Appartments

The maintenance charges are 3 to 5 euros per 1 sq. m. Water and electricity are paid separately by the tenant (water costs are about 15-20 euros per person per month). The exact cost of maintenance is indicated in Investerra offer. The annual property tax is included in the maintenance charges so no extra payments are needed.

In Finland, almost all tenancy agreements require that tenant pays a rent security deposit. The rent security deposit usually is one to two months' rent.

The tenant is also required to pay the water rate and to sign an insurance contract and electricity contract with an electricity provider himself. The water rate is often determined according to the number of residents in the dwelling. Since apartments normally have central heating, it is included in the maintenance charges and rent. The landlord pays the maintenance charges himself.

The tenant's responsibilities are to pay rent on time, to maintain the apartment in normal condition, and to adhere to the rules of the building and housing company.

The primary criterion for obtaining a home loan in Finland is the borrower's capacity to repay the debt. However, banks are cautious and if you are not a resident of Finland you may face many hurdles. The best way of getting residential investment property loan is buying a new apartment. You have access to a housing company loan to finance your residential investment property. If you take advantage of the housing company loan, you do not have to commit yourself to a bank loan and you can become the owner of the apartment by paying only the sales price. The remainder of the debtfree price is paid to the housing company monthly as a charge for financial costs. Housing company loans are granted without separate collateral. You'll save time and effort as the housing company loan has already been agreed through competitive bidding.

Typically, the loan amount is up to 70% of the total cost of the apartment. Upon signing the sale agreement, you will only need to pay 10 to 20% of the apartment's debt-free price. The remainder of the sell-price is paid when your home is completed and you are ready to rent it out.

Usually, for the first 1–2 years after the apartment has been completed, you'll only pay the interest of the housing company loan. After this, the repayment of the housing company loan is added to the interest, increasing the amount of the charge for financial costs. You can also pay your proportion of the housing company loan in installments or altogether right before the construction of your home is completed. If you pay the housing company loan in full, you will not have to pay the charge for financial costs at all.

The apartment can be sold more easily if it is subject to a housing company loan. Potential buyers will not be turned away by the fact that they cannot secure a large enough loan from a bank.

In 2000 the government removed the requirement that a nonresident must obtain a permit to buy a secondary residential property in Finland, putting foreigners on exactly the same footing as Finns. Thus the duration of the purchasing process depends on time to find an appropriate investment property. Residential investment properties in Helsinki can be difficult to find, especially at the lower end of the market and buying decision is often required to be done quite fast. Therefore, Investerra puts a great emphasis on establishing highly reliable and rapid communication between our Customer and manager. We use different kind of channels of communication, such as WhatsApp, Viber, Skype, Imo etc. As for the purchasing procedure it usually takes about two weeks to complete all procedures.