What is right-of-occupancy housing?

What does right-of-occupancy mean in practice? Learn the basics of right-of-occupancy housing.

Viable housing option

Right-of-occupancy housing is an excellent option if you cannot or do not want to tie hundreds of thousands of euros to an owner-occupied apartment or pay an expensive monthly rent – and still want to live in a high-quality dwelling. As a right-of-occupancy resident, you do not own the apartment, but you have rights to the apartment that are comparable to the owner’s rights. This means, for example, that you can renovate the apartment to your liking and influence common matters. When your housing needs change, you can give up the apartment without having to worry about selling it – we will redeem it from you!

Prerequisites for right-of-occupancy housing

  • 18 years of age
  • No owner-occupied dwelling in the same area or sufficient funds to buy an owner-occupied apartment
    • The wealth limits do not apply to persons over 55 years of age
    • Income does not affect your eligibility for the apartment

Right-of-occupancy payment

You get the right to occupy the apartment by paying 10–15 per cent of its original price. After that, you will only pay a monthly residence charge that is smaller than the market rent level. The right-of-occupancy contract is valid as collateral for a bank loan, and the interest on the loan is deductible. When you give up your apartment, you will be refunded the right-of-occupancy payment, adjusted by the building cost index.

Avain right-of-occupancy apartments

We offer thousands of right-of-occupancy apartment across Finland, from Rovaniemi to Helsinki. We have apartments in different sizes that are suitable for different situations in life. The apartments are located near good services, in popular and comfortable residential areas. We want to offer our customers service that is based on their needs, high-quality apartments and a comfortable living environment.

Security deposit

Avain charges a security deposit of 250 euros from its right-of-occupancy residents before they move in. The deposit will be refunded when the resident moves out, if they have paid the residence charges and taken care of other contractual obligations properly and the apartment is in acceptable condition.