What is M2-Kodit?
M2-Kodit (M2 Homes) is a company owned by Y-Foundation, a public-benefit operator that is in charge of managing and renting out regular ARA system rental flats owned by the foundation in 30 towns in Finland.
How do I get a flat from M2-Kodit?
The application form contains questions that help us offer a flat to the person in most need. Essential information when choosing tenants:
- the applicants’ personal data
- their need for a flat
- the income and assets of the applicant household members
- information regarding the flat being applied for
- information on their current flat
Am I eligible for applying for a flat?
Individuals and families that fulfil the tenant selection criteria for state-subsidised and interest-subsidy dwellings can be selected as tenants. The criteria include the applicant household’s need for a flat, their assets and income.
What attachments are required for the application?
- Before signing the lease, the applicants are requested to submit the following attachments:
- tax certificates from all persons over 18 moving into the flat
- pay slips from persons who work
- proof of the amount of pension
- statement of the fair value of their assets if the applicants have any
- other possible documents the applicant wishes to use to back their case, such as a maternity certificate
- a court decision on your obligation to move out of your current flat.
What are the criteria for state-subsidised dwellings?
The tenant selection is based on social relevance and financial need. These are evaluated based on the applicant household’s need for a flat, their assets and income. The Finnish Government has confirmed more specific tenant selection criteria, which are used when selecting tenants. For more information, please contact ARA, The Housing Finance and Development Centre in Finland.
Where are the M2-Kodit flats located?
Flats are located around the country in 30 different towns. You can search for flats in our site’s apartment search. The section Muut kohteet (Other locations) contains flats that are owned by M2, but their management and rent services have been outsourced to another operator. For example, our flats located in Rovaniemi and Kotka can be found on the “Other locations” page.
How are the flats financed?
The flats are financed solely through rental revenue. The rent rates in ARA rental flats are determined according to the absorption principle. This means that the rent charged from the tenants can only amount to the sum needed, together with other income, to cover the financing of flats and related facilities and the expenditure for managing the properties in an appropriate fashion. ARA steers and monitors the setting of these cost price rent rates.
What do I do if my rent is late?
If you know your rent will be late, you should contact the M2 rent supervision immediately. If the matter is not settled and arrangements made for a payment schedule, the tenant will be sent a reminder. The reminder increases the rental debt by the amount of recovery costs (5 euros). Please contact M2-Kodit customer service if you have any questions concerning the reminder you have received.
A two-month rental debt can result in termination of tenancy and discrepancies in the credit score.
What do I do if my neighbour is causing disturbance?
The building rules prohibit activities that disturb the other occupants. If the disturbance is continuous or repeated, you should talk to your neighbour about it. Often a neighbour might not realise that sounds carry next door, causing disturbance. Follow common sense when deciding if you should talk to your neighbour. In case of a domestic dispute, for example, it is better to call the police than to try to solve the situation by yourself.
If talking does not help, make a written complaint of the disturbance and contact the building supervisor or the tenant secretary. Describe the disturbance, as well as when and at what time it happens. A form for reporting disturbances can be found on the tenant pages. In case of a serious disturbance, the complaint must come from at least two neighbours.
What should I do if I am away from the flat for an extended period?
If you are away for an extended period of time, for example on a summer holiday, you should notify someone, such as your next-door neighbour, for instance. Before you leave:
- Make sure all the electrical appliances have been disconnected and are not on stand-by mode
- close the washing machine’s shut-off valve
- check that the windows and balcony door are closed and the lights have been switched off
- empty the bins
Who will be registered into the register of occupants?
A new tenant must submit a notification of move at the Population Register Centre and the maintenance company, i.e. the register of occupants. Only after this can reservations be made for a parking spot or a sauna slot. All those moving in must be registered into the register of occupants.
What is the period of notice?
The period of notice is determined by the Tenancy Act. The period of notice is one whole month. The period of notice begins at the last day of the month when the notice is given. For example, if the notice is given on 20 August, the period of occupancy and rent responsibility last till 30 September.
The termination of a lease must always be done in writing. The termination is done using a termination form which must be signed. A signature is required from each person that signed the lease.
When will I get back my security deposit after moving out?
It is important to remember to write your bank account number where your security deposit will be returned on the termination form. The security deposit will be returned to your account, as per good practices, within a reasonable time period after the lease has ended. To receive the security deposit back in full requires that:
- the flat is in order at the time of release
- all the keys belonging to the flat have been returned on time
- there are no outstanding rental debts
How big is the security deposit?
No security deposit will be collected with new leases after 23 May 2016. If there are discrepancies in the applicant’s credit score, the security deposit will be equal to one (1) month’s rent.
The security deposit can either be a money deposit or an open-ended commitment of expenditure from the social services. We do not accept fixed-term commitments. The security deposit must be paid before signing the lease. A new tenant must present a receipt of the security deposit payment when collecting the keys.
After the agreement has been terminated, the lessor may use the security deposit to cover any unpaid rents and different expenses resulting from use as well as wear and tear. The security deposit can also be used to cover the expenses from damage caused by the tenant, cleaning costs and costs from debt collection. When the flat is in an appropriate condition and the tenant has taken care of all his/her obligations, the security deposit is returned within a reasonable time after the lease has ended.