Tools · Strategy & Yield

Minpaku (STR) Net-Yield Estimator

Short-term-rental headline numbers ignore the one constraint that decides everything: Japan's minpaku law caps you at 180 nights a year under the standard notification pathway. Put a property through the cap, the real cost lines, and a long-term-rental comparison to see what actually survives.

180
nights — the legal ceiling. Not 180 available nights — 180 nights of actual guest stays per calendar year. Once cleaning gaps, host policy and municipal rules bite, a realistic bookable ceiling is closer to 130–150 nights. Some wards restrict it further. How the cap works →
All-in price of the unit. ~¥32M is a typical central 1LDK.
Sets a directional ADR. Override the rate below.
Gross average daily rate, before OTA commission.
140
Capped at the legal 180. Model 130–150 to stay honest.
¥6k–12k per checkout for a 1LDK. Assumes a ~2-night average stay.
Passed through on the listing — offsets your cleaning cost.
15%
Airbnb + Booking.com blended typically 13–17%.
20%
A registered minpaku manager runs 18–22% if you're remote.
Utilities, internet, STR insurance, HOA/reserve, maintenance, tax prep — these barely move with occupancy.
What the same unit would let for on a normal lease.
¥3.21M
STR gross revenue / yr
¥0.4M
STR net operating income
1.2%
STR net yield
2.0%
Long-term rental net yield

Run the numbers above to see whether the cap leaves anything worth the work.

Defaults are illustrative, drawn from our own minpaku P&L coverage — directional, not a guaranteed outcome or investment advice.

Want this run on a specific unit and ward, with the building-bylaw and zoning checks a Tokyo-based insider actually makes before underwriting STR?

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The cap, the cost lines and the long-term-rental breakeven are worked through in The 180-Day Cap, the line-by-line minpaku P&L and why a 60% STR can lose to a 95% long-term rental. Rates by ward are in the ADR benchmarks.

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