PROPERTY FEATURES
Asking price
€ 428.000
Rent P.A.
€ 27.240
Size
93 m2
Yield
6.4 %
SOLD

Weteringstraat 361, Rotterdam, The Netherlands

Property Description

Room rental flat of 93m2 (according to BAG) in very popular neighbourhood Kralingen, the student area of Rotterdam and surroundings. Private entrance, two floors and four bedrooms & living room, two toilets, double glazing. Room rental permit on the premises, for max. four students. Also a notification of fireproof use filed.      

Extra info: 

  • Turn Key: the flat is fully furnished, upholstered and equipped (kitchen, washing machine, hoover, etc). Allows for a higher rental price and minimises moving-in costs, this is in everyone's interest.
  • Landlord has deliberately chosen to rent to international students & young professionals. In contrast to NL tenants, rental yield is maximum and tenant inconvenience minimal. Also, infinite rent is prevented, so landlord remains in control. Demand for this type of housing in Kralingen is much greater than supply and will remain so for the foreseeable future. As a result, concluding one-year leases is in many respects 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 maximising rental income per m2 and is in the form of 'flat group rental': a group of study mates (flatmates) rent the entire flat, NOT rooms. All names are on the rental contract, everyone signs and everyone is jointly and severally liable. Works exceptionally well: since 1999, vacancy and loss of rent due to rent arrears has been less than 0.1%.
  • The rental contract deliberately runs for 12 months from 1 August to 31 July and cannot be shortened. If an individual flatmate wishes to move during the contract period, the others have to take care of a replacement. (This is considered a favour rather than an obligation).
  • Rent is on the basis of basic rent (incl. water & internet) but excluding gas & electricity. For this, the apartment group will conclude its own supply contract. M2 will take care of the rest.
  • The seller offers the buyer the services of the current M2 StudentHousing.nl administrator free of charge. This until 5 months after purchase. This is to let the conversion run smoothly, to have no disruption in the renting process, to avoid nervousness among the tenants, and to allow the new landlord to settle into his role. This offer is a favour. Should not be, may be. Perhaps after this period, the purchaser would like to continue with this M2 manager. That's possible, but it's up to the buyer & M2 manager to come to that agreement.
  • Communication with tenants takes place via one contact person, and the rent is paid monthly in its entirety from one bank account. There is room for an increase at the next rent change in August 2022.
  • Room rental licences are no longer issued in Kralingen, so this property is a unique and sound investment. Demand will continue to be high in Kralingen.
  • Highly sought after street for both rental and purchase: average € 4350 per m2 in vacant possession, which comes down to € 405,000 KK

Current rent prices up to 31 Aug 2022: € 2270 p.m. Forecasted rent prices per 1 Sept 2022: € 2480 p.m.

Asking price is € 428,000 KK 

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

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