Oostzeedijk 164 D, Rotterdam, The Netherlands
Turn Key apartment with an area of 95 m² (according to BAG) in the center of Kralingen. The location is highly sought after by international students from Erasmus, Rotterdam Business School and Rotterdam School of Management.
The property has four bedrooms, a living room and dining area and a balcony. Room rental permit on the property, for up to four residents.
Rental legislation in Rotterdam has become stricter and rental permits are no longer issued. Partly for this reason a great opportunity to 100% legally rent out and make high ROI. Properties with rental permits are in demand again and are rising in value.
Therefore mortgage financing will not be a problem for real estate banks.
Turn Key: the apt is fully furnished, upholstered and equipped (kitchen, dishwasher, washing machine, entire inventory, appliances, etc.). This allows for a higher rental price and attracts the premium segment of tenants, who often have a budget of € 1000 pm.
Turn Key also minimizes move-in costs, etc. Easy In- Easy Out. this is in everyone's 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 study or professional colleagues (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 12 months from August to August and cannot be shortened. If an individual flatmate wants to move out during the contract period, the others have to take care of succession. (This is considered a favor rather than an obligation)
Rent is based on bare rent (incl. water & internet) but excluding gas & electricity. For this, the apartment group will conclude 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 3 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 it is up to the buyer & M2 manager to come to that agreement.
Communication with tenants is done through 1 contact person (and if desired, the monthly rent can be transferred in its entirety from 1 bank account). There is room for increase at next rent change in August 2022.
A 1-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 & sound investment. Demand will be unabatedly high in the target group internationals (students & young professionals).
Highly sought after street for both rental and purchase. Beautiful central location with public rental in front of the door, Kralingse Bos and Uni on walking distance and 5 min cycling distance from city center.
Current rent payments: € 2.845 total rent per month / € 34.140 total rent per year.
Prognosis rent payments per August 2022: € 3.050 basic rent per month / € 36.600 basic rent per year
An overview of the rental agreements and costs is available upon request.