Kortekade 39 A, Rotterdam, The Netherlands

Room rental property of 164m2 (according to BAG) in highly sought after area, three floors, private entrance and seven spacious bedrooms & living room, two shower rooms, turn/tilt windows double glazed. Room rental permit for up to seven students. Also notification of fire use filed.

Additional info:

• Turn Key: The property is fully furnished, upholstered and equipped (kitchen, washing machine, vacuum cleaner, etc). This allows for a higher rental price and minimizes moving-in, this 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's possible, but it's up to the buyer & M2 manager to come to that agreement.
• Communication with tenants is through one 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 2021.
• Room rental licenses 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 sale.....average € 4900 per m2 in vacant state.....that comes to € 804,000 k.k.

Current rent payments until 31 Aug 2021: € 46,620 basic rent per year.

Asking price is Factor 18 being: € 839.000 until 31 Aug 2021.

Projected rent per 1 Sept 2021: € 50.000 per year. As of 1 Sept 2021 asking price is € 901.000

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