Housing companies should be proactive and prepare for basic renovations
It is worthwhile for a housing company to carry out basic renovations proactively. The renovations will affect the value of the flats while also indicating that the housing company is well managed. The housing company should plan renovations well in advance.
In Finland, blocks of flats built in the 1960-70s are currently facing the greatest need for basic renovations. Major renovation projects typically involve external surfaces or piping systems.
Once completed, the piping renovation boosts the sale of flats. A piping renovation is an investment that simply has to be done. It helps avoid smaller repairs and maintenance costs and also protects against unexpected water leakages.
Renovation solution for housing companies
The Renovation solution for housing companies is a flexible, cost-efficient and proactive solution that provides housing companies with comprehensive financing for renovation projects.
The Renovation solution allows the housing company to select an optimal financing option, gives protection against interest level fluctuation affecting the fees payable by shareholders, and also facilitates saving in advance, through shareholder fees, for future renovations.
The Renovation solution for housing companies is comprised of a renovation limit to cover actual payments during the renovation project, and a renovation loan to be utilised after the renovation is completed. These instruments ensure that the housing company has, at all times, access to an appropriately sized loan.
Alternatively, the housing company can utilise the renovation loan as soon as the renovation starts. The Renovation solution for housing companies provides protection against interest level increases and facilitates advance savings, an option that is increasingly being taken advantage of by housing companies.
Housing company insurances
Risks related to the housing company’s condition and safety can be managed. The real estate manager can do a lot to control the risks, but we offer assistance for the prevention of losses as well. The most common risks related to real estate properties include the risks of fire, leakage, moisture and burglary.
During an extensive renovation project undertaken by the housing company, the risks are increased and the insurance company must be informed accordingly. The currently valid insurance coverage should be reviewed for its scope and extended if necessary.
Correct insurance solutions for housing and real estate companies
An accurately dimensioned insurance will compensate for loss or damage. In case of an incident, our assessors will assist the housing or real estate company to ensure prompt and fair payment of compensation.