kinnisvaraühistu

Kinnisvaraühistu, often translated as a real estate cooperative or housing association, is a legal entity established to manage and maintain jointly owned property. In Estonia, these entities are commonly formed by owners of apartments or individual units within a larger building or complex. The primary purpose of a kinnisvaraühistu is to ensure the efficient and organized management of common areas, such as stairwells, roofs, elevators, and land surrounding the building.

Membership in a kinnisvaraühistu is typically mandatory for all property owners within the designated area. The cooperative's activities are governed by its statutes and Estonian law. Key responsibilities include collecting monthly maintenance fees from members, which are used to cover operational costs, repairs, and improvements. The cooperative's management is usually elected by the members and is responsible for day-to-day operations, financial oversight, and executing decisions made at general meetings.

General meetings are a crucial part of a kinnisvaraühistu's functioning, where members can discuss issues, vote on proposals, and elect management. Decisions are often made by majority vote, though certain significant matters may require a higher threshold. The cooperative can also enter into contracts with service providers for maintenance, cleaning, and repairs. The establishment and operation of a kinnisvaraühistu aim to protect the value of the property and ensure a pleasant living environment for all residents.