Contingent rights and liabilities
Contingent rights
Bouwinvest has management agreements with the funds for an indefinite period with a two-year notice period, as well as a mandate with bpfBOUW regarding the International portfolios for an indefinite period with a five-year notice period. The management fee is calculated on the basis of net asset value and this is expected to be approximately € 38 million for the year 2018.
Contingent liabilities
This pertains to rental and lease agreements:
| | 2017 | 2016 |
First year | 1,746 | 1,641 |
Second to fifth year | 5,334 | 4,208 |
More than five years | 8,774 | - |
Total | 15,854 | 5,849 |
Bouwinvest Real Estate Investment Management B.V. is in talks with the Dutch tax office concerning the objectivity of the offsets relating to the redevelopment of the Damrak - Nieuwendijk projects in Amsterdam. The discussion centres on which part should be allocated to the redevelopment which Bouwinvest Development B.V. carried out on behalf of the Retail Fund NV. So far the results are unclear.