Itseisännöity

Itseisännöity is a Finnish term that translates to "self-managed" or "owner-managed." It refers to a situation where the owner of a property, typically an apartment building or a housing cooperative, takes on the responsibilities of managing the property themselves rather than hiring a separate property management company. This can include tasks such as collecting rent or maintenance fees, handling tenant issues, organizing repairs, maintaining common areas, and ensuring compliance with regulations.

The decision to self-manage can be driven by a desire to save money, as property management fees can be a significant expense. Owners might also believe they can manage the property more effectively or efficiently due to a deeper understanding of their own property and its residents. In smaller buildings, self-management might be more feasible as the workload is less demanding.

However, self-management also comes with challenges. It requires a considerable investment of time and effort, and owners must possess a certain level of knowledge in areas like accounting, legal matters related to rental properties, and building maintenance. There is also the potential for conflicts of interest or emotional involvement when dealing with residents who are also neighbors or fellow owners. In cases of complex issues or significant legal liabilities, professional management might be a safer and more suitable option. The feasibility of itseisännöity often depends on the size and complexity of the property, as well as the owner's availability and expertise.