What does a housing company shareholder own and answer for?

In everyday speech you own your flat, but legally, owning an apartment in a block of flats or a terraced house is not the same as owning a detached house. You do not own the building, the stairwell, the roof or the pipes, not even the wall with your neighbour on the other side. You own shares that give you the right to occupy an apartment, and with them come maintenance responsibilities and obligations, some of which were changed by an amendment to the law that came into force on 1 October 2026.

Shares give the right of occupancy

Under the Limited Liability Housing Companies Act (asunto-osakeyhtiölaki, 1599/2009), a housing company is a limited company whose purpose is to own and manage a building in which the apartments are mainly homes occupied by the shareholders. When you buy an apartment, you buy shares in the company. They entitle you to occupy the apartment specified in the articles of association.

The Act distinguishes between two things:

• ownership: the company owns the building and usually also the plot or the lease on it
• right of occupancy: your shares give you the right to occupy and use a specific apartment.

You own a share of the common property indirectly, through your shares. That is why the company, not an individual shareholder, decides on replacing the roof, the colour of the facade or the ventilation system.

The main rules on maintenance responsibility

Maintenance responsibility is divided according to chapter 4 of the Limited Liability Housing Companies Act, unless the articles of association provide otherwise:

• The company maintains the structures, insulation and windows, as well as the building systems, such as the heating, electrical, data transmission, water, drainage and ventilation systems. It is also responsible for the common areas and the yard, and for the building’s exterior surface where the balconies are.
• The shareholder maintains the interior of their apartment, such as surface materials, built-in fittings and household appliances.

The shareholder is not responsible for ordinary wear and tear resulting from normal use of the apartment. Always check your own company’s division of responsibilities table and articles of association, as the shareholder’s responsibility can be wider than usual, especially in small companies and semi-detached houses.

The shareholder’s obligations

Under the Limited Liability Housing Companies Act, a shareholder must, among other things:

• pay the maintenance charge in accordance with the articles of association
• maintain the interior of their apartment and look after it with care so that the structures and systems the company is responsible for are not damaged (chapter 4, section 3)
• notify the company without delay of defects and deficiencies that the company is responsible for repairing (chapter 4, section 8)
• notify the board or the property manager in writing in advance of alteration work that may affect structures that the company or another shareholder is responsible for, or the use of another apartment (chapter 5, section 2)
• allow the company’s representative into the apartment when this is necessary to monitor its condition or because of maintenance or alteration work (chapter 8, section 1).

In addition, the apartment must be used in a way that does not cause damage or unreasonable disturbance to other residents.

What changed on 1 October 2026

The amendment to the Limited Liability Housing Companies Act (535/2026) came into force on 1 October 2026. The key points for shareholders are:

• Windows are, under the Act, the company’s maintenance responsibility as a whole, unless the articles of association provide otherwise. Maintenance provisions already in the articles of association remain in force. Read more about the change in responsibility for windows.
• The duty of care also covers company spaces and areas that the shareholder uses where the right of possession is not based on the articles of association or a lease, such as the yard area in front of the apartment or a storage space made available to the shareholder. Defects in these must also be reported to the company without delay. The shareholder has no maintenance responsibility for these spaces.
• Alteration work: the shareholder is responsible for maintaining the alterations they have made and for any additional maintenance costs these later cause the company.
• Tenants: a shareholder who has let their apartment must keep information on who occupies it and provide that information to the company on its justified request.

The limits of renovating

Painting, furniture and household appliances are entirely up to you. Notification is needed when the work may affect structures or systems that the company or another shareholder is responsible for, for example:

• bathroom and kitchen renovations involving waterproofing, drains or water pipes
• changing the flooring, as this can affect impact sound insulation
• electrical work and changes to ventilation
• removing or moving walls.

The company may set conditions on the work if they are necessary to prevent damage or disturbance. It may prohibit the work only if it would be unreasonable in relation to the disturbance caused and the benefit to the shareholder. For changes to spaces controlled by the company, such as installing the outdoor unit of an air source heat pump on the facade, you need the company’s consent before starting work. The procedure is explained in more detail in the article alteration work by a shareholder.

When the company may enter your apartment

The privacy of the home is strongly protected, but the company must look after the whole building. Board members, the property manager and anyone authorised by them have the right of access to the apartment when it is necessary to monitor its condition or to carry out or supervise maintenance or alteration work (chapter 8, section 1).

The visit must be arranged at a time that suits the shareholder and the resident, unless the urgency of the work prevents this, as in the case of a water leak. Under the Rescue Act (pelastuslaki), the building owner also has the right of access to an apartment to install and maintain smoke alarms.

What the maintenance charge is used for

Through the maintenance charge, shareholders jointly fund the company’s expenses: heating, property electricity, maintenance, cleaning, insurance, waste management, property management and repairs. You are not paying for the right to live in your own home, but for keeping the shared property in good condition. When the company sets conditions on a renovation or decides on shared repairs, it is also protecting your share of the building.

Alongside these obligations, shareholders have strong rights: they can attend the general meeting, ask questions, have a matter placed on the agenda and request documents concerning their own apartment. These are covered in the article being a shareholder in a housing company.

Frequently asked questions

Who is responsible for windows after the change in the law?

Under the Act, the company from 1 October 2026, unless the articles of association provide otherwise. The shareholder must still look after the windows with care and report any defects in them.

Is the shareholder responsible for wear and tear?

Not for ordinary wear and tear. If damage results from careless use or from a defect not being reported in time, the shareholder may be held liable.

Can the company enter the apartment without permission?

Yes, for the reasons set out in the Act, but the visit is arranged at a time that suits the resident, unless, for example, a water leak requires immediate access.

Always check your own housing company’s articles of association too. Sources: Limited Liability Housing Companies Act 1599/2009, Finlex (in Finnish) (opens in a new tab); Act amending the Limited Liability Housing Companies Act 535/2026, Finlex (in Finnish) (opens in a new tab).

This article provides general information and does not replace case-specific legal or technical advice.