Asuntoyhteisöjä

Asuntoyhteisöjä, often translated as housing communities or housing associations, are a common form of collective ownership and management of residential properties in Finland. They are established when multiple individuals jointly own a building or a block of apartments, typically in a condominium-style arrangement. Each owner holds title to their individual apartment and a share of the common areas, such as the land, stairwells, laundry rooms, and recreational facilities.

The primary purpose of an asuntoyhteisö is to manage and maintain the shared property and its common areas. This is usually handled by a housing company (asunto-osakeyhtiö) which is a legal entity. The shareholders of the housing company are the apartment owners. The housing company's board of directors, elected by the shareholders, is responsible for the day-to-day operations, including maintenance, repairs, budgeting, and enforcing the company's rules.

Decisions regarding the common property are made collectively, typically at general meetings of the shareholders. These meetings are where significant decisions, such as major renovations, changes to the rules, or the approval of annual budgets, are voted upon. Each shareholder's voting power is usually proportional to their ownership share in the company. Owners are obligated to pay monthly housing company fees (vastike) which cover the costs of maintenance, repairs, property taxes, and other shared expenses. This system ensures that all owners contribute to the upkeep and smooth functioning of their shared living environment.