yhtiövastikkeesta

Yhtiövastike, often translated as housing company fee or service charge, is a recurring payment made by homeowners or shareholders in a housing company (osakehuoneisto) in Finland. This fee is essential for the day-to-day operation and maintenance of the property. The purpose of the yhtiövastike is to cover the shared expenses of the housing company, which are typically divided among the shareholders based on their ownership percentage, usually indicated by the number of shares in the company.

The components of the yhtiövastike can vary significantly depending on the housing company and its services. Common expenses included are maintenance and repairs of common areas like stairwells, elevators, and exterior building structures. It also often covers utilities for these common areas such as electricity and water, as well as waste management services. Furthermore, the fee may include insurance for the building, property taxes, and sometimes even ongoing loan payments for the housing company, especially if there are mortgages on the property for renovations or construction.

Some housing companies also offer additional services through the yhtiövastike, such as internet access, cable television, or even access to shared amenities like saunas, laundry rooms, or recreational facilities. The exact breakdown of costs is usually detailed in the housing company's budget, which is approved annually by the shareholders. Shareholders have the right to review this budget and the company's financial statements. Changes to the yhtiövastike are typically decided at the annual general meeting of the housing company.