected one of the top two multiple choice options (1. Very satisfied or 2. Somewhat satisfied) with respect to their overall assessment of the quality of customer support provided by Mitsui Fudosan Residential Lease Co., Ltd. serving as the property management company.
Findings regarding quality of customer support with respect to “upkeep and management of entire building,” “support in addressing problems,” and “formalities and procedures” indicate no significant disparity between tenant expectations prior to taking up residence and tenant satisfaction subsequent to taking up residence.
Satisfaction survey (ex. II): Satisfaction with rental property
Tenants were generally satisfied with the rental properties, but deemed that kitchens and storage spaces are too small. In addition, about 20% of respondents indicated that their Internet connections are unstable or slow.
This table can be scrolled sideways.
| Lighting | Adequate (86.9%) |
|---|---|
| Elevator speed | Adequate (78.9%) |
| Size of kitchen | Adequate (52.3%) + Too small (47.5%) → 66.2% use cupboards |
| Size of sinks | Adequate (82.2%) |
| Size of modular bathroom | Adequate (79.9%) |
| Size of storage space | Adequate (52.4%) + Too small (47.4%) |
| Internet connection | Unstable (23.9%) / Slow (19.3%) |
| Bicycle sharing / Car sharing | 18.6% use bicycle sharing / 21.0% use car sharing |
Needs survey (ex. I): Tenant engagement in telework (changing tenant needs brought about by the COVID-19 pandemic) Some 57.1% of respondents engage in telework at least once per week.
Needs survey (ex. II): Awareness among tenants regarding their roles in helping to achieve a low-carbon society
NAF’s tenants are subject to lease agreements that ask them to make their best efforts to save electricity and reduce waste. In addition, NAF raises awareness regarding the need for tenants to conserve energy in their everyday lives in part by providing tenants with guidebooks distributed to them when they take up residence.
Through such initiatives, NAF intends to persistently monitor the extent to which awareness among tenants changes in terms of their role in helping to bring about a low-carbon society.
Findings of the survey indicate that 20.5% of respondents engage in lifestyles attuned to the need for decarbonization.
Moreover, this rate of engagement in environmentally-sound practices appears to be trending higher in step with levels of rents and annual household incomes.
Supply Chain Initiatives
Upon selecting/evaluating a supplier, which is important in NAF's asset management, NAF keeps in mind the promotion of sustainability throughout its supply chain by confirming the supplier's initiatives on social consideration/environment, etc. as well.
Furthermore, Mitsui Fudosan Residential Lease Co., Ltd. has a basic policy of prioritizing business continuity and early restoration in light of its social responsibility as a company that continually supplies buildings securely and safely. Such stance was recognized, and the company acquired "Resilience Certification" backed by the Japanese Cabinet Secretariat in August 2016.
News release concerning acquisition of Resilience Certification (Mitsui Fudosan Residential Lease Co., Ltd. website) Japanese only
Initiatives for Local Community
Cooperation in Local Events
At the Okawabata Apartment Communities, NAF has proactively cooperated in activities of the management association and strives to contribute to formation of a local community.
Installation of Share-Bicycle Ports
NAF has cooperated in installing bicycle ports for bicycle-sharing services at some of its assets under management, contributing to reduction of CO2 emissions as well as promoting health in the areas.
Shibaura Sanbashi Canal Cruise (Shibaura Cruise Program)
At Shibaura Island Air Tower, an asset under management, NAF has cooperated in/co-sponsored the "Canal Renaissance Program for Promoting Waterfront Vitalization" by Bureau of Port and Harbor, Tokyo Metropolitan Government, and contributed to revitalization of local communities, etc.
Shibaura Cruise Program (external website) Japanese only