Beleggingpand Oostzeedijk 164 D in Rotterdam verkocht

3/4/2024

The status of the investment property Oostzeedijk 164 D in Rotterdam has been changed to 'sold'.

This investment property was published on our platform in 06 december 2023. We congratulate the seller on the sale.

Asking price: € 450.000
Rental price: € 38.400

At the time of publication we used the following description:

Flat with room-rental permit. Located 500 metres from Erasmus University. Four bedrooms & living room, balcony front and back and basement storage. Location is highly sought after by students from RSM (Rdam School of Management), Erasmus Woudesteijn, Hogeschool Rdam and Rdam Business School. Room rental permit from Rotterdam municipality on the property, for four residents and they can register neatly.

Additional info:

Turn Key: the apt is fully furnished, upholstered and equipped (kitchen, dishwasher, washing machine, hoover, etc). This allows a higher rental price and minimises relocation problems, this is in everyone's interest.
Landlord has deliberately chosen to rent to internationals. Unlike NL tenants, the rental yield is maximised and tenant inconvenience minimal. Also, infinite rental stays are avoided, so landlord remains boss-in-home. The Demand for this kind of housing in Rotterdam far exceeds the Supply and will remain so for the foreseeable future. As a result, concluding one-year leases is in many ways very much in the landlord's interest. Unsuitable tenants can therefore be parted with but pleasant tenants can be offered a new contract.
This rental format aims to maximise rental income per sq m and is in the form of 'flatgroup rental'. A flatgroup is a group of fellow students (flatmates) and they rent the entire flat, i.e. NO rooms. Everyone is on the rental contract, everyone signs and everyone is jointly and severally liable. Works extremely well: since 1999, vacancy/loss of rent due to rent arrears has been less than 0.4%
Lease intentionally runs for 12 months from Aug 1 to July 31 and cannot be shortened. If an individual flatmate wants to move out during the contract period, the others have to provide succession. (This is considered a favour rather than an obligation)
Rental is on bare rent (incl. water & internet) but excluding gas & electricity. For this, the flat group will conclude its own supply contract. M2 manages this.
Vendor offers the buyer the services of current administrator M2 StudentHousing.nl free of charge. This until 3 months after purchase. This is to ensure a smooth conversion, no disruption in letting, no nervousness among tenants and to allow the new landlord to settle into his role calmly. This offer is a favour: must not, may not. Perhaps after this period buyer will want to continue with this manager M2, then it is further up to buyer and manager M2.
Communication with tenants will be via one contact person and if desired, the rent can be transferred monthly in its entirety from one bank account. There is scope for increase at next rent change in August 2024.
The one-year contract is a conscious decision by the landlord and is a strength offer, not a weakness offer.
Rental licences will not be issued in 2024/2025, and the expectation for after that is low. So this property is a unique and sound investment. Demand will be as high as ever in the target group of internationals (students and young professionals).
Highly desirable location for both rent and sale. The Student Hotel is around the corner and the Lusthofstraat (the heart of Kralingen) within walking distance.......Centre is 15 minutes away by bike and Erasmus 4 minutes.
Mortgage financing by seller negotiable

Current rent: € 38,400 basic rent per year.

Forecast rent per Aug 2024: € 39,600 bald rent per year.

An overview of the rental agreements is available on request.