asuntoosakeyhtiölakiin

Asunto-osakeyhtiölaki is the Finnish law that governs housing companies (asunto-osakeyhtiöt). A housing company is a limited liability company that owns the building and the surrounding property, and the residents hold shares in the company entitling them to occupy particular housing units. The Act defines the legal form, the rights and obligations of shareholders, and the governance and financial administration of a housing company. The company's by-laws, known as yhtiöjärjestys, regulate the specifics of use, rights of pre-emption on share transfers, and any restrictions on alterations to common areas.

The governing bodies are the general meeting as the supreme decision-making body, the board of directors, and, where applicable, the managing director or other officers. Major matters such as adoption of the budget, significant repairs or renovations, and changes to the yhtiöjärjestys require decisions by the general meeting. The board handles day-to-day management and contracts on behalf of the company, while financial matters follow annual accounts and audits; owners pay a maintenance and financing charge (vastike) to cover upkeep and any loans.

The Act also sets rules on the sale and transfer of shares, including the yhtiöjärjestys-based restrictions and the procedures for registering changes in ownership. It places responsibilities for building maintenance, safety, and timely repairs on the housing company and its board, with enforcement through the applicable authorities and courts.

In practice, Asunto-osakeyhtiölaki provides the framework for a common ownership model widely used in Finland, balancing property rights with shared responsibility for building maintenance and governance.