1. home and garden

Business Plan
2012 - 2015
1
Contents
Preface
3
1
Strategic Framework
1.1
Environment analysis: opportunities and risks
1.2
Internal analysis: strengths and weaknesses
1.3
Strategic choice
4
2
Expansion of Student Housing
2.1
Quantitative supply and demand
2.2
Qualitative supply and demand
7
3
Clients and Services
3.1
Housing requirements of students
3.2
Housing distribution
3.3
Vacancy policy
3.4
Rent policy
3.5
Livability
3.6
Communication
3.7
Sustainability
3.8
Client satisfaction
9
4
Cooperation
4.1
The strategic partner
4.2
Visitation
4.3
Stakeholder contribution
14
5
Organization and Employees
5.1
Specialism
5.2
Starting points, personnel policy
5.3
Core values
5.4
Assessment system
5.5
Personnel consequences of business plan
5.6
Staff satisfaction
5.7
Office building
5.8
Towards a sustainable organization
17
6
Long-term Safeguards
6.1 Starting points and parameters
6.2 Financial continuity
20
7
Risk
7.1
7.2
7.3
7.4
22
Management and Monitoring
Supply and demand, student housing
Government policy
Working with local strategic partners
Financial continuity
Appendices
1
Forecast of cumulative supply and demand student housing
2
Overview of subsidy-eligible rental prices Idealis housing units
3
Calculation of financial continuity
4
Planned performance during business plan period
5
Forecast scheduling of projects/activities
2
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26
27
28
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Preface
In this new business plan, based on student forecasts, we outline our intention to build a large number of
student housing units in the coming years. If the forecasts prove accurate, the number of Idealis housing
units is expected to increase by some 20 percent.
Idealis sees the increasing demand for student housing as an opportunity and as a major challenge. Our
new building plans, which will tie in with student housing requirements, call for smaller-scale, more
differentiated and more flexible housing. In this connection, we are especially focusing on self-contained
accommodations that will rent by the room, with shared facilities such as living room and kitchen. In the
long term, the accommodations could also house other focus groups. In this way, the quality of all
student housing in Wageningen and Ede will improve, while at the same time lowering our risks
(uncertain student forecasts with a fairly unbalanced housing stock).
Longer-term student forecasts are quite uncertain. The numbers of students and demand for rooms in
Wageningen could fluctuate strongly. For this reason, this business plan not only presents the
opportunities and intended investments, but also structural monitoring and risk management.
The differentiated, flexible new buildings we have realized in recent years (Nobelweg, Lombardi,
Burgtstraat) and the housing units now under construction (Nieuw Kortenoord, Rijnveste) illustrate the
very sound, unchanged basis of our strategy: to provide quality housing that fits the housing
requirements of students and young PhD students and, in the longer term, would also appeal to other
focus groups.
For its revenues, Idealis, which rents public-sector housing, depends almost exclusively on its rental
income. At the same time, we rent to a focus group that, generally speaking, has limited resources. In
part because of our aim to increase our new building projects substantially, we want to establish a rent
level that will make this possible, while keeping rents at affordable levels.
In the coming years we plan to switch in stages to a new type of housing distribution. Our focus group
(students and young PhD students), irrespective of nationality or study program – based on individual
housing requirements, lifestyle and financial resources – will be able to make specific choices from our
total housing on offer in the Wageningen/Ede region.
This business plan is the result of consultations with our main strategic partners, after presenting them
the general strategic framework. From these consultations, it is clear that there was general agreement
with the main outlines of policy.
Hans van Medenbach
Director, Idealis
January 2012
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1
Strategic Framework
1.1
Environment analysis: major opportunities and risks
Analysis of the major opportunities and risks for Idealis results in the following main themes.
Quantitative demand
Idealis sees the anticipated increase in demand for student housing in the coming years as an
opportunity to build different types of student housing. In the long term, (after 2025), the intake of
Dutch students will probably decline gradually. It is possible that there will be compensation for this in
Wageningen through an increase in international students.
Qualitative demand
Qualitative demand for student housing is strongly differentiated, not only as it relates to the
accommodation but also to living enjoyment and lifestyle. Idealis sees this differentiation for qualitative
demand as an opportunity. By aligning new buildings to the actual living requirements of students
wherever possible, the overall quality of student housing will further improve.
Strategic cooperation
New construction of student housing requires affordable locations for public housing. Plan development is
only possible when it fits local policy of housing and spatial planning. Safeguarding sufficient student
housing requires good cooperation with education and the municipalities. In addition, cooperation with
colleagues within the region and with other student housing associations (Kences) is important. Strategic
cooperation is a condition for realizing this business plan.
Uncertain student forecasts
Student forecasts are important for our strategy. In particular, they include national trends, strategic
decisions of educational institutions and internationalization. Idealis views the uncertainty of student
forecasts (and the related demand for student housing) as a given. Forecasts for international students
are even less certain than those for Dutch students. Changes in the number of students due to high
turnover have an almost immediate effect on supply and demand.
National government
The Rutte cabinet established the main policy outlines in the coalition agreement. For Idealis, the policy
themes of housing, education and energy are particularly important. This involves rent policy, rent
subsidies, laws and regulations in the area of real estate in general and student housing in particular,
grants and loans and internationalization of education. Idealis views government policy as a major risk.
Student housing is an indispensable factor for the development of a
knowledge-based economy.
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The economy
Interest and construction costs in particular constitute a general risk with a huge impact. In the future,
rising interest rates could result in higher financing costs, thereby reducing financial resources for new
buildings. Building costs directly affect investment costs. As a result of the current crisis, there is fierce
competition between construction firms and project developers. This is an opportunity for Idealis in
contracting out new building projects or systematic major repairs.
1.2
Internal analysis: main strengths and weaknesses
Specialist in student housing
Our specialism lies in renting living accommodations to students. Considering their limited incomes,
young people who go to Wageningen or Ede for their studies depend on subsidized housing. Idealis owes
its existence to housing this main focus group. Student housing entails an optimum combination of study,
housing and social contacts within the same town or city. Students make the average population of a
town smarter, younger and more vital.
For the development of knowledge clusters, which are extremely important for the economy and
employment, student housing is an indispensable, facilitating factor. Food Valley is a regional partnership
of eight municipalities. Within this region there is a unique collection of collaborating, food-related
knowledge centers, which are geared towards innovation of healthy, sustainable food and a further
strengthening of the position of this agrarian food center within Europe. For Idealis, this knowledge
cluster constitutes a favorable environment.
We are used to international client contacts, many moves in a short time span and specific attention for
social management and a pleasant, safe living environment. In Wageningen and Ede we hold a unique
position: Idealis is not an “ordinary” housing association, but rather a specialist in short stays. Idealis
also wants to utilize its management expertise in third-party real estate, both structural and temporary.
Our specialism and the flexible way in which we carry out our mission are an organizational strong point.
Mission statement
Idealis represents adequate housing of students and young PhD students from educational institutions in
Wageningen and Ede.
Financial continuity
Idealis also wants to offer housing to future generations of students. It is therefore fundamentally
important that, in the future, we remain a financially healthy organization that performs to the best of its
ability. Idealis has sufficient financial resources to realize the intended sizeable investments in building
new student housing units in the coming years. We therefore also view our financial scope as a strong
point.
Client satisfaction
Idealis measures client satisfaction on the basis of five aspects: Product, Price/Quality, Service Provision,
Personal Service and Reputation. We score “good” on these aspects, with the exception of Price/Quality,
where the average satisfaction is slightly lower: “reasonable/fair”. New Dutch tenants now also assess
Price/Quality as “good”. Idealis sees the scores from client satisfaction as a strong point.
Idealis specializes in renting living accommodations to students.
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Differentiated housing stock
A typical feature of older student complexes (those built in the 1970s and 1980s) is their large-scale
nature of both the complexes and the corridors/communes. About half of the Idealis rooms with shared
facilities are on corridors with 10 or more rooms. This large-scale student housing does not fully meet
housing requirements (students prefer groups of between four and seven tenants). Nor can these
complexes easily be converted to accommodate other focus groups. We see the current, rather
unbalanced housing stock as a weakness.
The rentability of our complexes is monitored via surveys and indicators, such as the average number of
responses to housing on offer. To reduce the imbalance of our housing stock (and with it, our
vulnerability), it was decided several years ago to undertake a drastic restructuring and quality
improvement. Examples are the new buildings of Nobelweg, Boomgaarden and Burgtstraat. Replacement
or supplementary new buildings are being built to rent by the room to students. However, in the long
term, sales or rental of completely self-contained accommodations should be possible. New student
housing at Kortenoord and Rijnveste will also primarily consist of ground-level accommodations for
smaller communal groups. Self-contained rooms and apartments are also being built.
1.3
Strategic choice
Our external and internal analysis results in a view of the mutual coherence of the main strengths,
weaknesses, opportunities and threats. This has resulted in the following strategic ambition.
Strategy
During the planning period of this business plan, Idealis will meet the increasing demand for student
housing, within the bounds of its financial resources.
New building, which will be geared towards the housing requirements of students, will be more small
scale, more differentiated and more flexible. In this way, the quality of all student housing in Wageningen
and Ede will improve, while risks (associated with uncertain student forecasts and fairly unbalanced
housing stocks) will be reduced.
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2
Expansion of Student Housing
2.1
Quantitative supply and demand
Based on its actual student forecasts, Wageningen UR calculates the demand for student housing
annually. Allowances are also made for the forecasts and housing demand of other educational
institutions. During the period through the end of the 2015/2016 academic year, we expect an increase
in demand for student housing in Wageningen of nearly 1,500 units (see appendix 1). In 2011,
Wageningen UR provided several hundred units for international students. However, this is only
temporary housing for a period of between five and ten years. By timely anticipation, Idealis wants to
play an active role in the replacement of these units. Further, we expect a slight increase in demand for
rooms in the private sector in Wageningen.
New construction of more than 1,100 units
Based on its mission and strategy, Idealis would like to anticipate the expected demand for student
housing to the best of its ability. Our intention is to realize more than 1,100 structural units through the
end of the academic year 2015/2016 in Wageningen (350 of which are replacements). In addition,
Woonstede housing association in Ede is building apartments that we will rent by the room to 250
students. Below is the planned investment in new buildings from 2011 to 2016.
Planned investment in new buildings, 2011-2016
Investments in new buildings
Number of
Year built
Available for occupancy
95
2011/2012
2012
Rijnveste
345
2011/2012
2013
Campus Ede (Woonstede)
250
2012
2013
Nobelweg
Approx. 150
2013
2014
Lawickse Hof (formerly vdKolk Nrd)
Approx. 150
2014
2015
Campus, replacement of WUR units
-250/+250
residential units
Nieuw Kortenoord
City center location, if feasible
Walstraat demolition/new building
Total new building units
*
2014
2015
75
2015
2016
-109/+85
2016
2017
Approx. 1,400
2011/2016
2012/2017
The year built will depend on the duration of the temporary town-planning exemption (at present, 5 years, possibly 10 years)
We refer expressly to “planned” investments in new buildings. The planning is updated annually on the
basis of the monitoring of the supply and demand situation and the financial continuity. This monitoring
process also takes place prior to any investment decision.
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Most students want a cozy environment, a relatively small communal
group and the right to choose their own co-tenants.
2.2
Qualitative supply and demand
In student housing quality refers to the accommodation, but also depends on living enjoyment and
lifestyle. Another factor is whether one wants to share facilities with other tenants. Most students want to
share a living room/kitchen with other tenants. Coziness, relatively small communal groups and the right
to choose one’s own co-tenants are desired. A minority of students with different housing requirements
consider it more important to have their own facilities.
Flexible uses of new buildings
New buildings for students should preferably be built with accommodations that can be rented by the
room, including shared facilities such as living room and kitchen. In the long term, if demand for student
housing should decline sharply, these accommodations would be suitable for renting or selling to other
focus groups.
In the coming years, no radical real estate measures will be taken with regard to existing rental units and
facilities. We expect continued operation of the current student complexes until at least 2025. An
exception is the Walstraat complex: to provide a sharp reduction in the upgrading costs, continued
operation will be limited to the end of 2015.
Systematic maintenance
With systematic maintenance of existing complexes, Idealis will maintain the customary quality of
maintenance and livability for its tenants.
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3
Clients and Services
Wherever possible, we align our services with the reasonable wishes of our clients. We want to offer our
clients options from which they can make specific choices.
3.1
Housing requirements of students
A survey among students from Wageningen University and the Van Hall Larenstein University of Applied
Sciences showed that, when choosing a living accommodation, students consider the cost of living
(extremely) important; followed by the floor space of the rooms and upkeep. In total, nearly 1,100
questionnaires were filled in.
Most students (over 70%) prefer to share facilities with others. They view having their own facilities such
as kitchen, shower and the like as less important – or even unimportant. They consider living in a
pleasant communal group much more important. Another group of students (nearly 30%) want an
entirely different lifestyle, in which having their own facilities is quite important. A survey among
international students (2009) showed that the 70/30 ratio, which applies to Dutch students, is around
60/40 for European students and 50/50 for non-European students.
Our current student housing consists of 75 percent rooms with shared facilities (half of which on corridors
with 10 or more tenants) and 25 percent self-contained rooms and two-room accommodations.
The desired room size differs. The largest responder category was “between 16 and 18 square meters”,
although smaller and larger sizes also scored high. There is also a differentiated number of co-tenants
desired. The largest response was a communal group of between “five or six” co-tenants, but “three or
four” and “seven or eight” co-tenants also scored high. Students who want to share facilities with others
mainly refer to living rooms, kitchens and balconies or gardens. In addition to shared facilities, some of
these respondents also preferred to have washbasins in their rooms.
The cost of living that students are willing to pay also differs. Most respondents who want to share
facilities have in mind living costs up to €300. Those who prefer self-contained rooms are willing to pay
€350.
Alignment of new buildings with housing requirements
Considering the housing requirements of students and the composition of our current housing stock, new
buildings will focus on rooms with shared facilities, but also on an adequate number of self-contained
units.
For each new building location, we place different emphasis in differentiation of room types, floor space,
facilities and living costs.
3.2
Housing distribution
First-year students
Large numbers of first-year students arrive in Wageningen at the same time in August and September.
When they start their studies, they would like to live close to where they attend classes. Graduates, on
the other hand, depart at different times during the year, so that even with a slack student room market
there is still an intake peak. Most rooms are allocated via the rooms-on-offer system. From interested
who respond to offers, those with the longest registration history are selected.
Besides providing structural housing, Idealis would also like to help reduce the “summer peak” by
offering first-year students temporary housing in third-party accommodations. Idealis will make its
building management expertise available, in cooperation with higher education and/or other housing
associations, for example, to accommodate this peak period.
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Another type of temporary housing is subletting. Many students go to live elsewhere for a time, for
reasons of research or internship. During this period, they can sublet their rooms. Besides treating such
requests flexibly, Idealis facilitates this by providing formal (sublet) tenancy agreements.
Intake during the first academic year
Idealis endeavors to bring about a supply-demand situation in which all first-year students who want to
live in Wageningen/Ede will gradually be housed in rooms with shared facilities during the course of their
first academic year. The target date for housing first-year students is May 1st of the first academic year.
This means that, with a reasonable balance between supply and demand, there will be a gradual intake of
the next generation of first-year students.
For most international students gradual intake is not sufficient. They require housing at the start of their
studies. For this reason, there are agreements with Wageningen UR until the end of 2015 to reserve
1,200 rooms with inventories for international students.
Wageningen UR has indicated that they do not intend to renew this agreement after 2015. In
consultation, we are looking at the best way to arrange housing for international students in the future
(see the paragraph entitled “Towards a new model of housing distribution”).
Senior and PhD students
Some students decide to rent accommodations from Idealis only after their first academic year. This
could be because, for example, they can rent (sublet) temporary accommodations or decide to travel
back and forth; or they want to wait until they are eligible for a room with its own facilities. Some Idealis
tenants want to move into other types of Idealis rooms/communal groups.
In complexes with small communal groups, tenants may choose their own co-tenants. Sometimes,
following a period of subletting, tenants may remain in the same communal group. New tenants will also
be nominated at Kortenoord and Rijnveste. With occupancy (initial rental), current Idealis tenants will
have an opportunity to form new communal groups and collectively move to the new building. The other
new buildings and rooms that become available when other Idealis tenants change accommodations will
be rented on the basis of registration history.
Idealis rents over 100 apartments. Dutch and international PhD students working at Wageningen UR
must respond via the website for apartments that become vacant. Other PhD students with limited
incomes are nominated by Wageningen UR for rooms with inventories. New buildings will include living
accommodations for PhD students. At Rijnveste, besides apartments, they will also be able to choose
rooms.
Towards a new model of housing distribution
In the current distribution of living space, the options and personal responsibility of clients is severely
restricted by rules. International MSc students, who are housed in rooms with inventories at a limited
number of complexes, may not respond to offers of other rooms. The opposite applies to Dutch students:
rooms labeled for international students are not available to them. Nor may BSc and MSc students
respond to apartments offered to PhD students who, in turn, may not choose rooms and two-room
accommodations in student complexes.
Future housing distribution
In the next few years we plan to gradually change to a new model of housing distribution. Our focus
group (students and young PhD students), irrespective of nationality or study program, will be able to
choose accommodations from our offer in the Wageningen/Ede region, based on individual housing
requirements, lifestyle and financial resources.
The basic rules will of course remain in effect, such as the requirement that tenants are studying in
Wageningen or Ede (or doing doctoral research), length of registration as selection criteria for responses
to offers, as well as procedural agreements about how tenants (in specific complexes) may nominate new
co-tenants.
Idealis plans to change to a new model of housing distribution, with more
options for students and PhD students.
10
The contours of future housing distribution are now known:
•
•
•
•
•
•
•
•
•
Idealis will not distinguish by nationality or study program;
the options for students and PhD students will expand, wherever possible;
all newly built rooms will come with basic floor covering;
for regular rooms, the tenant will be responsible for deciding whether or not the room inventory will
be rented or purchased;
besides regular rooms, fully-furnished short-stay rooms will be rented;
short-stay rooms will be fully furnished and temporarily rented: these units will become available
every year no later than August 1st for new student arrivals;
tenants of short-stay rooms may reregister and respond to the regular offers of rooms;
short-stay rooms will be offered via the website; length of registration will determine the sequence
for selection;
the number of short-stay rooms is limited; some may be reserved by educational institutions, to
provide certain students guarantees of rooms in advance.
In 2012, an Idealis project group will further elaborate the phased introduction of the new model of
housing distribution.
3.3
Vacancy policy
To house students within a reasonable term, it is important that tenants who have finished or suspended
their studies vacate their rooms. In the tenancy agreement, tenants are bound to move within a year
after finishing or suspending their studies. PhD students are also subject to the one-year maximum
vacancy requirement after termination of their employment contract and/or taking their PhD degree. In
this way, accommodations will remain available for the focus group and possible “evasiveness” avoided.
3.4
Rent policy
Idealis’ income depends almost entirely on rent revenues. At the same time, we rent to a focus group
that generally has limited resources. Partly because we have to undertake sizable new building projects,
we want to establish rent levels to cover this, but still make them affordable.
Idealis’ rent policy focuses on the following:
•
a differentiated offer in terms of quality and rent levels, based on (future) demand;
•
a balanced price/quality ratio;
•
safeguarding rental revenues to guarantee financial continuity.
Differentiated offer qua rental price and quality
Most students have limited disposable incomes. They consider living costs to be an important aspect of
their choice of accommodation. Via the housing valuation system (established in the Rental Prices Act for
Living Accommodations), differentiation in desired quality results in differentiated rental prices.
Balanced price/quality ratio
With housing valuation, the quality of an accommodation can be assessed objectively and verified by
tenants, on the basis of a point scoring system. The systems of point valuation of self-contained
accommodations and those of rooms with shared facilities are different, however, and do not always
dovetail well. For this reason, rents of self-contained rooms are sometimes only slightly higher than
comparable rooms with shared facilities. We then make any necessary correction by varying the
percentage of the maximum allowable rental price (see next paragraph).
Student housing
For current student rooms, Idealis charges 80 percent of the maximum allowable public sector rental
price. This represents a general rent reduction. Exceptions to this are housing units for which subsidies
are available: in those cases, new tenants pay the full 100 percent. We have also applied the 100 percent
rule to new buildings since 2010. This is necessary to help us finance our ambitious new construction
program. Where possible, to arrive at a balanced price/quality ratio for new buildings and acceptable cost
of living, we reduce the rent for rooms with shared facilities (which are not eligible for rent subsidy)
within a range of between 80 and 100 percent.
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Cost of living and rent subsidies
Rent subsidies are based on maximum, subsidy-eligible rental prices (basic rent plus a small share of the
costs of several service components) and the rental price ceiling established annually by the government,
based on inflation during the preceding year.
Student units built prior to 1997 have been designated by the national government as being eligible for
rent subsidies. This also applies to most Idealis rooms. Since 1997, rent subsidies for new student
housing units have only been possible for self-contained accommodations.
For young people age 22 or younger, rent subsidies are based on a maximum rent ceiling, a so-called
quality-discount ceiling (€361, 2011 price levels). Nearly all Idealis rooms have rents below the
maximum ceiling. Some 50 units have higher rents, for which Idealis grants a rent discount to tenants 22
years old or younger, so that they may receive a rent subsidy.
Apartments (specifically for PhD students)
For apartments, we assume 100 percent of the maximum allowable rental price. The rents of most
apartments are higher than the maximum allowable rent for public sector housing (€652, 2011 price
levels). The income of many PhD students is too high for a rent subsidy. If the level of vacancy is
unacceptable, the rents can be reduced.
Other public and private sector rental accommodations
Public sector housing for older people (Bassecour/Herenstraat) does not relate directly to our mission.
The maximum allowable public sector rent is charged to new tenants. For some accommodations, the
rent could be higher than the maximum allowable rent ceiling. In such cases, we reduce the rent to
enable the tenants of these senior accommodations to continue to receive a rent subsidy.
Finally, there are private sector accommodations with rents above the maximum allowable public sector
ceiling. These are the 12 apartments of the Wilhelminaweg complex.
Rent policy
In principle, our rents are in line with the government’s maximum allowable rental price. Exceptions to
this are student units for which no rent subsidy is possible: for existing rooms with shared facilities, we
then assume 80 percent; for new buildings, we reduce the rent to a range of between 80 and 100
percent.
Overview of the consequences of rent policy
Appendix 2 contains an overview of the subsidy-eligible rental prices for all living accommodations (incl.
Ede).
Revisions in national government policy
Revisions are being made in the national rent policy. Among others, this refers to the possibility in scarce
regions (including Wageningen and Ede) to add extra basic points to housing valuation, depending on the
WOZ value/m2 (real estate valuation). In addition, there are planned reductions in rent subsidies.
Re-assessing rent policy
In 2012, Idealis plans to re-access its total rent policy.
3.5
Livability
The student complexes mainly comprise rooms whereby tenants share a kitchen, shower and the like
with other tenants. This means that these tenants must expressly make allowances for one another.
We attach considerable importance to a good, enjoyable and safe living environment. The tenants,
including our caretakers and social relations manager, contribute to this. Where possible, we support
tenant initiatives that contribute to good livability. The tenants experience their accommodations and
living environment on a daily basis. They are in the best position to assess livability. The annual livability
survey is a useful gauge of assessments by the tenants.
Livability of the living environment
Livability in a complex is good if a sizeable majority (at least 70%) of the tenants feels comfortable and
safe and gives a score of 7 or higher for total livability.
The scores for separate aspects of livability are discussed for each complex in consultation with the
tenant representative, the caretaker and Housing Services representative. Based in part on this
consultation, annual improvement measures are implemented.
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3.6
Communication
We think that timely, straight-forward communication with current and future clients is important. Idealis
has many international tenants. We communicate with them in English. To introduce ourselves to future
first-year students and to inform them about housing opportunities, we take part in the briefing days of
the relevant educational institutions in Wageningen and Ede.
New website
We will replace our website in 2012 with one that is more user friendly, fully interactive with integrated
social media. As a result, electronic communication will replace most of our correspondence to tenants.
3.7
Sustainability
Because of the seriousness and urgency of the climate problem, Idealis has taken forceful measures to
save energy as much as possible, both through technical means and by providing information to influence
attitudes of tenants. In addition, we have taken steps to introduce renewable energy. However, we also
consider it important to keep investment costs to a minimum, in connection with the rental price levels of
student housing.
In 2012, Idealis will complete an integral environmental plan in which policy with respect to the
aforementioned aspects of sustainability will be adopted for the coming years. With regard to
sustainability, see Section 5, paragraph 5.8, “Towards a sustainable organization”.
Sustainability
Idealis endorses the aspirations of the Aedes umbrella organization to save 20 percent on the
consumption of gas in 2018, compared to 2008, and the government’s goal of reducing CO2 emissions by
30 percent in 2020, compared to the 1990 levels.
Idealis also endorses the aspiration, “Wageningen climate neutral in 2030”, in which regard it is also a
partner of the municipality.
For new buildings, Idealis assumes at least the legal energy performance coefficient, whereby it has
decided on a building energy model that could be made climate neutral over time. With regard to the
other performance fields of GPR (a digital measuring and development instrument for sustainable
construction, which provides insight in the degree of sustainability), an average of 7.5 will be realized
(the legislation assumes at least 6.5).
Idealis purchases only green electricity and CO2-neutral gas (for those complexes where we arrange
energy for the tenants).
Most energy consumption in accommodations is determined by the tenants. Idealis therefore provides
information to its tenants on a regular basis on how to save on energy and water.
Idealis actively participates in experiments and innovative projects that utilize specific knowledge,
expertise and diligence from Wageningen, where possible.
3.8
Client satisfaction
Feedback from tenants provides a major basis for policy development and improvement of services and
working procedures. All new and departing tenants are sent a survey questionnaire by e-mail within six
weeks after signing – or terminating – their tenancy agreements.
Norms of client satisfaction
We endeavor to attain a “good” assessment for Product, Personal Service, Service Provision and
Reputation and a “reasonable” assessment for Price/Quality.
Each of the five aspects consists of several auxiliary questions/elements. In 2012, we also established
norms for the separate elements. Based on this, we can link improvements even more expressly to actual
customer satisfaction.
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4
Cooperation
4.1
The strategic partners
Tenants’ representatives
With both Dutch and international member tenants, the SFO (tenants representation association),
represents tenants of student complexes. Idealis considers advice from the SFO in matters concerning
rental (and rent) policy and building management important for developing new policy and
improvements. In addition, there is an active tenants’ committee for senior accommodations (Bassecour/
Herenstraat), with which we will work closely in the coming years.
The basis for tenant participation in housing associations stems from the government BBSH decision
(Administrative Decision, Public Housing Sector) and from the Tenants/Landlord Consultation Act. Idealis
also incorporates tenant participation in its by-laws. The SFO is entitled to nominate two members on our
Board of Supervisory Directors. We have given practical expression to tenant participation in a document
drafted with the SFO, “Partnership Agreement Tenants/Landlord”. Cooperation with the SFO is very
constructive.
Partnership agreement with the SFO
The partnership agreement is reviewed and brought up to date once every two years, within the time
frame of this business plan, in 2012 and 2014.
Wageningen UR
Idealis sees Wageningen UR as an important strategic partner. The relationship underscores the mutual
responsibility for adequate housing of students. The university and Idealis have separate responsibilities
in this.
Good cooperation with Wageningen UR is an important condition for meeting the demand for student
housing. Idealis actively works to improve this partnership. For example, making specific agreements
about long-term structural housing of international students is an important area of attention. Although
the current agreement with Wageningen UR runs until the end of 2015, another model of housing
distribution will be gradually introduced in the coming years. The contours of that new model were
adopted in the autumn of 2011.
During 2012, there will be further elaboration and coordination between Idealis and Wageningen UR.
Among others, this will involve transferring rental tasks to Idealis, offering rooms to international
students via the website and determining the total number of short-stay units and the share of which
Wageningen UR will be entitled to reserve at Idealis, to be able to offer specific students room
guarantees, also in the future.
Ede Christian University of Applied Sciences
The Ede Christian University of Applied Sciences (ECU) is also an important business relation of Idealis.
Part of the live-out students of the ECU live in apartments from Woonstede, which Idealis rents by the
room. Idealis is working with ECU, the municipality of Ede and Woonstede to realize new student housing
on the Ede Knowledge Campus.
The municipality of Wageningen
Idealis confers regularly with the municipality of Wageningen about various matters related to housing
and town and country planning. Besides consultations with the town councilor concerned, Idealis also
involves the council committee and separate political fractions in its intended policy.
Performance agreements with the municipality of Wageningen
Idealis places great importance on new performance agreements with the municipality of Wageningen.
These require both parties to make substantial contributions to the realization of public sector housing.
During the spring of 2012, an agreement will be entered into with the municipality for the period 20122015.
14
The municipality of Ede
The municipality of Ede wants to place additional emphasis on the town’s important educational role. It
sees education and students as an opportunity to strengthen the liveliness, cultural life and economy of
the town. With education and both housing associations, the municipality is working enthusiastically on
realizing new buildings for students and the layout of a knowledge campus.
Woonstede
For many years, Woonstede and Idealis have enjoyed a good working relationship in the area of student
housing in Ede. In 2010, this relationship received a new impetus from agreements about new building.
Woonstede intends to build an apartment complex for 250 students and young people with disabilities on
the future knowledge campus. This will enable optimum utilization of Woonstede’s expertise in the area of
development and that of Idealis in the area of renting student housing.
In 2010, Woonstede and Idealis also signed a letter of intent for operational cooperation and mutual
consultation on a variety of areas in the coming years. Both organizations will retain their independence
and specific client identities.
The Housing Association
In Wageningen, Idealis wants to align its strategic housing-stock policy with the Housing Association. A
more integral approach to the Wageningen housing market and the existing housing stocks of both
associations could provide better solutions and is in the best interests of students, recent graduates and
young PhD students. We are exploring ways of housing students in existing housing stocks. In this way,
for example, temporary rental to students can take place before the accommodations are demolished.
Other housing associations in the Food-Valley region
Taking their lead from the municipalities, the housing associations in the WERV region have also decided
to extend cooperation to the new region of Food Valley. Collaboration of the housing associations in
Wageningen, Ede, Rhenen and Veenendaal will expand to include Barneveld, Nijkerk, Scherpenzeel and
Renswoude. The 11 housing associations will also participate in the administration of the “Food Valley
Real Estate Monitor”.
Other student housing providers
Nine housing associations / student housing providers, including Idealis, work together in the national
Kences Knowledge Centre for Student Housing. Together, the participating student housing providers
manage over 50,000 housing units. The administrators of these student housing providers make up the
executive committee of Kences. Spearheads within Kences include, lobbying, synergy, collaboration and
innovation. Kences supports the National Campaign for Student Housing and the development of a
national student-housing monitor. The national campaign will pave the way for a substantial expansion of
the number of student accommodations. This will only be possible by modifying or getting rid of
government rules that currently stand in the way.
4.2
Visitation
Independent, external visitation measures social performance, the policy choices we make and the
manner in which our major strategic professional contacts are involved in the assessment process. This
method of visitation highlights the social benefits by describing the performance of the housing
association and comparing it to:
•
our own aspirations and objectives;
•
the tasks to be performed in our field of work;
•
the judgment of the most important strategic contacts;
•
the financial possibilities and degree of efficiency;
•
the requirements of good governance.
The first visitation at Idealis took place in 2008. The final conclusion was that Idealis is a “recognizable,
solid student housing provider that achieved a remarkably consistent and good score on all four aspects
of social visitation.” The assessment also resulted in several points of attention. The most important were
the need for greater clarity in the chosen strategy and further improvement in communication and
cooperation with the strategic partners. With the drafting of the policy paper, Strategic Housing-Stock
Policy 2010 – 2015 and this business plan, the strategic partners were involved at an early stage.
Working closely with educational institutions is an important condition for
meeting the increasing demand for student housing.
15
Social visitation
Social visitation takes place once every four years; within the time frame of this business plan, in 2012.
4.3
Contributions of strategic partners
We discussed the main outlines of our strategic policy with the SFO and with separate educational
institutions, municipalities and housing associations in Wageningen and Ede. The reactions from these
stakeholders are recorded in the business plan and summarized below.
Strategic vision and mission
Our professional contacts find the analysis of the environment and the major opportunities and risks
mentioned recognizable. They also agreed with the internal analysis and mission. The fact that meeting
the increasing demand for student housing is seen by Idealis as an opportunity to reinforce overall
differentiation, flexibility and the quality of student housing receives broad support. This reduces
vulnerability of the total housing stock. In consultation with the municipality of Ede, we were asked why
we did not undertake new construction of student housing in Ede. The liveliness and economy of Ede
would clearly benefit from this.
However, experience shows that WU students prefer to live in Wageningen. Idealis therefore gives
preference to new building in Wageningen. If this does not offer sufficient possibilities, we would of
course look for affordable alternatives in Ede.
Cooperation
In consultations with Wageningen UR, it was found that new agreements about future housing of
international students were necessary. The main questions here are what both partners would expect
from each other in the coming years and how such cooperation could best take shape. In meetings with
the municipality of Wageningen, there were specific discussions about sales of construction sites at public
sector prices and the suitability of the campus as a location for supplementary student housing. In June
2011, the town council of Wageningen agreed to modify town and planning policy to permit the building
of around 600 supplementary student housing units, some at locations in the town center and others on
the university campus.
The municipality of Ede supports practical collaboration between Woonstede and Idealis. In this way, it
would be possible to build some 250 student units around the Ede Knowledge Campus. The ECU expects
the quality of the location of new buildings to result in a larger demand for rooms. In the discussion
about the strategic framework, the Housing Association thought it was a good idea, with regard to
accommodations scheduled for demolition, to rent them temporarily to Idealis. In that way, these
accommodations could first be rented by the room to students.
Decision process
After conferring with the strategic partners and personnel about the strategic framework, the draft
business plan was presented to the SFO and the Works Council (WC) for advice. The executive decision to
adopt the draft memorandum (accompanied by written advice from the SFO and WC, along with Idealis’
response to this advice) was then brought before the Supervisory Board for approval.
Meanwhile, we have also adopted the contours of a new model of housing distribution, which describes
future housing of international students in particular. Because this model will have a huge impact on the
clients and the organization, the SFO and WC were asked to provide supplementary advice on this topic.
This supplementary advice has also been included in the final decision process concerning the business
plan.
16
5
Organization and Employees
5.1
Specialism
Our organization is used to large numbers of moves in short periods and in dealing with young people.
Most students have just recently moved out of their parental homes and are living on their own for the
first time. For their studies, they come for several years – or sometimes only for a few months – to live in
our accommodations. The many moves and sharing of facilities with other tenants require special
attention to maintenance, building management and a pleasant, safe living environment. Nearly a third of
our tenants come from abroad. Therefore, to communicate with our clients, English is as important as
Dutch.
The organizational structure, personnel establishment, the positions and processes are geared towards
our specialism, student housing. We take pride in the fact that our clients appreciate the service provision
and personal service offered by Idealis.
5.2
Starting points of personnel policy
Motivated, well-trained personnel, a pleasant working atmosphere and good working conditions are
decisive factors in realizing our mission, strategy and objectives. Our clients can count on good service
and open communication. The executives in particular must be committed, able to provide direction,
create conditions, be persuasive and inspiring.
The complete Idealis personnel policy is described in the policy document, “Working Together”.
The policy document, “Working Together”
Assessment of personnel policy takes place every three years. An updated policy document, “Working
Together”, which was adopted at the end of 2011, is scheduled for review in 2014.
5.3
Core values
To support the desired company culture, four core values have been proposed throughout the
organization for all employees: proactive, sustainable, customer-oriented and conscious choice. All
employees are expected to embrace these core values in their everyday attitudes and conduct. The core
values have become a permanent component of the assessment system. In this way, these core values
will assume a “life” of their own, form a guideline for our actions and our thinking.
Nearly a third of our tenants come from abroad. Therefore, to
communicate with our clients, English is as important as Dutch
.
5.4
Assessment system
Every year, all personnel go through an assessment cycle, consisting of planning, progress and
assessment interviews. Assessment takes place on the basis of achievement, performance targets,
development of qualifications and personal interpretation given to the core values. The performance
targets are linked to the general annual plan and its elaboration in department plans. Qualifications refer
to the conduct needed to perform well, which are formulated for each job. Potential training courses are
also discussed during the planning interview.
17
5.5
Personnel consequences of the business plan
The intended expansion of our real estate during the next five years affects the organization. The way in
which employees translate the new challenge in daily practice is crucial.
Personnel establishment
To preserve the quality of service provision and avoid too high pressures of work, the intended
scheduling of new construction will result in limited growth of personnel establishment. It is expected that
expansion will occur in staff that carry out the work. In calculating the financial consequences of the
planned policy, allowances have been made for an increase in personnel costs linked to the number of
rental units.
Monitoring work pressures and tasks
The team leaders will discuss and monitor developments in the pressures of work, tasks, positions and
procedures. They will do so by calling attention to them in team meetings and in individual discussions
that take place during the annual assessment cycle.
General demographic developments, such as the ageing population, necessitate thinking about the
personnel organization at strategic level. At housing associations, the staff generally enjoys a protracted
period of employment; staff turnover is limited. At Idealis, the average age of staff is also high. This
raises the concern that expertise and capacity could be lost within a relative short period of time.
In particular, staff members will start to leave during the years immediately following the period covered
by this business plan. We do not view the current age structure as a vulnerability: it provides an
opportunity to change of personnel, in which there is relatively little turnover, to adapt adequately to a
changing environment.
Scan and future vision of the number of personnel
In 2012, each department will undergo a scan of the personnel composition, including a future vision
based on the business plan. The scan will form the basis for fleshing out a strategic personnel plan for the
coming years.
The scan will focus specifically on answers to the following questions.
•
What is the desired capacity of the organization, given the strategic aims and the way in which we
want to achieve them? How does the desired capacity relate to the expected staff turnover? Who will
leave and how will this affect the acquired expertise? How can you ensure that knowledge will not be
lost and can be transferred on time?
•
To what extent do current, skilled employees stimulate or limit achievement of the strategy? Can
current staff members develop the necessary skills? How do we do this? What are the priorities? Will
we need some “new faces” for this? If the skills cannot be developed, what should we do? Is
outsourcing a desirable option?
•
How do we deal with compensation policy? As an employer, how do we make our organization
appeal to new staff and how do we motivate existing staff?
•
How do we organize staff commitment to the strategy and adapt the strategy to the experience,
possibilities and impossibilities of the staff?
5.6
Staff satisfaction
Idealis attaches considerable importance to staff satisfaction, improvement of mutual team work,
increased personal responsibility, increased career-development opportunities and more scope for
individual initiatives. We measure these aspects once every three years in a staff satisfaction survey
among our employees.
The last such survey took place in 2010. In general, the results were very positive, showing that most
people enjoyed working at Idealis. Based on the report, in consultation with the WC, we determined three
areas that needed improvement. On general satisfaction, Idealis scored 7.4. (Other organizations scored
an average of 7.2).
Survey of staff satisfaction
A new staff satisfaction survey will take place in 2013. Our target is to retain the current level of staff
satisfaction for working at Idealis (an average score of 7.4 or higher).
18
5.7
Office building
The office building at Duivendaal 1 is rented from Wageningen UR. Idealis is exploring the possibilities of
moving to another office space because of the limitations of the current office and the uncertain future of
the total Duivendaal area. We have started setting up a schedule of requirements for a new office. We
are also examining the possibility of combining an office in a new building for student housing.
5.8
Towards a sustainable organization
With the establishing of a “carbon footprint” for our own organization, we have now reached the final
stage. This means that we will be able to visualize our contribution to carbon dioxide from our business
operations and explore ways of reducing it. We also plan to decide how we can compensate for CO2
emissions, for example, by planting trees or by investing in renewable energy.
A CO2-neutral organization
Idealis will become a CO2-neutral organization in 2012.
Energy savings and sustainability are not limited to our student
complexes, but also form a major area of attention in our own
organization.
19
6
Long-term safeguards
6.1
Starting points and parameters
Not only does Idealis want to meet short-term demand for student housing, it wants to do so in the
distant future. This means that we must also safeguard financial continuity over the long term. To assess
this, we calculated the formulated policy to include mapping out of future cash flows stemming from
operation of our real estate, the planned investments and the required financing, based on the following
starting points.
Investments
The starting points are the investments mentioned in Section 2 and the intended scheduling.
Rent policy
This is based on the rent policy described in Section 3.
Maintenance
For the current real estate, the starting point is the multiple-year maintenance budget, 2012-2031.
Investments for systematic major repairs were calculated on the basis of nationally-published standards.
Minor repairs are based on figures from practical experience.
Residual value per rental unit
For this, we assume a public sector land price minus the costs of vacating and demolition.
Cost control
Personnel costs are allocated to the various complexes on the basis of a standard amount per rental unit.
We assumed that, with the addition of units, these costs would not rise completely proportionately and,
in line with strategic housing stock policy, calculated 50 percent of the standard for investments after
Rijnveste.
We also based the remaining building management costs on a standard amount per rental unit. Of these
costs, around 24 percent relate directly to the number of rental units. We assumed that 24 percent of the
standard would apply to units built after Rijnveste.
Rent subsidy levy
Calculation of the rent subsidy levy mentioned in the budget will be included from 2014, according to the
most recent information from the Central Housing Fund (CHF). The CHF expects that the levy will only
apply to self-contained accommodations, for which a rate of €1.70 per €1,000 WOZ value will be used.
Economic parameters
Price
inflation
Wage
inflation
Short-term
interest
Long-term
interest
Building
index
Maintenance
index
Market
index
2012
2.00%
2.00%
2.00%
3.75%
2.00%
2.00%
-2.50%
2013
2.00%
2.30%
2.39%
4.07%
2.30%
2.30%
-0.85%
2014
2.00%
2.51%
2.66%
4.29%
2.51%
2.51%
0.31%
2015
2.00%
2.66%
2.85%
4.44%
2.66%
2.66%
1.11%
2016
2.00%
3.00%
3.30%
4.80%
3.00%
3.00%
3.00%
>2017
2.00%
3.00%
3.30%
4.80%
3.00%
3.00%
3.00%
(Source: Most recent quarterly report, Ortec)
20
Not only does Idealis want to meet short-term demand for student
housing, but also demand in the distant future
Rate of discount
For turning cash flow into cash we have assumed an interest rate of 5.25 percent.
Remaining life of complexes
Walstraat
Asserpark, Hoevestein, Bornsesteeg, Dijkgraaf, Marijkeweg, Haarweg,
Oude Bennekomseweg, Boterstraat, Vijzelstraat/Salverdaplein, Salvowoningen
O.Eekmolenweg
Herenstraat 14
Bassecour
Wilhelminaweg
Pedel and Kloosterstegen
Droevendaal
Binnenveld
Lombardi and Nobelweg
Burgtstraat
Operation to end of:
2015
2025 *
2025 *
2035
2044
2047
2048
2049
2053
2057
2060
* For these complexes, at the end of the operating period, allowances have not yet been made for new replacement
buildings (and related investment costs) or extension of life expectancy (and related cost of upgrading).
6.2
Financial continuity
Key figures
The assessment of financial continuity is based on the following key figures and related standards:
Relative cash flow:
Capital:
Yield:
Interest-coverage ratio (ICR)
Solvency and Loan to value
Direct yield
These key figures were calculated for formulated policy. We then applied scenario analysis to the key
figures that are decisive for the assessment of outside supervisory bodies, the interest coverage
(Guarantee Fund, Public Sector Housing) and solvency. This entailed calculating a large number of
scenarios to include changing economic circumstances. If 95 percent of the calculated scenarios (“95%
Var”) satisfy the established standard, we assume that the economic risk is acceptable and, as a result,
financial continuity is safeguarded.
The graphs included in appendix 3 show that the assessment of financial continuity meets the established
standards, by a wide margin.
Healthy financial position
The calculation of the policy formulated in this business plan shows that Idealis’ financial continuity will
be safeguarded over the long term.
21
7
Risk management and monitoring
7.1
Supply and demand of student housing
Every year around June an estimate is made of the supply-and-demand situation of student housing,
including a review of whether the intake of first-year students is in line with the goal. Every six months a
housing address analysis is made for all WU students. This is important for the translation of student
forecasts into supply and demand for student housing. In addition, there is a review of whether the
actual student forecasts give rise to changes in planned investments in strategic housing-stock policy.
Structural consultation and alignment of student forecasts will take place in particular with Wageningen
UR at the earliest possible stage. On instruction from Kences, in 2011 ABF developed a student monitor
in which an effort was made to gain better insight, both nationally and for individual student towns and
cities, in supply and demand and possible mismatches. During stage 1, the monitor focuses on
quantitative aspects while, in stage 2, on the qualitative aspects of supply and demand. During stage 2,
among other things, a housing-requirement survey among students is held, whereby Wageningen (in
addition to Groningen and Eindhoven) served as a pilot function. Publication of the survey results is
expected early in 2012.
As part of the planned scheduling of new building projects, all investment decisions to be taken will be
based on the actual monitoring of both the supply and demand situation and on financial continuity.
Growing numbers of students afford opportunities for supplementary, smaller scale, more differentiated
and more flexible new buildings. This means that, over the long term, the new buildings could also be
suitable for rental or sale to focus groups other than students.
In the long term, restructuring of obsolete student complexes might be feasible. This could reduce the
number of rooms per corridor or the demolition of a complex.
Monitoring supply and demand
•
Monitor student forecasts, the actual intake and demand for student housing;
•
Monitor relevant developments in government policy (student grants and loans, rent subsidies and
the like);
•
Housing market research, housing-requirement survey, customer satisfaction, livability monitor.
•
Reports should include structural management information, directors letter, the annual report, the
annual monitor of supply-and-demand of student housing, for example.
Growing number of students affords opportunities for supplementary,
small-scale, more differentiated and more flexible new buildings.
Supplementary, structural new building requires the availability of
affordable locations.
7.2
Government policy
Government policy in the area of student grants and loans, rent policy, rent subsidies and the like could
have major financial consequences for Idealis. European laws and regulations could also have an indirect
effect. Regulations concerning residential building and occupancy could result in large, mandatory
investments in student complexes. Idealis sees government policy as a major risk.
22
In general, in forming national government policy, no allowances are made for student housing,
particularly as far as rooms with shared facilities are concerned. Via Kences there are efforts to influence
politics. In cooperation with the VSNU (Association of Dutch Universities), Kences has taken an initiative
for a National Plan of Action for Student Housing.
Monitoring government policy
•
Follow political decision making;
•
Take part in Kences, in administrative deliberations and in structural or systematic consultations at
policy level;
•
Reporting: in the annual report, directors letters and memorandums and the like.
7.3
Working with local strategic partners
Supplementary structural new building of student housing requires the availability of affordable locations
for public housing. In addition, plan development is only possible if it fits local policies for Housing and
Spatial Planning. The safeguarding of sufficient student housing requires good cooperation with education
and the municipalities. Idealis, which is conscious of the fact that good cooperation with the most
important stakeholders is fundamentally important, makes every effort to maintain good relations.
It is important to wind up the performance agreements with the municipality and to draw up agreements
for individual building plans. Structural consultation is carried out with the councilor and local politicians.
Where possible, we take joint action with other strategic partners, align strategy and offer our expertise.
Transparency with regard to investments, rent revenues and unprofitable peaks will contribute to mutual
understanding and cooperation.
Monitoring collaboration
•
Administrative and systematic consultation with municipalities and educational institutions;
•
Follow new building plans;
•
Reporting: in directors letters, structural progress reports of projects, the annual report, external
visitation (once every four years).
7.4
Financial continuity
To assess whether the investment track stemming from strategic housing-stock policy is financially
feasible, the future development of cash flows and our own net assets will be mapped out in various
policy variants. Several scenarios will be calculated to determine the economic risks per variant. These
scenarios involve the following parameters:
Index
Effect on:
Price inflation
Rent and expenses
Wage inflation
Wages
Short-term interest
Cash
Long-term interest
Financing
Building index
Investment in new building and renovations
Maintenance index
Maintenance
Market index
Vacant value development
A determination is then made above which limit 95 percent of observations lie. If this level is higher than
the established standards for rent-coverage degree and solvency, one can conclude that financial
continuity is safeguarded.
As described above, the national government and definitive political decisions on several policy plans of
the Rutte Cabinet constitute a financial risk for Idealis.
Idealis also views sale of non-mission-related complexes as a possible measure. This would only take
place if the desired investments in student housing and safeguarding long-term financial continuity
require this.
23
Monitoring financial circumstances
•
Structural and, where necessary, incidental through calculation with WALS (Ortec financial
forecasting model);
•
Based on this, see whether interim adjustment in planned new-building investments, as set forth in
strategic housing-stock policy, is necessary;
•
Treasury consultations and follow daily developments via the Thesor website;
•
Reporting: structural quarterly reports, annual assessment letter from the ministry and the like;
•
Annual “Continuity assessment” and the “Corporation in perspective” report from the CFV (Central
Public Housing Fund), the PWC management letter and the annual report.
24
Appendix 1: Forecast, cumulative supply and demand for student housing with respect to
2010/2011 academic year
2010/2011
2011/2012
2012/2013
2013/2014
2014/2015
2015/2016
0
475
800
1,100
1,300
1,475
44
44
44
44
44
WUR Haarweg (temporary 5 to 10 years?)
153
153
153
153
153
WUR Ede Kazerne (temporary 5 years)
200
200
200
200
200
Plantsoen (above no.44)
12
12
12
12
12
Plantsoen (above Junushoff) (temporary 10 years)
52
52
52
52
52
175
175
175
175
95
95
95
95
345
345
345
345
148
148
148
150
150
Revised total demand
(Changes with respect to 2010/2011, rounded
off in 25 figures)
Supply (with respect to 2010/2011; Idealis:
green, WUR and Other: black)
WUR Stadsbrink (temporary 10 years)
WUR Beringhem (Bennekom) (temporary 5 years)
Nieuw Kortenoord
Rijnveste
Nobelweg
Lawickse Hof
City center location, if feasible
75
End of WUR Haarweg units from 2009/2010
(temporary 5 years)*
-251
Campus, replacement of WUR units *
250
Walstraat demolition
-251
250
-109
Revised supply total
0
461
1.076
1.224
1.373
1.339
0
25
-275
-125
-75
125
Total, revised demand minus supply (25
figures)
* Calculation assumes demolition of 250 WUR units before January 1, 2015. If these units continue in use for 10 years, demolition
and replacement of these units will be cancelled in the table.
Supply Ede with respect to 2010/2011
2010/2011
2011/2012
2012/2013
2013/2014
250
250
250
0
0
0
250
250
250
0
25
-275
-375
-325
-125
Zandlaan
Revised supply Ede total
2014/2015
2015/2016
Total, demand minus supply
Wageningen/Ede (25 figures)
Starting points
Housing demand WU per year: changes with respect to academic year 2010/2011; based on WUR forecast update March 2011, scenario
2; recalculation housing demand: 65% of students
-
-
Housing demand Van Hall Larenstein and the Christian University of Applied Sciences Ede stable, Stoas University of Applied Sciences
annual increase 40 units for first-year students and stable from 2014/2015
-
Changes in supply: available before May 1 of the academic year in question
Turnover degree: unchanged with respect to 2010/2011
25
Appendix 2
Overview of Idealis rental prices for subsidy-eligible housing, incl. Ede
(reference date July 1, 2011)
Type housing
<= € 212.24
> € 212.24
> € 361.66
> € 517.64
<= € 361.66
<= € 517.64
<= € 652.52
> € 652.52
Total
Non-self-contained rooms
Not designated
274
550
Non-self-contained rooms
designated
1657
1030
17
2704
647
20
667
3
98
1
2
104
PhD accommodations
20
13
73
106
Other accommodations
20
38
12
70
175
52
87
4475
Self-contained rooms
Student accommodations
Total
1931
824
2230
Eligible for rent subsidy:
Max. rent subsidy for 1 and 2 person households:
€ 212.24 and <= € 361.66:
100% for this part of the rent calculation
€ 361.66 and <= € 517.64:
75% for this part of the rent calculation, rent subsidy up to age 23
years
€ 517.64 and <= € 652.52:
50%, for this part of the rent calculation, rent subsidy up to age 23
years; also single occupants or occupants who are 65 years or older
or disabled
26
Appendix 3 – Calculation of financial continuity
Solvency development
(Net assets / total net assets)
Loan to value development
(Net debt / value of real estate)
Standard
Interest-coverage degree (ICR)
(Operational cash flow / interest payments)
Standard
Direct yield development
(Operational cash flow / value of real estate)
Standard
Direct yield
27
Appendix 4
Planned performance during business plan period
Objective
Expansion, student housing
Meet demand for student housing
New buildings aligned with student
requirements.
Clients and service provision
Timely housing of new students
Choice of living accommodation by
clients.
Differentiated, acceptable cost-of-living
policy.
Pleasant, safe living environment.
Sober, targeted maintenance.
Timely, open communication with our
clients.
Promoting sustainability in building
management and in new buildings.
Satisfied customers.
Cooperation
Good cooperation with tenant
representatives.
Good coordination with education.
Good coordination with municipalities.
Promoting social benefit.
Organization and staff
Smoothly functioning organization
Acceptable work pressure
Satisfied staff
CO2-neutral organization
Performance
Standard
New building investments 2011-2016,
over 1100 housing units and rental of
250 new building units from
Woonstede.
Extended operation of student
complexes
Favorable client ratings measured by
tenant surveys.
Annual monitoring supply and demand
Gradual intake of first-year students
during 1st academic year in rooms with
shared facilities.
Target date of May 1, first academic year.
Development of adequate short-stay
units.
Towards a new model of housing
distribution.
Rent – 100% of maximum rental price.
If rent subsidy is not possible, then rent
reduction.
Define the norm “adequate size” in 2012.
Recalibrating total rent policy.
Good livability student complexes,
measured by annual livability survey.
Implementation of multiple-year
maintenance plans, with retention of
quality and livability.
New website with integrated social
media.
Integral environmental policy plan
2012-2015 ready incl. aspirations and
norms.
Favorable client rating, measured by
tenant surveys.
To at least 2025, except for Walstraat
(2015)
Product score “good”.
Price/quality score “fair”
Elaboration and phasing by project group
in 2012.
Reduced rent (80%) in existing student
units.
Reduced rent new buildings within range
of 80 to 100%.
Price/quality score “fair”
In 2012.
Many tenants (>70%) give total livability
a score of 7 or higher.
Ditto + price/quality score “fair”.
Realization of plans, budget and tasks.
Ready mid-2012.
Meets established aspirations and norms.
Personal service, service provision and
reputation scores “good”.
Updating of partnership agreement with
SFO
Once every two years. Ready in 2012 and
2014.
Further elaboration of future short-stay
housing, with Wageningen UR
Performance agreements with the
municipality of Wageningen, 20122015, re student housing
Social visitation once every four years
In 2012, agreement with WUR ready
Assessment of personnel policy once
every three years, adopted in the
memorandum “Working Together”
Scan and future vision, number of
employees
Discuss/monitor work pressures, tasks,
positions and procedures
Updating ready in 2014
Favorable ratings by staff. Staff satisfaction survey once every three years
Taking stock of CO2 emissions and
application of the chosen type(s) of
compensation
Long-term safeguards / risk management and monitoring
Safeguard financial continuity
Structural and, where necessary,
incidental through calculation of WALS
(Ortec financial model)
Optimizing risk management and
Monitoring supply and demand, governmonitoring student housing
ment policy, working with strategic
partners and financial continuity
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Ready in the spring of 2012
Assignment ends in 2012
Ready in 2012
From 2012 in team/departmental
deliberations and in assessment cycle
reports
Ready in 2013
Score, general satisfaction, 7.4 or higher
Realization in 2012
Meet ICR standard, solvency, loan to
value and direct yield
Reporting via administrators’ letters, the
annual report, quarterly reports and the
like(See Section 7.)
Appendix 5: Forecast, scheduling of projects / activities 2012 - 2016
Description per section of business plan
2012
Expansion of student housing (planned year of occupancy)
Nieuw Kortenoord
Rijnveste
Campus Ede (Woonstede)
Nobelweg
Lawickse Hof (formerly “van der Kolk Noord”)
City-center location, if feasible
Campus replacement of WUR units (depending on duration
temporary spatial exemption)
Demolition Walstraat (for new building in 2017)
Clients and service provision
Recalibrate total rent policy
New website
Elaboration and phased introduction of new model of housing
distribution
Monitoring/customer satisfaction surveys
Cooperation
Social visitation
Partnership agreement with SFO
Performance agreements 2012-2015 with municipality of
Wageningen
Organization and personnel
Personnel policy memorandum
Scan + vision of number of employees
Monitoring staff satisfaction
Realization of CO2-neutral organization
Monitoring and risk management
Monitoring financial continuity
Annual monitoring, supply and demand
29
2013
2014
2015
2016