{"id":4443,"date":"2018-07-31T09:40:48","date_gmt":"2018-07-31T17:40:48","guid":{"rendered":"http:\/\/smartandresponsible.com\/blog\/?p=4443"},"modified":"2018-06-21T20:41:06","modified_gmt":"2018-06-22T04:41:06","slug":"re4","status":"publish","type":"post","link":"https:\/\/smartandresponsible.com\/blog\/re4\/","title":{"rendered":"\u4e0d\u52d5\u7523\u6295\u8cc7\u30b7\u30ea\u30fc\u30ba(\uff14)\u3000\uff0d\u4e0d\u52d5\u7523\u6295\u8cc7\u306e\u53ce\u76ca\u6027\u3092\u8003\u3048\u308b"},"content":{"rendered":"

\u30df\u30e5\u30fc\u30c1\u30e5\u30a2\u30eb\u30d5\u30a1\u30f3\u30c9\u306f\u3082\u3046\u3059\u3067\u306b\u6295\u8cc7\u3057\u3066\u3044\u308b\u304c\u3001\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u4e00\u90e8\u3068\u3057\u3066\u4e0d\u52d5\u7523\u3078\u306e\u6295\u8cc7\u3082\u8003\u3048\u3066\u307f\u305f\u3044\u3068\u3044\u3046\u65b9\u3082\u304a\u3089\u308c\u308b\u3067\u3057\u3087\u3046\u3002\u4e0d\u52d5\u7523\u6295\u8cc7\u3092\u8003\u3048\u308b\u30b7\u30ea\u30fc\u30ba\u5168\uff14\u56de\u3067\u304a\u5c4a\u3051\u3057\u3066\u304a\u308a\u3001\uff08\uff11\uff09\u3067\u306f\u3001\u30ec\u30f3\u30bf\u30eb\u7269\u4ef6\u3092\u8cfc\u5165\u3057\u5927\u5bb6\uff08\u30e9\u30f3\u30c9\u30ed\u30fc\u30c9\uff09\u306b\u306a\u308b\u306b\u3042\u305f\u3063\u3066\u3001\u5fc5\u8981\u3068\u306a\u308b\u30b9\u30ad\u30eb\u306b\u3064\u3044\u3066\u8003\u3048\u307e\u3057\u305f\u3002\uff08\uff12\uff09\u3067\u306f\u3001\u7269\u4ef6\u7ba1\u7406\u696d\u8005\u3078\u306e\u59d4\u8a17\u3001REIT\u3092\u901a\u3057\u3066\u306e\u4e0d\u52d5\u7523\u6295\u8cc7\u306b\u3064\u3044\u3066\u898b\u3066\u307f\u307e\u3057\u305f\u3002\u524d\u56de\uff08\uff13\uff09\u3067\u306f\u3001\u30ec\u30f3\u30bf\u30eb\u53ce\u5165\u3067\u30ea\u30bf\u30a4\u30e4\u30e1\u30f3\u30c8\u3092\u30b5\u30dd\u30fc\u30c8\u3059\u308b\u5834\u5408\u306e\u8003\u3048\u65b9\u306b\u3064\u3044\u3066\u8003\u3048\u307e\u3057\u305f\u3002\u4eca\u56de\u306f\u3001\u4e0d\u52d5\u7523\u6295\u8cc7\u306e\u53ce\u76ca\u6027\u3092\u6e2c\u308b\u305f\u3081\u306e\u6307\u6a19\u306b\u3064\u3044\u3066\u8003\u3048\u3001\u53ce\u76ca\u6027\u3092\u3069\u3046\u3068\u3089\u3048\u308b\u304b\u306b\u3064\u3044\u3066\u898b\u3066\u307f\u307e\u3059\u3002<\/p>\n

 <\/p>\n

\uff13\u3064\u306e\u6307\u6a19<\/h2>\n

\u4e0d\u52d5\u7523\u6295\u8cc7\u306e\u5229\u76ca\u306f\u3001\u5927\u304d\u304f\u4e8c\u3064\u306e\u8981\u7d20\u306b\u5206\u3051\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002\u3072\u3068\u3064\u306f\u6708\u3005\u5165\u3063\u3066\u304f\u308b\u30ec\u30f3\u30bf\u30eb\u53ce\u5165\u3067\u3001\u3082\u3046\u3072\u3068\u3064\u306f\u7269\u4ef6\u306e\u5024\u6bb5\u4e0a\u6607\u306b\u3088\u308b\u30ad\u30e3\u30d4\u30bf\u30eb\u30b2\u30a4\u30f3\u3067\u3059\u3002<\/p>\n

\u3082\u3061\u308d\u3093\u3069\u3061\u3089\u3082\u898b\u8fbc\u3081\u308b\u7269\u4ef6\u304c\u3088\u3044\u7269\u4ef6\u3067\u306f\u3042\u308a\u307e\u3059\u304c\u3001\u3069\u3061\u3089\u306b\u91cd\u70b9\u3092\u304a\u3044\u3066\u671f\u5f85\u3059\u308b\u304b\u306f\u6295\u8cc7\u3059\u308b\u4eba\u306b\u3088\u3063\u3066\u7570\u306a\u308b\u3067\u3057\u3087\u3046\u3002\u4e0d\u52d5\u7523\u304b\u3089\u306e\u53ce\u5165\u3067\u8001\u5f8c\u306e\u751f\u6d3b\u3092\u30b5\u30dd\u30fc\u30c8\u3057\u305f\u3044\u4eba\u306a\u3089\u3070\u3001\u6708\u3005\u3069\u306e\u304f\u3089\u3044\u306e\u5b9f\u5165\u308a\u304c\u3042\u308b\u306e\u304b\u3068\u3044\u3046\u30ec\u30f3\u30bf\u30eb\u53ce\u5165\u306e\u5927\u304d\u3055\u306b\u7126\u70b9\u3092\u5f53\u3066\u307e\u3059\u3002\u305d\u308c\u3068\u306f\u4e21\u6975\u7aef\u306b\u4f4d\u7f6e\u3059\u308b\u306e\u304c\u30d5\u30ea\u30c3\u30d7\u6295\u8cc7\u5bb6\u3067\u3001\u30ec\u30f3\u30bf\u30eb\u53ce\u5165\u306b\u306f\u5168\u304f\u8208\u5473\u304c\u306a\u304f\u3001\u5b89\u304f\u8cb7\u3044\u7d20\u65e9\u304f\u624b\u3092\u5165\u308c\u3059\u3050\u306b\u58f2\u308b\u3053\u3068\u3067\u5927\u304d\u306a\u30ad\u30e3\u30d4\u30bf\u30eb\u30b2\u30a4\u30f3\u3092\u72d9\u3044\u307e\u3059\u3002<\/p>\n

\u4f55\u306b\u30d5\u30a9\u30fc\u30ab\u30b9\u3092\u5f53\u3066\u3066\u53ce\u76ca\u6027\u3092\u307f\u305f\u3044\u304b\u3067\u3001\u4f7f\u3046\u6307\u6a19\u3082\u7570\u306a\u3063\u3066\u304f\u308b\u308f\u3051\u3067\u3059\u304c\u3001\u4e0d\u52d5\u7523\u6295\u8cc7\u306e\u5229\u76ca\u7387\u3092\u6e2c\u308b\u305f\u3081\u306b\u4f7f\u308f\u308c\u308b\u6307\u6a19\u306e\u4ee3\u8868\u7684\u306a\u3082\u306e\u4e09\u3064\u306b\u3064\u3044\u3066\u898b\u3066\u307f\u307e\u3059\u3002CAP\u3001ROI\u3001IRR\u3067\u3059\u3002<\/p>\n

CAP<\/h3>\n

\u77ed\u304fCAP rate\u3068\u547c\u3070\u308c\u308b\u307e\u3059\u3002Capitalization rate\u306e\u7565\u3067\u3001\u4ee5\u4e0b\u306e\u8a08\u7b97\u5f0f\u3067\u6c42\u3081\u3089\u308c\u307e\u3059\u3002<\/p>\n

CAP rate\u3000\uff1d\u3000\u5e74\u306e\u30ec\u30f3\u30bf\u30eb\u7d14\u5229\u76ca\uff08\u7d4c\u8cbb\u5dee\u5f15\u5f8c\uff09\u3000\u00f7\u3000\u7269\u4ef6\u4fa1\u683c<\/p>\n

\u3044\u304f\u3089\u306e\u7269\u4ef6\u3067\u3001\u3044\u304f\u3089\u304f\u3089\u3044\u306e\u30ec\u30f3\u30bf\u30eb\u7d14\u5229\u76ca\u3092\u751f\u3080\u304b\u30fb\u30fb\u3092\u6e2c\u308a\u307e\u3059\u3002<\/p>\n

\u5e02\u5834\u4fa1\u683c\u3088\u308a\u5b89\u304f\u8cb7\u3048\u308b\u7a74\u5834\u7269\u4ef6\u3067\u3001\u30d7\u30ed\u30d1\u30c6\u30a3\u7a0e\u3084\u30e1\u30f3\u30c6\u306a\u3069\u306e\u7d4c\u8cbb\u3082\u5b89\u304f\u3001\u305d\u306e\u5272\u306b\u306f\u6052\u5e38\u7684\u306b\u9ad8\u3044\u30ec\u30f3\u30c8\u3067\u8cb8\u3057\u51fa\u305b\u305d\u3046\u306a\u5bb6\u306fCAP rate\u304c\u9ad8\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n

ROI<\/h3>\n

CAP\u306f\u8cfc\u5165\u4fa1\u683c\u3057\u304b\u8003\u616e\u306b\u5165\u308c\u307e\u305b\u3093\u304c\u3001ROI(Return on Investment)\u3068\u3044\u3046\u306e\u3082\u3042\u3063\u3066\u3001\u3053\u3061\u3089\u306f\u3044\u304f\u3089\u30dd\u30b1\u30c3\u30c8\u304b\u3089\u51fa\u3057\u305f\u304b\uff08\u982d\u91d1\uff09\u3092\u3082\u3068\u306b\u8003\u3048\u307e\u3059\u3002<\/p>\n

ROI\u3000\uff1d\u3000\u5e74\u306e\u30ec\u30f3\u30bf\u30eb\u7d14\u5229\u76ca\uff08\u7d4c\u8cbb\u5dee\u5f15\u5f8c\uff09\u3000\u00f7\u3000\u982d\u91d1<\/p>\n

CAP\u3068\u306e\u9055\u3044\u306f\u3001ROI\u306f\u3001\u30e2\u30fc\u30b2\u30fc\u30b8\u3067\u30ed\u30fc\u30f3\u3092\u7d44\u307f\u305d\u306e\u5229\u5b50\u7387\u3092\u4e0a\u56de\u308b\u53ce\u76ca\u7387\u3092\u751f\u3080\u3053\u3068\u3067\u3001\u5229\u76ca\u3092\u5897\u5f37\u3059\u308b\u5834\u5408\u306e\u53ce\u76ca\u6027\u3092\u898b\u308b\u306e\u306b\u5411\u3044\u3066\u3044\u308b\u3053\u3068\u3067\u3059\u3002\u30ed\u30fc\u30f3\u3092\u7d44\u3093\u3067\u306e\u6295\u8cc7\u306f\u4e00\u822c\u306b\u30ec\u30d0\u30ec\u30c3\u30b8\u3068\u3088\u3070\u308c\u307e\u3059\u3002\u624b\u6301\u3061\u73fe\u91d1\u306f\u5c11\u306a\u304f\u51fa\u3057\u3001\u30e2\u30fc\u30b2\u30fc\u30b8\u3092\u306a\u308b\u3079\u304f\u5b89\u304f\u7d44\u3093\u3067\u6295\u8cc7\u3057\u307e\u3059\u3002\u3044\u304f\u3089\u624b\u6301\u3061\u73fe\u91d1\u3092\u3060\u3057\u3001\u3044\u304f\u3089\u304f\u3089\u3044\u306e\u30ec\u30f3\u30bf\u30eb\u7d14\u5229\u76ca\u3092\u751f\u3080\u304b\u30fb\u30fb\u30fb\u3092\u6e2c\u308a\u307e\u3059\u3002<\/p>\n

IRR<\/h3>\n

\u3082\u3046\u3072\u3068\u3064\u3001IRR\uff08Internal Rate of Return\uff09\u3068\u3044\u3046\u306e\u3082\u3054\u7d39\u4ecb\u3057\u307e\u3057\u3087\u3046\u3002\u3053\u3061\u3089\u306f\u3001\u305f\u3068\u3048\u307010\u5e74\u306a\u308a20\u5e74\u306a\u308a\u306e\u671f\u9593\u3067\u3001\u7269\u4ef6\u3092\u8cb7\u3063\u3066\u30ec\u30f3\u30bf\u30eb\u53ce\u5165\u3092\u5f97\u3064\u3064\u3001\u6700\u7d42\u7684\u306b\u306f\u58f2\u5374\u3057\u30ad\u30e3\u30d4\u30bf\u30eb\u30b2\u30a4\u30f3\u3092\u5f97\u308b\u307e\u3067\u306e\u3059\u3079\u3066\u306e\u5229\u76ca\u3092\u8003\u616e\u3057\u307e\u3059\u3002\u3044\u304f\u3089\u73fe\u91d1\u3092\u6295\u8cc7\u3057\u3001\u3044\u304f\u3089\u306e\u30ec\u30f3\u30bf\u30eb\u53ce\u5165\u3092\u3082\u3089\u3044\u3001\u6700\u7d42\u7684\u306b\u3069\u308c\u3060\u3051\u306e\u30ad\u30e3\u30d4\u30bf\u30eb\u30b2\u30a4\u30f3\u3092\u5f97\u305f\u304b\u306e\u3059\u3079\u3066\u3092\u542b\u3093\u3067\u3001\u5e74\u5e73\u5747\u306e\u8907\u5229\u5229\u76ca\u7387\u3092\u8a08\u7b97\u3057\u307e\u3059\u3002\u682a\u5f0f\u3084\u50b5\u5238\u306a\u3069\u3068\u306e\u5229\u56de\u308a\u3068\u6bd4\u8f03\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u6307\u6a19\u3067\u3059\u3002<\/p>\n

IRR\u3000\uff1d\u3000\u7c21\u5358\u306a\u8a08\u7b97\u5f0f\u3067\u306f\u8868\u305b\u305a\u3001\u3059\u3079\u3066\u306e\u304a\u91d1\u306e\u51fa\u5165\u308a\u3092\u542b\u3081\u3066\u5e74\u5229\u3092\u8a08\u7b97<\/p>\n

\u3053\u306e\uff13\u3064\u306e\u3069\u308c\u304b\u306e\u6570\u5b57\u306f\u512a\u308c\u3066\u3044\u3066\u3082\u3001\u3069\u308c\u304b\u306f\u5168\u304f\u512a\u308c\u3066\u3044\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u306f\u5927\u3044\u306b\u3042\u308a\u5f97\u308b\u3053\u3068\u3067\u3001\u4e0d\u52d5\u7523\u6295\u8cc7\u3092\u3059\u308b\u306a\u3089\u81ea\u5206\u306f\u3069\u306e\u6307\u6a19\u306b\u91cd\u70b9\u3092\u7f6e\u3044\u3066\u8003\u3048\u305f\u3044\u306e\u304b\u3001\u3042\u308b\u3044\u306f\u4e0d\u52d5\u7523\u3068\u30df\u30e5\u30fc\u30c1\u30e5\u30a2\u30eb\u30d5\u30a1\u30f3\u30c9\u306a\u3069\u306e\u6bd4\u8f03\u3092\u3057\u305f\u3044\u306e\u304b\u306a\u3069\u3001\u81ea\u5206\u306e\u30cb\u30fc\u30ba\u3092\u306f\u3063\u304d\u308a\u3057\u4f7f\u3046\u3053\u3068\u304c\u5fc5\u8981\u3067\u3059\u3002<\/p>\n

 <\/p>\n

\uff13\u3064\u306e\u30b1\u30fc\u30b9<\/h2>\n

\u5b9f\u969b\u306b\uff13\u3064\u306e\u30b1\u30fc\u30b9\u3067\u5fdc\u7528\u3057\u3066\u307f\u307e\u3057\u3087\u3046\u3002<\/p>\n

\u7269\u4ef6A\u3068B\u3068C\u304c\u3042\u308a\u307e\u3059\u3002\u8cfc\u5165\u4fa1\u683c\u3084\u3001\u30ec\u30f3\u30c8(\u6708)\u3001\u8cbb\u7528(\u5e74)\u306e\u5404\u9805\u76ee\u306f\u4e0a\u8a18\u306e\u3068\u304a\u308a\u3002<\/p>\n

A\u306f\u3001\u5730\u65b9\u90fd\u5e02\u306e\u90ca\u5916\u306b\u3042\u308b\u30b3\u30f3\u30c9\u3067\u3001\u82e5\u3044\u30d7\u30ed\u30d5\u30a7\u30c3\u30b7\u30e7\u30ca\u30eb\u5c64\u304c\u597d\u3093\u3067\u4f4f\u3080\u30a8\u30ea\u30a2\u306b\u3042\u308a\u307e\u3059\u3002\u7269\u4ef6\u4fa1\u683c\u304c\u4f4e\u3044\u5272\u306b\u306f\u3001\u304b\u306a\u308a\u306e\u30ec\u30f3\u30c8\u304c\u898b\u8fbc\u3081\u307e\u3059\u3002\u30b3\u30f3\u30c9\u306e\u305f\u3081HOA\u306a\u3069\u304c\u3042\u308a\u307e\u3059\u304c\u3001\u7269\u4ef6\u4fa1\u683c\u304c\u4f4e\u304f\u73fe\u91d1\u3067\u8cfc\u5165\u3057\u305f\u305f\u3081\u30e2\u30fc\u30b2\u30fc\u30b8\u306e\u652f\u6255\u3044\u306a\u3069\u3082\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n

B\u306f\u3001\u4e2d\u90fd\u5e02\u306e\u4e00\u8ed2\u5bb6\u3067\u3059\u3002\u305d\u3053\u305d\u3053\u306e\u30ec\u30f3\u30c8\u304c\u5165\u308a\u3001\u8cbb\u7528\u3082\u305d\u308c\u306a\u308a\u306e\u7bc4\u56f2\u306b\u53ce\u307e\u3063\u3066\u3044\u307e\u3059\u3002\u30e2\u30fc\u30b2\u30fc\u30b8\u3092\u7d44\u3093\u3067\u8cfc\u5165\u3057\u305f\u306e\u3067\u6708\u3005\u306e\u652f\u6255\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n

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\"\"<\/p>\n

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\"\"<\/p>\n

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\"\"<\/p>\n

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