PROPERTY FEATURES
Asking price
€ 449.000
Rent P.A.
€ 28.560
Size
85 m2
Yield
6.4 %
OPTION

Drinkwaterweg 407, Rotterdam, The Netherlands

Property Description
Room rental apartment with an area of 85m² (according to BAG) located 300 meters from the Erasmus University. The property has four bedrooms, living room, balcony, storage room and equipped with two bathrooms. The location is highly sought after by students of Erasmus Woudesteijn, Rotterdam School of Management, Rotterdam University and Rotterdam Business School.
Room rental permit on the property, for up to four residents.

Additional info: 
  • Turn Key: the apartment is fully furnished, upholstered and equipped (kitchen, dishwasher, washing machine, vacuum cleaner, etc). Allows for a higher rental rate and minimizes moving-in issues, this is in everyone's best interest.
  • Landlord has deliberately chosen to rent to internationals. 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 Rotterdam is much greater than supply and will remain so in the near future. As a result, concluding one-year leases is in many points very much in the landlord's interest. Inappropriate 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)
  • Rent is on the basis of basic rent (including water and internet) but excluding gas and electricity. For this, the apartment group will conclude its own supply contract. M2 administrator will take care of the rest.
  • The seller offers the buyer the services of the current M2 StudentHousing.nl administrator 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's possible, but it's up to the buyer and M2 manager to come to that agreement.
  • Communication with tenants takes place through 1 contact person, and the rent is paid monthly in its entirety from one bank account. There is room for increase at next rent change in August 2022.
  • A one-year contract is a deliberate choice of the landlord and is an offer of strength, not weakness. 
  • Rental permits will not be issued again in 2021/2022, and the expectation for after that is low. So this property is a unique and sound investment. Demand will continue to be high in the target group of internationals (students and young professionals).
  • Highly sought after location for both rental and purchase. View of the Rotterdam skyline and the river Maas and fifteen minutes by bike from the center. The Erasmus University is three minutes away by bike.
  • If Feyenoord City is built on the other side of the river Maas, it will have an enormous effect on prices.
Current rent payments: € 28.560 basic rent per year.
Prognosis rent per Aug 2022: € 31.100,- per year.

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