korteriühistust

Korteriühistu is an Estonian legal entity that represents the owners of apartments in a residential building. Its primary purpose is to manage and maintain the common areas and facilities of the building, such as the stairwells, roof, heating systems, and elevators. Membership in a korteriühistu is automatic for all apartment owners within the building.

The korteriühistu is governed by a board, elected by the apartment owners. The board is responsible for implementing the decisions made by the general meeting of apartment owners, overseeing the financial management of the building, and ensuring that maintenance and repair work is carried out. Decisions regarding significant matters, such as major renovations or changes to the building's management, are typically made at the general meeting, where each apartment owner has voting rights, usually proportional to their share of ownership.

The korteriühistu collects monthly fees from apartment owners to cover the costs of maintenance, repairs, utilities for common areas, and any necessary reserves. The financial activities and operations of the korteriühistu are subject to Estonian law, specifically the Law of Property Act. The aim of a korteriühistu is to ensure the long-term preservation and value of the apartment building and to provide a well-maintained living environment for its residents.