HOUSING COMPANY MONTHLY CHARGES

 

Housing Company Charges are set in the Housing Company  articles of association.

A Housing Company shareholder is obliged to reimborse to the Housing Company his/her share in the Housing Company expences, based on the principle set in the articles of association of the housing company. The charges mentioned above shall not be mixed with any lease or over similar payments.

 

Housing Company expences , which are in line with housing company law, articles of association or contract can be covered by the charges mentioned above.

 

Such expences are Real Estate acquisition and construction; usage and maintenance; plot of land lease; heating, water supply and waste handling; cleaning and lighting of the common areas of the housing company; management and maintenance companies fees; real estate insurances and taxes ; repair costs; additional construction or major renovation costs.

Basis for the Monthly Charges

The basis for the charges shall be set in the articles of association. Apartment square, for example, can be choosen as the basis for the charges. Additionally,  water, electricity, heating or other commodity  which is possible to calculate based on factual consumption or reliably  estimate can be the basis for the charges. A Housing Company shareholders meeting shall decide on the  amount of a charge. The meeting determines the unit price of the charge. Housing Company Monthly charges (Yhtiövastike) consists of Maintenance/Management Charge (hoitovastike) and possible Charge for financial costs / Charge for capital costs (Rahoitusvastike / Pääomavastike).

Maintenance/Management Charge (hoitovastike) covers the Housing Company real estate maintenance costs and heating. Charge for financial costs / Charge for capital costs (Rahoitusvastike / Pääomavastike) in its turn covers Housing Company loans related costs, such as interest and principal of those.

Usually, depending of the article of association and/or  decision of  the shareholders meeting of a housing company, the shareholder has an opportunity to repay the housing company loan by, for example, one time payment at any time.

In addition to the mentioned above a Housing Company can collect different charges such as water, parking places, internet connection and common sauna usage.

In accordance with the Housing Company law (of 1.07.2010) The board of a Housing Company is obliged to present the shareholders' general meeting a written report of the maintenance needs of the company's buildings and property in the period of five years following the meeting. Therefore, a long-term repair program can be drawn up for the company, usually by the housing company board and property manager together or by an independent expert in building care. Usually, this occurs in practice with the help of building condition assessment and a technical long-term maintenance plan. The plan defines likely service life, repair need, repair method and anticipated repair cost for each building element. The condition assessment ad maintenance plan gives the shareholders of the housing company an overall picture of the condition of the property and buildings, future repair needs, their recommended repair schedule and estimated costs.
Housing Company Charges are set in the Housing Company  articles of association.
A Housing Company shareholder is obliged to reimburse to the Housing Company his/her share in the Housing Company expenses, based on the principle set in the articles of association of the housing company. The charges mentioned above shall not be mixed with any lease or over similar payments.
 
Housing Company expenses, which are in line with housing company law, articles of association or contract can be covered by the charges mentioned above.
 
Such expenses are Real Estate acquisition and construction; usage and maintenance; plot of land lease; heating, water supply and waste handling; cleaning and lighting of the common areas of the housing company; management and maintenance companies fees; real estate insurances and taxes ; repair costs; additional construction or major renovation costs.