PROPERTY FEATURES
Asking price
€ 529.000
Rent P.A.
€ 33.240
Size
118 m2
Yield
6.3 %
OPTION

1e Jerichostraat 32 A3Rotterdam, The Netherlands

Property Description

Room rental Apartment of 112m2 (according to BAG, measurement architect: 118m2) in A-location, five bedrooms & living room. Room rental permit (2015) for rent to up to five non-family pers. Also notification fire safe use submitted by construction manager architectburo Kei Ontwerp.

Additional info:

  • Turn Key: the apartment is fully furnished, upholstered and equipped (kitchen, washing machine, vacuum cleaner, etc). This allows for a higher rental price and minimizes moving-in, which is in everyone's interest.
  • The property is offered 'as is, where is'. Also, all fixtures, fire protection, furniture, beds, cabinets & kitchen appliances are included in the price.
  • Landlord has deliberately chosen to rent to international students & young professionals. Unlike NL tenants, rental yield is maximum and tenant inconvenience minimal. Also, infinite rental stay is prevented, so landlord remains in charge. Demand for this type of housing in Kralingen is much greater than supply and will remain so in the near future. This makes the conclusion of one-year leases in many ways very much in the landlord's interest. Unadjusted tenants can be said goodbye to, but pleasant tenants can be offered a new contract.
  • This rental format is aimed at maximizing rental income per m2 and is in the form of 'flat group rental': a group of fellow students (flatmates) rent the entire apartment and therefore NO rooms. All names are on the lease, everyone signs and everyone is jointly and severally liable. Works exceptionally well: since 1999, vacancy rates and loss of rent due to rent arrears have been less than 0.1%.
  • The lease runs very deliberately for twelve months from August 1 to July 31 and cannot be shortened. If an individual flatmate wishes to move out during the contract period, the others must provide succession. (This is considered a favor rather than an obligation)
  • Rental is based on bare rent (incl. water & internet) but excluding gas & electricity. For this, the apartment group has its own supply contract. M2 manages this for them.
  • Seller offers the buyer the services of the current administrator M2 StudentHousing.nl free of charge. This up to five months after purchase. This to make sure the conversion goes smoothly, there is no disruption in the lease, no nervousness among the tenants occurs and the new landlord can settle into his role. This offer is a favor. Should not be, may be. Maybe after this period the buyer wants to continue with this manager M2. That is possible, but is further up to the buyer & M2 manager to come to that agreement.
  • Room rental permits are no longer issued in Kralingen, so this property is a unique & sound investment. Demand will continue to be high in Kralingen.
  • Highly sought after street for both rental and purchase, minimum € 4200 per m2 in vacant, which comes down to € 482,000 

Current rent payments until July 31, 2021: € 33.240 per year. Asking price is Factor 16, being € 529.000 until 31 July 2021.

Forecasted rent per 1 Aug 2021: € 34.100 per year. As of 1 Aug 2021 asking price is € 547.000.

An overview of the rental agreements and costs are available on request.


 


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