hoonestusühistu

Hoonestusühistu is an Estonian term that translates to "building cooperative" or "housing cooperative." It refers to a form of ownership and management of residential buildings, typically apartment buildings. In a hoonestusühistu, individuals who own apartments within a building also collectively own and manage the common areas and the building structure itself. This is achieved through the formation of a legal entity, the hoonestusühistu.

Members of the hoonestusühistu are typically apartment owners. They contribute financially to the maintenance, repair, and management of the building through regular payments or fees. The cooperative operates under a set of statutes or bylaws that govern its activities, including decision-making processes, financial management, and the rights and responsibilities of its members. Decisions are usually made through general meetings of the members, where voting rights are often proportional to the ownership share or apartment size.

The primary purpose of a hoonestusühistu is to ensure the efficient and cost-effective management and upkeep of the residential building. It allows for shared responsibility and collective decision-making, aiming to preserve the value of the property and provide a good living environment for its residents. This model is common in Estonia for managing apartment blocks, offering an alternative to individual ownership of detached houses or management by external property management companies.