Proposals for 2024 rents sent to residents’ committees for comment
The determination of rents has now progressed to circulation for comment. This means that the residents’ committees can now give their opinion on the property-specific rent calculations and suggest changes. The circulation for comment will last until 15 September. After that date, we will discuss the comments received and make any changes that we consider necessary.
Rent review needed due to challenging cost developments
We determine the rents we need to charge based on a cost-price principle. It means that we charge only as much money as we need to cover the usage, maintenance and financing costs of our buildings. In addition to the daily running costs, we use the rent money to repay loans, renovate our existing buildings and construct new buildings.
At the beginning of 2023, we increased rents by 3.5% on average. The increase was necessary because the prices of district heating, water, materials, services and interest rates on loans had increased significantly, and the same cost development has continued this year.
Because of the challenging cost development, we will need to increase rents again at the beginning of 2024. Espoon Asunnot now proposes to increase rents by 4.9% on average.
Rent letters to be sent to residents in October
We will confirm the rents for 2024 at the end of September and communicate about the confirmed rent on our website. During October, we will send residents letters about the rent we will charge for their home in 2024. The rent increases will take effect on 1 January 2024.