Between handover and exit is the decade nobody underwrites
I'm Jeroen Janssen. I develop and I invest. I speak about the one variable that decides whether a building can be lived in for ten years, and what it costs when it cannot.
Four kinds of people speak about this. I am none of them
Consultants, who cannot get the data. Academics, who read the market and not the asset. Operators, who are selling their own building. Vendors, who are selling software.
I am a principal. I develop, I invest, and I sign off on the model. That is why I can show you the numbers, including the ones that did not work.
Housing is not real estate. It is infrastructure for life
A home is the most repeated environment in a person's life. What a design meeting decides surfaces years later as behaviour, then as operating cost, then as a line in the pro forma. The chain is long, but it is one chain.
Decision
A floor plan, a brief, a budget line
Behaviour
How people actually live
Operation
Turnover, service load, arrears
Pro forma
NOI, stabilisation, lease-up
Exit
The cap rate does the rest
The resident pays first
Sleep that does not come back. Older neighbours who stop coming downstairs. Communities that never form because nobody planned the social geometry.
The owner pays later, with interest
Turnover above underwriting. Lease-up drag on phase two. Amenities written down at the first refit. The same bill, re-invoiced on a slower clock.
Experience is not soft. It is causal
Treat the lived layer as decoration and it fails quietly and expensively. Engineer it as the load-bearing structure it is and the building performs. For the people inside it and for the capital behind it.
See the room before you book the room
The stage reel is being filmed this autumn and lands here in October, together with one unedited talk in full. Until then, this is what the work looks like.
One perspective. Three entries
The brochure and the decade
A building is designed for handover. It is lived in for ten years. The gap between those two documents is where phase two loses its lease-up.
The fifth diligence
Four desks sign off before capital commits. Technical, commercial, legal, ESG. None of them reads the asset as the most repeated environment in a person's life.
Housing as the city's fourth utility
Water, power, transport, housing. Three of them are underwritten as infrastructure. The fourth is still traded as a product.
Three ways to put this in a room
The keynote
45 minutes solo. A 20-minute cut exists, because most Dutch stages ask for one. No panel, no moderation, no framework deck.
The roomMOST BOOKED
A closed session for an MT, an IC or a supervisory board. 90 minutes, max 25 people, with an intake on your own portfolio beforehand. Not a general talk. Your assets.
The day
Keynote plus a working session on your own schemes, with a written read afterwards. Multi-day formats exist for procurement models.
Where I speak
Provada
RAI Amsterdam. Six sessions on the Liven World floor
Liven World session
Amsterdam. Invited session for architects and development partners
Coliving Awards
London. Judging the sector's best work
UCRE stage · Budapest
Living-sector keynote
UCRE stage · Paris
Living-sector keynote
UCRE stage · Munich
Living-sector keynote
Tell me about the room
The more you tell me about who is in the room, the sharper the talk gets. Every brief is answered within 24 hours, including the ones I decline.