Yhtiövastikkeen

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. The budget covers a wide range of expenses, including regular maintenance and repairs of common areas such as stairwells, elevators, and the building's exterior. It also funds essential services like water, heating, and waste disposal. In many cases, electricity for common areas is also included.

Furthermore, the yhtiövastike contributes to the housing company's reserve fund, which is set aside for larger, future renovations or unexpected repairs. This can include significant projects like façade renovations, roof replacements, or plumbing system upgrades. Some housing companies may also include loan repayments for the building in the yhtiövastike.

The proportion of the yhtiövastike that each shareholder pays is usually based on their ownership share (omistusosuus) in the housing company, which is often determined by the size of their apartment or its calculated value. Transparency is key, and housing companies are expected to provide detailed financial reports to their shareholders, outlining how the yhtiövastike is utilized. Shareholders have the right to review these finances and participate in decision-making processes at general meetings.