5. Gross rental income
Gross rental income can be broken down as follows:
2023 | 2022 | |
Theoretical rent | 385 | 369 |
Loss of rent | 7 | 6 |
Gross rental income | 378 | 363 |
The theoretical rent increased by €16 million to €385 million in 2023, mainly due to the annual rent increase and rent optimisation. The total number of units at the end of 2023 increased with 14 units, from 27.661 (2022) to 27.675 (2023). This is a result from inflow (two residential buildings) and individual unit sales. The average monthly rent increased to €1,133 at year-end 2023, from €1,081 at year-end 2022.
The like-for-like rent increased 4.7% in 2023 (2022: 3.8%), while the loss of rent fell to 1.7% in 2023 (2022: 1.8%).
The contract termination rate decreased from 12.9% (2022) to 12.0% in 2023. Ultimo 2023 the vacancy has lowered again due to additional focus and efforts on relettings. The occupancy rate (in units) increased slightly to 99.0% (2022: 98.6%). The vacancy is mainly temporary due to renovation projects.