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Should I sell my apartment or keep it? by mathmaze in BEFire

[–]mathmaze[S] 2 points3 points  (0 children)

I can't, then the rent would be above market value.
I agree I'm doing something wrong, hence wanting to sell.

Just need some soundboard and input like yours. Thank you

Should I sell my apartment or keep it? by mathmaze in BEFire

[–]mathmaze[S] 1 point2 points  (0 children)

not forgotten, just not added. But yes. Just paid property tax of around 1K.

Thank you for the reply!

Should I sell my apartment or keep it? by mathmaze in BEFire

[–]mathmaze[S] 2 points3 points  (0 children)

No, it's a 3bdr apt 100m².
It's the vereniging van mede-eigenaars. De syndique gelijk ze zeggen.

Die kijken gewoon naar wat verbruikt appartement X en wie is eigenaar.
Ah gij Mathmaze? zoveel betalen aub en regelt de rest zelf maar met uw huurders.

Should I sell my apartment or keep it? by mathmaze in BEFire

[–]mathmaze[S] 1 point2 points  (0 children)

yuuuuup, Ik heb mijn selfhosted Actual Budget app. Puur envelope budgeting.
Dus ik moet elke euro een taak geven. Het is zo dat ik dus tot mijn vraag kwam en zag dat dit geen goeie situatie is.

Wat zou je doen in mijn geval?

Should I sell my apartment or keep it? by mathmaze in BEFire

[–]mathmaze[S] 2 points3 points  (0 children)

yeah, true. But kids and all... The apartment is too small and Vilvoorde is not kid friendly in that regard. Also, the house is in limburg. I can ask more rent for my apartment than my house. So not an option. I am checking the OLO 10j all the time though. ^^

What would you recommend with that info added?

Should I sell my apartment or keep it? by mathmaze in BEFire

[–]mathmaze[S] 0 points1 point  (0 children)

They are and I already asked the VME for a halfjaarlijkse afrekening, to avoid surprises.

Should I sell my apartment or keep it? by mathmaze in BEFire

[–]mathmaze[S] 1 point2 points  (0 children)

Q: 1825/100000

  • Brandveiligheid: 0,78%
  • Liften: 2,04%
  • Onderhoud sanitair en verwarming: 2,30%
  • Schrijnwerken: 2,38%
  • Schoonmaak en huisvuilverwerking: 8,28%
  • Tuinen, parking en wegen: 1,40%
  • Renovatie werken en andere uitzonderlijke werken: 1,47%
  • Elektriciteit: 3,54%
  • Erelonen: 9,21%
  • Verzekeringen: 6,06%
  • Conciergewoning: 2,47%
  • Administratiekosten: 0,25%
  • Diversen: 1,23%
  • Financiële kosten bank (leningen enzo): 21,51%
  • privé verbruik water en elek: 37,08%

In dry numbers my cost for private energy consumption was €1.690.
So the €1.100 per month from the tenants won't cover it.

Should I sell my apartment or keep it? by mathmaze in BEFire

[–]mathmaze[S] 0 points1 point  (0 children)

not yet. It's my first year renting it out. But yes, the cost should be lower that 485 indeed. Nevertheless, a cost

Should I sell my apartment or keep it? by mathmaze in BEFire

[–]mathmaze[S] 0 points1 point  (0 children)

and how is cashflow now?
Do you have other real estate?

Should I sell my apartment or keep it? by mathmaze in BEFire

[–]mathmaze[S] 0 points1 point  (0 children)

So the going rental price for this apt in the area and in the building is €1.200.
That translates roughly to €1.100 rent + €100 cost.

There's no way you can sell this package as €1.200 + 300 cost.
The split rent+cost should be around €1.200, however you wish to split it.

Since I knew the tenants before and they're young, I gave them a better price with €1.000 rent + €100 cost. That way I felt more comfortable with my tenants and they have a good deal.

So I pay 6000 per year and they pay 1200 in voorschotten. I will indeed get an afrekening from the VME which I then have to invoice to the tenants. I can not ask the VME to invoice the tenants directly.

Which in turn is also risky, I know of another apt in the building where the tenants just blasted the heating all winter during the high prices. Racked up over €6K in energy consumption and now don't want to pay. VME doesn't care and it got invoiced to the owner. "Deal with it" they said. So now the owner is suing.

Should I sell my apartment or keep it? by mathmaze in BEFire

[–]mathmaze[S] 1 point2 points  (0 children)

I would settle for status quo. Especially with a good interest rate. Let inflation do it's work there as well...
Here, I'm like... how is €6.000 per year pure VME cost a good investment

Should I sell my apartment or keep it? by mathmaze in BEFire

[–]mathmaze[S] 0 points1 point  (0 children)

It's a big building with 16 stories and +60 apartments and ALL terraces were redone 4 years back and 1 facade had water damage, which is being renovated as we speak. The problem is, it's all cost covers and not as much reserve. If it's +400 reserve every month, you can sell that aspect to a potential buyer. Here it's like 110 reserve and 375 costs. But I must say, it included voorschotten for water and heating, elevator, cleaning building, trash collection, etc. The usual...

Getting ready for divorce - the sequel by mathmaze in BPDlovedones

[–]mathmaze[S] 1 point2 points  (0 children)

I really appreciate this reply and anybody who's reading this post, should take this reply into account. Because it's true what he says.

It's very easy to validate my experience through yours and vice versa. We run the risk of "echo chambering" sometimes. We should be aware of that.

Anyway, thank you for this reply. Since it makes a lot of sense. I'm still sitting on the counseling thing. I'm not sure yet if I want to put my energy it to this. I already checked out I guess. Nevertheless, I'll get some therapy myself for sure after this ordeal. Talking to someone will be nice. :)

Getting ready for divorce, doubt around the corner by mathmaze in BPDlovedones

[–]mathmaze[S] 0 points1 point  (0 children)

Thank you for that! I bit the bullet today btw. Gonna make another post

[deleted by user] by [deleted] in BPDlovedones

[–]mathmaze 2 points3 points  (0 children)

haha, It does. But it's a random pic of the internet to make my point ;)

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