Yhtiövastike

Yhtiövastike, often translated as housing company fee or maintenance charge, is a recurring payment made by shareholders or residents of a housing company (osakehuoneisto) in Finland. This fee is essential for the operation and maintenance of the property.

The yhtiövastike is typically paid monthly and its amount is determined by the housing company's annual general meeting based on the company's budget. It covers a range of expenses, including the repayment of loans taken by the housing company for renovations or construction, interest on these loans, property maintenance and repairs, cleaning services, property insurance, salaries for any staff, and the costs associated with managing the property.

In some cases, the yhtiövastike may be divided into two parts: the hoitovastike (maintenance fee) and the pääomavastike (capital redemption fee or loan repayment fee). The hoitovastike covers the regular operating costs of the building, while the pääomavastike is specifically for repaying the housing company's debts. The proportion of these two parts can vary significantly between different housing companies.

Shareholders are liable for paying their yhtiövastike regardless of whether they reside in the property or rent it out. Failure to pay the yhtiövastike can lead to consequences, including the housing company initiating legal proceedings to recover the outstanding amounts and potentially even forcing the sale of the shareholder's apartment to cover the debt. The yhtiövastike is a fundamental aspect of co-ownership in Finnish housing companies.