Preparing for housing company renovations
Major renovations in a housing company can raise the monthly charge or require you to pay a loan share of tens of thousands of euros. In this guide you learn to read the housing company's documents proactively and plan your own finances so the renovation does not take you by surprise.
You will need
- The property manager's certificate (isännöitsijäntodistus)
- The maintenance needs report
- The housing company's financial statements and budget
- Minutes of the general meetings
- Your own budget
Steps
Read the maintenance needs report
The board must present the annual general meeting with a report on the maintenance needs for the next five years. It shows you when major renovations are coming.
Check the long-term plan and condition surveys
Estimate the costs per square metre
Understand the financing options
Compare a lump sum with the financing charge
Attend the general meeting
Build a buffer in your own finances
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