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Our rents will increase by an average of 4.9 per cent at the beginning of 2024
We review our rents once a year, and adjustments to apartment rents take effect at the beginning of the following year. The average rent increase for the year 2024 has been confirmed at 4.9 per cent.
Our rent determination is based on a cost-price principle. This means that we charge rents to cover the costs of property usage, maintenance, and financing. In addition, we use the rent income to pay off loans and fund renovations, as well as the construction of new apartments from our own resources.
The magnitude of the rent adjustment varies by property
The increase in the prices of district heating, water, materials, and services, as well as interest rates on loans, has been significant this year as well, which is why rents will increase by an average of 4.9 percent at the beginning of the next year. However, the size of the increase varies by property.
In the case of Espoon Asunnot properties, 27 of them will see an increase of less than 4 per cent, while the rents of the majority, 244 properties, will be adjusted between 4 and 5.5 per cent. For 47 properties, the rent will increase by over 5.5 per cent at the beginning of the next year.
As a resident, you will receive the rent payment letter during October. It will indicate the rent for your own apartment, which will take effect on January 1, 2024