Go to Top

Home new – en

Highlight: Second opinion market value for housing associations

We analyse your prescribed valuation of market value (“Handboek waarderen marktwaarde in verhuurde staat”) and test the reliability and consistency of your model. This second opinion gives you a clear understanding of the quality of both input and output. Several housing associations already benefit from our analyses that anticipate on the new legislation as from 2016.
Find out more…


Ramstraat 31

Telefoon    +31 (0)30 20 77 100
Email         info@pin-oak.nl

What can we offer?

Implementation Asset Management

Pin Oak can offer full service Asset Management, but also advice you how to implement this within you organization. We can provide temporary staff, but also train and coach your personnel on their competencies and skills. 
Objectplans are necessary to connect portfolio strategy to the cashflows of your assets. Many aspects of (succesful) Asset Management start from that process and therefore the Asset Manager has a clear central role.

A policy for each and every complex is essential in making a connection between the portfolio-strategy and the status of  an complex. In this process, many facets within asset management are involved. It acts as a spindle within a real estate organization.
As an example: your company owns an complex which consists out of more complexes with residential units. The complex can be valuated and ranked to its commercial performance. For example; rent-ability, development of the vacancy, the number of mutations, market rental growth, attraction of the location are important aspects. Beside this facets, the object has a technical status which can be determined due to a technical inspection or a condition measurement.

Future expectations have to be taken into account. Plans for the construction of competitive complexes, as well as expectations about the future value of the complex. Beside these assumptions also future cash flows for maintenance are input figures for a complex policy.

A good asset manager gets his information from the property management department: this is the link between the tenants and the daily management of the portfolio. The right interpretation of all the information of this department is essential for good asset and portfolio management.
These facts, expectations and choices, combined in one approach, lead to one or multiple future scenario’s for the complex. This scenario can be translated into an future cash flow. As a result of this process you will have insight in the expected returns and valuations of the properties. You will be able to answer questions like ‘What is the contribution of a complex to the portfolio return when we follow a planned scenario?’  When the differences between the scenario’s are small, a good solution is to make a hold-sell analysis.

An asset manager evaluates the complex policy yearly and checks whether the return is still in line with the strategy and goals for the portfolio. By gaining forehand insight into the trend in the portfolio, an asset manager can make adjustments in the execution of the strategy. It is exactly this interaction between the operational aspects (Property Management) and the strategical aspects (Fund Management) that makes the function of Asset Management indispensable.

The combination of complex policy and cash flows gives an insight in the budgets. This insight is essential for determining whether targets can be retrieved or not. As a  result of these insights, the management can decide to sell complexes, to renew complexes or to continue the current complex strategy.
Pin Oak can execute the complete process of Asset Management for your organization, but are also suitable for giving advice in structuring the function of asset management in your organization. We offer interim management services, and even capable in training teams by measuring competences and coaching people to improve themselves.

Technical Management

Maintenance costs are in many investment portfolios and are the largest part of the property specific costs. It speaks for itself that being firm with these costs is an important way of optimizing the return of the portfolio. Creating and keeping a grip on maintenance costs, starts with insight in the structure of the portfolio and its property specific costs.

Pin Oak can help your organization by creating a multiyear maintenance planning. “Which activities are necessary to be maintained or improve the condition of the portfolio and which activities can be deferred?” These important questions will be answered if you ask Pin Oak to advise about the process of Maintenance.

Pin Oak can also assist in giving substance to the multiyear planning. Selecting suppliers, noticing purchase advantages and monitoring the quality of the work of suppliers are all familiar within Pin Oak as well as other aspects of maintenance plans.

Valuation management

The valuation of real estate is one of the most important processes for an investment company. Having insight with the chances and risks in a company are meaningful requirements to be successful. For this reason, not only the insight in financial sector is essential for an asset manager, but also the characteristics of the portfolio must be clear and made visible. To be a well prepared for the external appraiser there should be a good collection of internal and external data

Appraising real estate is certainly in the current time frame an important but complicated process. The important aspect of performed valuation cycles is understanding and carefully evaluating valuations, but also keeping an appropriate distance to the external appraiser.

In the end, the external evaluator is the one who determines the value of the assets, while using the valuation standards that are embraced by the institutional investors. The fact remains that a well determined value arises by creating transparency between the assumptions that are being used by the appraiser and by discussing these assumptions in a meeting between asset manager and the appraiser.  A successful valuation cycle demands a carefully equipped valuation process.

Within Pin Oak we have a widespread experience regarding valuation of real estate, as well the structuring of a valuation process. The services that Pin Oak can offer you are, among others, listed below:

Managing a tender process for valuation:
Developing and executing carefully a selection of appraisers, by comparing quality features of the suppliers. As a result, one or more appraisers can be selected for a collaboration. 

Collection and supply of data for valuation:
In deliberation with the appraisers we can determine which data has to be handed over for a solid valuation of the portfolio. Pin Oak also has the knowledge and the experience to collect this data out of your systems.
For a larger portfolio, Pin Oak can assist you by implementing a Valuation Management System, which can help reduce the workload by a large percentage.
In exchanging data between investor and appraiser, large sets of data can be used. Pin Oak can improve this process by creating checks and balances to verify and ensure the quality of the data.

Valuation Analysis:
Pin Oak can valuate draft versions of the evaluations for you and review the assumptions that have been used. The use of powerful and modern tools for data analysis can create an enlightening insight that can be used for Asset Management and other purposes.  Pin Oak can also assist your accounting and help interpret the results from the valuation. 

Processing valuations
In the end, the purpose of valuation is to have a well determined book value for the real estate portfolio. Pin Oak can assist your organization in processing the valuation results in your systems and books. By doing this, Pin Oak can add as many details from the valuation as what is desirable with your firm.

Portfolio analysis

Creating insight in the performance of your portfolio is an important first step in optimizing returns. Knowing the weaknesses and strengths of the portfolio enables the Asset Manager to make fact-driven decisions.
An extended analysis of your portfolio can create insight in the complexes that contribute more or less to your portfolio return, and can be the basis for deciding which complexes are to hold and which complexes are to sell.

In situations when you plan to buy or sell a portfolio, Pin Oak can assist you by showing you the structure and the opportunities of the real estate. The experience of Pin Oak combined with the powerful, innovative tools that we use, can help you to seize opportunities when they occur, even in a very short time frame.


Retail Sales

Selling individual vacant units (Dutch “Uitponden”) is for many investors an important driver for the total return of the portfolio.  Selling individual units serves a multipurpose: it creates profit as well as it is a gradual way of rejuvenating the portfolio. By selling older units or dwellings with a high level of maintenance costs, an investor is able to give substance to his portfolio strategy, without large interventions in his portfolio.

The management of Retail Sales is a profession itself, that demands for capacity and knowledge that is not available in many organizations. Pin Oak can help you by taking over the complete process or just parts of it.The combination of Retail Sales department and the cooperation with local real estate agents, creates an optimum result on your investment.  Operational and administrative handling is taken care by Pin Oak completely.

Hold-Sell analysis

As said before, a periodical evaluation of the composition of your investment portfolio, is advisable. This evaluation is part of the structuring Complex Policies. The results of this evaluation can lead to a more detailed analysis of specific complexes: Hold-Sell Analysis. Making such an analysis gives you insight in the optimum way an individual complex can contribute to the portfolio return.
Pin Oak can make Hold-Sell Analysis for complexes in your portfolio, interpret them and explain the results for you.


In the Real Estate business, Benchmarking has became an important way to compare the results of a individual portfolio.
Benchmarking asks for a large set of qualitative and verified data. Pin Oak can help by collecting, verifying and delivering this sets of data. Many years of Benchmark management within Pin Oak is present, which can be useful if your organization is participating in one or more benchmarks. After collection data, using the results from that benchmark is important to improve the returns of your portfolio.

Pin Oak can help you to extract the weaknesses and the opportunities out of benchmark results.
We have experience in providing data for the IPD Real Estate Index (IPD/ROZ-vastgoedindex), index for Dutch Institutional Investors (IVBN) and The Dutch Bank (De Nederlandsche Bank) and can also assist in providing data for other indexes, like IPD/Aedex Social Housing Index.

Project management

Every organization that wants to improve itself, has to deal with projects. In many situations, these projects can be stressful for the employees. Being involved with Investment Companies, projects for internal improvement of processes and organization, and Renewing or Pipeline-projects can be a part of the daily routine.

In both cases, large amounts of money and budgets can be in stake.
Using outside knowledge to monitor the progress of projects an preventing staff from running-down, can be an excellent way to successfully complete the projects in your organization. Pin Oak is well suited for the assistance during projects in a short time frame as well projects that have a more extended turnaround time.


Pin Oak helps real estate investors in a pragmatic and entrepreneurial way to realize their primary goals. 

Documents (apologies, only in Dutch!)

Internal code of conduct
Complaints procedure