Asuntoosuuskunta

Asunto-osuuskunta is a Finnish form of housing ownership where residents become shareholders in a housing cooperative and have the right to occupy a dwelling owned by the cooperative. The cooperative owns the building and the land, and each member holds a share (osuus) that entitles them to live in a specific dwelling. The dwelling itself is not privately owned; the member’s rights are tied to the share and the cooperative’s assets.

Governance is based on a cooperative model. The general meeting is the highest decision-making body, and typically each member has one vote. The board handles daily management and administration. Major decisions, such as budgets and large-scale investments, are usually made at the general meeting.

Membership and obligations include purchasing a share and being admitted as a member. Members pay monthly maintenance charges (hoitovastike) and may contribute to reserve funds for major repairs. They must follow house rules and participate in cooperative activities as outlined in the cooperative’s bylaws. Transfers of shares and the right to occupy a dwelling generally require the cooperative’s approval, and many cooperatives have a right of first refusal for new members.

Finances center on shared responsibility for the building. The cooperative funds maintenance, repairs, and any loans through charges and internal financing. The value of shares depends on the cooperative’s finances and market conditions, and large repairs can affect member contributions.

Compared with a housing company (asunto-osakeyhtiö), the key difference is that ownership lies in the cooperative and its shares rather than in individual real estate units, and voting is typically one member, one vote rather than proportional to ownership shares.