Vastike

Vastike is a Finnish term that broadly denotes compensation, fee, or charge. In common use it refers to the payment made for goods or services, and in contract-law contexts it can mean the consideration or price exchanged between parties. The exact meaning depends on the situation and wording of the agreement.

In everyday housing terminology, vastike most often refers to the monthly maintenance charge paid by residents of a housing company or housing cooperative (asunto-osakeyhtiö). The vastike covers the costs of operating and maintaining common areas, such as building repairs, heating and utilities for shared spaces, property management, insurance, administrative expenses, and any loan payments tied to the property. The amount is typically determined by the housing association’s board and approved by the shareholders at the annual general meeting, and it is billed to each owner on a regular schedule, usually monthly.

Components of a housing vastike can include basic utilities for common areas, maintenance reserves, and sometimes separate line items for heat, water, and waste. The structure and level of vastike can change over time, reflecting budget decisions, repairs, or fluctuations in service costs. Owners are obliged to pay on time under the association’s rules, and persistent non-payment can lead to reminders or legal actions as defined in the governing documents.

Outside housing, vastike may simply mean the consideration or fee paid for services rendered or for accepting a transfer of rights, with the precise scope determined by the contract in question. The term thus functions as a general label for compensation or charges in Finnish usage.