borettslagboligselskaper

Borettslagboligselskaper, often referred to as borettslag, are a common form of housing ownership in Norway. They represent a cooperative housing model where individuals purchase a right to use a specific dwelling unit within a larger property, rather than owning the unit outright. The property itself is owned collectively by the members of the borettslag.

Each borettslag is governed by a set of rules and regulations, outlined in its statutes, and managed by a board elected by the residents. Members pay a monthly fee, known as a felleskostnad, which covers the operating costs of the building and common areas. This fee typically includes maintenance, insurance, property taxes, and often includes interest and installment payments on the borettslag's underlying loan.

When purchasing a unit in a borettslag, buyers acquire a "andelsrett," which grants them the right to occupy a particular apartment and to use common facilities. The value of this right is the purchase price. Residents have a strong say in the management and development of their community through general meetings. Borettslag are a significant part of the Norwegian housing market, offering an alternative to outright ownership and promoting a sense of community among residents.