How to Increase Your Rental Yield? The Ultimate Guide for Real Estate Investors
The Most Expensive Rental Home in The Hague: €12,000 per Month
THE HAGUE – It's quite a hefty price, but you do get something for it. At Lange Voorhout 78, a property is available for rent for €12,000 per month, excluding utilities like gas, electricity, and water. This may very well set a new record, says the NVM (Dutch Real Estate Association). "But it’s one of the most desirable locations in The Hague," says the realtor. Despite this, there hasn’t been an overwhelming response. Although there have been several viewings ("some scammers among them"), the prestigious property is still unoccupied after a few months.
Manon de Lange (44), the owner of The Hague Real Estate Services, is known for her cheerful demeanor. Her office, with a team of five staff members, is just around the corner from Lange Voorhout, at the equally grand Koninginnegracht. After ten years in the housing market, she’s seen it all, but renting out a property like this is something special. "Usually, I deal with properties that go for about €5,000 a month."
However, occasional exceptions do pop up. "Recently, I rented out a luxury penthouse on Duinweg in Scheveningen for €17,000 per month, including service charges." Nonetheless, the price for this 1800s building on Lange Voorhout is no small feat. "But it’s the best spot in The Hague. From the living room, the finest spot in the house, you can look out and see the crocuses in bloom on Lange Voorhout."
A Royal Refuge
The property from 1800 has a unique history. Between 1871 and 2017, it was owned by the royal family, who used it as one of the most luxurious refugee shelters ever. In 1958, Queen Wilhelmina made it available to elderly stateless refugees, mostly from Belarus. Since then, the building has been known as "the Russian House."
The Oranje Nassau family no longer owns it. "Who the landlord is now? An investor. But I’m not allowed to reveal his identity. He prefers to remain anonymous." However, she can tell you what’s included in the price: "Eight bedrooms, three bathrooms, a kitchen for the staff, and a few workrooms."
Who Would Rent Something Like This?
A parking spot at Lange Voorhout isn’t included in the rent. "There are two spots at the back, on Smidswater. But if you're an ambassador, you’ll probably be able to get a special spot with a sign in front," De Lange says. That’s part of her target audience. "We’ve contacted several embassies, but none have taken the bait."
What about a wealthy family? "No, for this amount, they’d prefer a detached house with a pool. Something a bit more luxurious. The bathrooms here are very nice, but not extravagant. And the kitchen is basic. But there’s a pantry for the nanny, and an elevator," she says enthusiastically. And the chandeliers, surely those stay for that price? There’s a brief silence. "Well, we’ll work that out."
Manon Runs a Strict Screening Process
However, Manon doesn’t just let anyone rent from her. There’s a strict vetting process, based mainly on her intuition. "We often deal with scammers, corrupt individuals, and people who aren’t being honest. That’s why we’re tough to work with, and we operate differently than other realtors. If our gut feeling tells us something is off, we don’t allow them to rent. Nine times out of ten, our instincts are spot on."
How does it work? "I always answer the phone myself. I can immediately tell whether someone is being sincere or not. Then, one of my team shows them the property. Afterward, we check their creditworthiness and review the paperwork. If it takes a while to receive the documents, that’s a red flag. If we get them immediately, it often means they’re not serious. It all comes down to intuition."
Scammers with Fake Documents
Scammers do indeed target these high-end properties. "Yes, they’ve tried. They pretend to be doctors and show us fake bank statements and employment contracts. But we’re very thorough. If even one detail is off, we catch them immediately."
It hasn’t always gone smoothly, though. "Early in my career, we rented out an apartment in The Hague, and the paperwork seemed perfect. But they turned the place into a marijuana farm. I lost sleep over that for nights. Fortunately, it hasn’t happened again. I feel a strong sense of responsibility. If we place the wrong tenant, it causes trouble for me. I want to ensure the owner is happy, and when they are, I am too."
More Expensive Properties for Rent
Now, the goal is to make the owner of the property at Lange Voorhout happy. But will it happen soon? "No chance of housing subsidies here," she laughs. A discount, maybe? "No, we don’t do that. But you can always try to negotiate."
If not, there’s always an alternative in Wassenaar. A stately villa on Rijksstraatweg is also available for €12,000 per month. But we unfortunately can’t share more details. Both the owner and the rental agent have kindly declined to participate in this article.
Exceptional Prices
Such prices are rare in our region, says Jan Kokje, the chairman of the Haaglanden branch of NVM. "No, you almost never see this. The maximum here is usually around €8,000 to €9,000, maybe €10,000. We're talking about very large houses in Wassenaar. And there are very few people with that kind of budget."
In the higher price range, you’d typically pay around €4,000 in The Hague, says Kokje. "That would get you a family home in a prime location like Statenkwartier or Archipel." He believes the rent for the property on Lange Voorhout could very well be a record.
It Can Always Get Crazier
However, The Hague is not the frontrunner. In Rotterdam, there is currently a house for rent for… €29,000 per month. "That seems a bit excessive to me," Kokje says. "Well, you can list anything for rent. But whether it actually rents out is another question. Asking is free, of course."
