DO YOU KNOW WHAT YOUR RENT CONSISTS OF?

Rent takes up a big chunk of income every month. That is why it is good to understand what your rent includes. At LOK + Lahden Talot, renting a home comes with great benefits and services.

The whole world and Finland have long been concerned about inflation, i.e. the fall in the value of money and the rise in consumer prices. It also makes us take a closer look at our own finances: where we spend most of our money and where we could possibly make more savings measures. With inflation rampant, there is also pressure to raise rents. The cost of your own housing it is understandable that as your housing costs increase, you may wonder how much you can afford to pay in rent.

At Lahden Talot, we always aim to keep our rent levels below the general market price level, as at the core of our operations is to offer reasonably priced homes. As a large rental housing company, this is possible for us. We check rents once a year, on 1 January. Even if the general cost level rises after this date, rents will not be increased until a year from that at the earliest.

Reasonably priced homes

A closer look at how rent is calculated helps you to understand what is involved.

The rent for a reasonably priced home in Lahden Talot is made up of three parts:

1. Capital costs include, among other things, the costs of building the property, property taxes and land rents. The capital costs account for EUR 4 per square metre of rent, rounded up to a total rent of EUR 13 per square metre per month.
2. Maintenance costs take up most of the rent, at six euros per square metre per month. Maintenance costs are incurred for the day-to-day running of the property, such as cleaning, heating, water charges, electricity, and clearing and sweeping the gardens.
3. Repair costs account for three euros per square metre per month of rent, rounded up, and include, for example, minor repairs to flats. For example, repairs to the roof of a building or maintenance of play areas also incur repair costs.

The blog was written by Petri Juvonen, CFO of Lahden Talot.