asuntoyhteisö

Asuntoyhteisö is a Finnish term that translates to "housing community" or "housing association." It refers to a type of residential property ownership where multiple individuals collectively own a building or a group of buildings, typically apartment buildings. In an asuntoyhteisö, each owner possesses a specific apartment unit and also holds a share in the common areas and the overall property. This shared ownership model is prevalent in Finland for apartment living.

The primary governing body of an asuntoyhteisö is the housing company (asunto-osakeyhtiö), which is a limited liability company. Owners are shareholders in this company, and their ownership of an apartment is represented by housing shares (asunto-osakkeet). The housing company is responsible for the management and maintenance of the building and its grounds. This includes tasks such as collecting maintenance fees from owners, overseeing repairs and renovations, and ensuring the overall upkeep of the property. Decisions regarding the management of the property are made during general meetings of the shareholders.

Residents in an asuntoyhteisö pay a monthly fee, often referred to as "vastike" or "hoitovastike," to the housing company. This fee covers the operational costs of the building, including maintenance, repairs, insurance, and often water charges. In addition to the operational fee, there may be separate charges for specific services or capital expenditures, such as major renovations. Ownership of housing shares in an asuntoyhteisö allows individuals to live in their apartment and participate in the decision-making processes that affect their living environment.