Before appropriation of result, all amounts in € thousands

For 2019, before appropriation of profit, all amounts in € thousands

All amounts in € thousands

The Residential Fund (Chamber of Commerce number 34366452) is a public limited liability company incorporated under the laws of the Netherlands, with its corporate seat in Amsterdam, the Netherlands.

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied unless otherwise stated.

The risk management function within the Fund is carried out with respect to financial risks. Financial risks are risks arising from financial instruments to which the Fund is exposed during or at the end of the reporting period.

Estimates and judgements are continually evaluated and are based on historical experience and adjusted for current market conditions and other factors.

A spread by core regions is applied in the analysis of the valuation of the investment property portfolio.

The Fund leases its property investments in the form of non-cancellable operating leases. The nature of the theoretical rent has an indefinite duration because there are no fixed contract periods.

In 2019, € 0.2 million (2018: € 0.6 million) of the maintenance expenses related to unlet properties.