Asuntoosakeyhtiöitä

Asuntoosakeyhtiöitä, often translated as housing companies or apartment companies, are a fundamental part of the Finnish housing market. They are a form of legal entity that owns a property, typically an apartment building or a block of houses. Individuals do not own their apartments directly; instead, they own shares in the asuntoosakeyhtiö. The number of shares an individual holds determines their ownership percentage of the entire property and their right to use a specific apartment.

Owning shares in an asuntoosakeyhtiö grants the shareholder the right to occupy a particular apartment, as stipulated in the company's articles of association and the housing agreement. This right of use is often referred to as a 'huoneisto' or 'asunto'. Shareholders are responsible for paying monthly housing company fees, known as 'hoitovastike', which cover the maintenance, repairs, and operational costs of the building, such as heating, water, and waste management. In addition to the maintenance fee, shareholders may also be required to contribute to larger renovation projects or loan repayments through separate charges called 'yhtiövastike' or special assessments.

The shareholders elect a board of directors, often including a chairperson, who are responsible for managing the company's affairs, overseeing finances, and making decisions regarding maintenance and improvements. An annual general meeting is held where shareholders can vote on important matters, approve financial statements, and elect board members. This cooperative ownership structure means that decisions affecting the property are made collectively by the shareholders. Asuntoosakeyhtiöitä are regulated by Finnish law, primarily the Asunto-osakeyhtiölaki (Housing Companies Act), which outlines the rights and responsibilities of both the company and its shareholders.