An introductory guide on what to do, what not to do and with various recommendations and links.
Amsterdam, Noord-Holland, Netherlands
- Historically, the core of the city of Amsterdam has been the most lucrative area for real estate investors.
- The combination of high yields, as a function of a near-permanent shortage of rental homes, and continued appreciation of all real estate, make for extraordinary returns to the prudent investor.
- Acquiring such properties now, ahead of the next boom, should be a strategy of all seeking a long-term investment in Amsterdam real property.
The city of Amsterdam is known by many as a centre for culture, tourism, the arts, entertainment and a diverse history.
- However, Amsterdam's ZUIDAS (South Axis) is a major, modern centre of international business. Its location, just South of the old city, provides the perfect infrastructure with easy access to the airport (Schiphol), to the highway system and to all forms of public transport.
- To add a parcel of this booming area to one's portfolio, makes sense.
New residential areas, somewhat styled to the tastes of the historic centre, surround the original city.
- With near-zero vacancy rates and waitlists in all parts of the city, it would make nothing but sense to add recent residential construction to one's portfolio.
- Lardlords can pick and choose the most suitable tenants, due to the enduring housing shortage.
The movement of capital is sometimes suspicious. Governments are alert on Proceeds of Crime activities and Terrorist Financing.
Pas op voor geld dat verdiend werd met misdaad. Let ook op de anti-terrorisme maatregelen. Het witwassen van geld is strafbaar.
Race through various aspects of finance, business and read about the vicissitudes of life in a country your're not "from".
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Clearly, the city of Amsterdam is known the world over. It's a haven of eclectic freedom and an unbeaten wonder of architectural and cultural splendour.
The city is also a developing investment opportunity. A three-pronged investment strategy for Real Property in Amsterdam would include:
To buy now and sell tomorrow or soon thereafter may sometimes yield a pleasant return. It is, however, not our field of operation. We wish to share long-term goals with you:
Obviously, that is not the modus operandi we recommend. To manage any real estate portfolio, no matter where, requires careful planning and continuing oversight. We believe that it's prudent to view tenants, even in a heated market like the one in Amsterdam, as clients that need to be catered to at (almost) all times.
Many property management companies are available. We know the market to the point that we are comfortable making certain recommendations in that regard. You may retain one of those recommended management companies, you can select your own, you can do your own management or you can let us handle the management details for you.
What a good manager will do for you (the property owner) is multifold. The most important item on the list is, of course, to rent out the property and keep the tenant happy so they can be retained for a long time. Other than that:
Probably the most remarkable feature of the Amsterdam rental market (residential and commercial) is the tremendous market shortage. This problem has existed for as far as history goes back - with various parameters contributing to its continuation. The problem has not got better and is not expected to improve over the next decades, if ever.
Where there is a continuing shortage of supply, tenants will generally accept conditions that otherwise would be unthinkable. Outside of the social housing market, there are virtually no legal restrictions as to what a landlord can demand. Interestingly, tenants will generally comply.
A landlord can legally ask for:
- Detailed income and employment statements, review of bank accounts, information from previous landlords, a credit check, tax information and accountants declarations;
- A security deposit of up to three month's rent; recurring service fees;
- Verification of identity (passport) and copies of bank cards;
- The tenant to supply flooring, painting, appliances, drapes, light fixtures and such;
- To refrain from smoking or keeping animals and to limit the numbers of occupants.
Since the landlord is so strongly in charge of the process, due to the market shortage, they can select the best possible tenant, reducing the chances of tenant damage, rent skipping, payment problems and vacancies in general.
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