Bouwinvest’s reason for selling is that the homes no longer meet the intended return or the company’s strategy. The tenants’ association ‘HV Java’ represents all 705 rental homes that Bouwinvest owns on the island of Java and does not feel reassured about this. “We don’t know what will happen, but given that Bouwinvest does not consider it profitable, we can only fear that it will get worse and more indigenous people will leave,” says Treasurer Tom Spell.

Sabil has seen many residents of the island leave in recent years due to rent increases. Since 2021, the rent will not be increased because the government has intervened in the so-called maximum rent increase in liberalized rental agreements. If this law is not extended in 2024, Spell believes there is a good chance that a new investor will implement significant increases.

Although Bouwinvest has done the same thing before, the company hasn’t gone all the way. The tenants’ association sees a chance a new party will do just that: “Bouwinvest increased at an average of 4 percent annually from 2014 to 2020, while inflation was 1 percent. But according to the contracts of most of the tenants here, and the cashier said it could be worse. It could increase.” 5 percent inflation.

In addition, the association fears that tenants will be affected in other ways: “Not much can be changed in the leases, but there are other ways, for example by reducing operating costs or by rolling out sustainability plans abroad.”

average income

Karen Versteig has been living on the island for twenty years. Over the years, she’s also had to deal with rent increases: “I started at €850 and now I’m at 1,200.” If a new investor applies the rent increase again, you’ll have to leave. “This island used to be for middle-income people. But it won’t be any soon. It will keep me up.”

Bouwinvest says it’s not yet certain if the homes will actually sell. “It has not yet been determined whether we will also do this for all other homes and therefore also for related homes on the island of Java. However, we have informed the relevant tenants’ associations at an early stage that this opportunity exists, as we have agreements from contracts,” the spokesperson noted. Rent to all relevant tenants will of course continue to apply if we are to sell. If a sale is involved, the tenants and any tenants’ associations will be informed as soon as possible,” a spokesperson said.

However, according to Versteege and Snel, there is a task for politicians to counter this. PvdA leader Leanne Heinhuis also saw the issue as a reason to put questions to the Council of Municipal Councils and administrators. “I wrote a letter because we are concerned about the quality of life and affordability of homes. That way renters don’t know where they are. Furthermore, we want a mixed neighborhood and city living should not be possible only for the richest.”

You can’t live in nonsense

Heinhuis sees the problem recurring in several places in the city. “We have a little bit of control over the sector. It would be interesting to see if these types of homes could be bought by a co-op. But since there is so little money there and with the municipality, those are not realistic scenarios. What you can do is make agreements.” “And it’s important that mid-market rents stay in the middle of the market and that top-of-the-line homes don’t sell out after a few years.”

And Versteig speaks clearly, too. “The city has been robbed by real estate investors. Maybe the municipality can say we’ll take something back. We’ll see if we can give something back to the city. Behind that you see the Jan Schaefer Bridge. This was someone who worked so hard for the housing shortage. You can’t live Its bullshit. I say, put it back on again.”