Taloyhtiöt

Taloyhtiöt, often translated as housing companies or housing cooperatives, are a common form of property ownership in Finland. A taloyhtiö is a legal entity formed by the owners of apartments within a building or a block of apartments. Each owner holds title to their individual apartment and a share in the joint property, which includes the land, building structure, common areas like stairwells and laundry rooms, and shared facilities such as saunas or storage spaces.

The primary purpose of a taloyhtiö is to manage and maintain the shared property. Decisions regarding repairs, renovations, common area usage, and financial matters are made collectively by the shareholders at general meetings. A board of directors, elected by the shareholders, is responsible for the day-to-day management and implementing the decisions of the general meeting. Often, a professional property management company is hired to assist the board with administrative and technical tasks.

Each shareholder is responsible for paying monthly maintenance fees, known as vastike, which cover the costs of managing and maintaining the common property, including utilities, insurance, and regular maintenance. Significant repairs or renovations typically require a separate extraordinary payment or an increase in the monthly fee. The shares in a taloyhtiö are transferable, allowing owners to sell their apartments. The specific rights and responsibilities of shareholders are outlined in the company's articles of association and Finnish housing company law.