Affordable and Flexible Living

Right-of-occupancy housing is a more affordable way to live than renting, as you only pay a monthly occupancy charge instead of higher rent. To obtain an apartment, you only need to pay a right-of-occupancy fee, which is 15% of the acquisition price. The fee is refunded with index adjustment if the agreement is terminated.

Housing allowance can be applied for the occupancy charge in the same way as for rent. The right of occupancy can be transferred to another apartment if needed and can also be inherited.

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Calculations

Vaasa City Centre

45 m² (1 room + kitchen + sauna)

Rent level: €17.54 / m² / month
Occupancy charge: €10.95 / m² / month
Annual savings: €3,558.60

Gerby

75 m² (3 rooms + kitchen + sauna)

Rent level: €11.24 / m² / month
Occupancy charge: €9.50 / m² / month
Annual savings: €1,566

 

 

Loan or Own Capital?

Explore the calculations where the right-of-occupancy fee (15%) is financed in two different ways.

The rent level figures in the examples are based on data collected by the service asunnonhinnat.fi (2024 Q3). Inflation assumptions are based on the ECB target of 2%, and a total interest rate of 3% has been used in the calculations.

 

Ten-Year Calculation

 

 

 

Interested? Contact Us

 

 

Sales of right-of-occupancy apartments, apartment exchanges and transfers

Kati Jaaksi

044 541 12 17
[email protected]
The information submitted via this form will only be used for a single contact by Vaasan Asumisoikeus.
Experiences from Our Residents
erklehtimki

No need to worry

“I have lived in right-of-occupancy apartments for 30 years at different addresses. I have changed apartments as my life situation has changed. I would never move away, because living is safe and secure. The right-of-occupancy fee or the right itself can be inherited.”

Erkki,  79 v
Gerby

ASO Nina Julin

Ease of Living

“I have lived in my current apartment for nine years and am very satisfied. One of the excellent features of right-of-occupancy housing is how easy it is to live. You can get help with everything from the property management office.”

Nina Julin (born 1963), Vaasa city centre

 

LR1

Permission to Renovate

“It’s great that in a right-of-occupancy apartment you can implement your own ideas. We have done some small renovations. For example, we removed the shower cabin and installed shower doors, and also replaced the sauna heater with a new one.”

Leila and Juha Peltonen, Vaasa city centre

chrissten

Things Are Taken Care Of

“In our housing company there are both older and younger residents. For us older residents, it feels good that all matters related to the housing company are taken care of. Younger people also have the opportunity to obtain a right-of-occupancy home at a reasonable cost.”

Christian Holmsten (born 1954), Vaasa city centre

Six Reasons to Choose Right-of-Occupancy Housing

AFFORDABLE
Housing costs are reasonable compared to privately financed rental apartments.

SMALL LOAN
A large bank loan is not required for the right-of-occupancy fee. The right-of-occupancy agreement is accepted as loan collateral, and interest on loans taken for right-of-occupancy housing is tax-deductible.

NO TRANSFER TAX
No transfer tax is payable for a right-of-occupancy apartment.

EASY TO CHANGE
When housing needs change, you can switch to another right-of-occupancy home through a mutual exchange.

RENOVATION ALLOWED
You may renovate your apartment according to the agreement.

LIFELONG HOUSING
Right-of-occupancy can be lifelong if you wish. There is no risk of unexpected termination as in rental housing.

 

Usein kysytyt kysymykset

Applying

Right-of-occupancy housing means that a person has the right to live in a specific apartment after paying a right-of-occupancy fee (max. 15% of the apartment price plus index adjustment) and a monthly occupancy charge. You can live in the apartment as long as you wish, but you cannot buy it. Residents are protected by termination security.

Right-of-occupancy combines the best aspects of ownership and renting. It is safe, secure and flexible. When you move, you do not need to worry about selling the apartment, and you will get your right-of-occupancy fee back adjusted by the construction cost index. Living is permanent like ownership but worry-free like renting.

They are intended for all persons over 18 who want to combine the flexibility of renting with the stability of ownership. There are apartments for different life situations and all age groups across Vaasa.

Applicants are unevenly distributed across locations, making waiting times difficult to estimate. The number of available apartments is also hard to predict.

First, apply for a right-of-occupancy queue number from ARA. The same number can be used to apply through all right-of-occupancy providers. The apartment is offered to the applicant with the lowest queue number. The number is valid for two years.

You pay up to 15% of the apartment’s original price adjusted by the construction cost index, plus a monthly occupancy charge. Usage-based fees such as water or parking may also apply.

Housing costs are lower than in privately financed rental housing. This is supported by statistics published by ARA and Statistics Finland.

Living

Residents may carry out maintenance and repairs by informing the owner. Alterations require the owner’s permission. Compensation may be paid for approved alterations when moving out.

Responsibilities are shared between the owner and resident according to a responsibility chart.

Temporary subletting is allowed for up to two years due to work, studies or other special reasons.

You can move to a vacant apartment using a queue number or exchange apartments directly with another right-of-occupancy resident. Priority is given for moves within the same property.

You must notify the owner in writing. The right-of-occupancy fee is refunded with index adjustment. The owner always handles the resale.

Three months.

After the agreement has ended.

Eligibility

There is no typical resident. Residents represent a broad cross-section of society: young and older singles, families, single parents and seniors.

There are no income limits. Applicants under 55 are subject to asset limits. Those aged 55 or older are exempt.

Assets may not be sufficient to finance half of the market value of the applied apartment. A home in the same municipality must usually be sold, while a home elsewhere may be retained within asset limits. Applicants aged 55+ are exempt from asset limits.