Leading Japanese income-producing property vertical RakuMachi.jp has introduced property transaction screening and penalty systems to check decoy ads and ensure fair market practices.

RakuMachi employs a separate examination department that periodically conducts investigations into property transactions to ensure that they comply with local law.s The department has released a three-month report (January-March) detailing actions taken against violators. Suspicious ads were removed or and offending users have been banned for life.

The government-backed Tokyo Metropolitan Real Estate Fair Trade Council (Tokyo Council) had previously called on sites like Homes.co.jpSuumo.jpAthome.co.jp, and Chintai.net to delete fake listings.

Real estate firm First Logic Inc. (TSE: 6037) launched RakuMachi in 2006 to meet the special needs of investors looking for profitable land and apartments. It currently lists around 73,368 investment properties.

Start-ups ReThink TokyoJikaPro, and PropertyAccess also deal in income-generating properties. Although they pose competition to RakuMachi, its real competitors are Suumo.jp and Lifull Homes, with their special category listings.

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