A responsible landlord

VVO Group's rent trends are predictable. VVO determines maximum rent increases in accordance with its rental practice. The criteria for determining rents are discussed and approved annually by the Board of Residents and at theme evenings organised by the residential management.

Rents are determined using either a market-based or cost-principle approach. The rents for approximately 66 per cent of our apartments are market-based, while the remaining 34 per cent employ the cost principle. Rents for market-based rental properties can be freely determined. VVO determines its market-based rents so as to support the sustainable growth objectives.

VVO Group offers rental housing in areas where demand is high. Sound financial management, systematic property maintenance, and preventative repairs facilitate moderate and predictable rent trends. The construction of new properties also increases the availability of rental housing and helps to ensure moderate rents.

The company offers a versatile range of rental housing that caters for residents' changing needs. Dialogue with residents and close cooperation with residents' associations increase safety and comfort.

A good customer experience, encompassing easy and effortless service, is the guiding principle behind VVO’s operations.

We use the results of our customer satisfaction survey to develop our operations. In 2014, we developed solutions to increase customer satisfaction, for example, in the areas of waste management and cleaning.

Through the Board of Residents, VVO regularly engages in open discussion with residents about maintenance-related guidelines and operating models. 2014 saw debate on issues such as building management and sauna bookings.

We manage and develop our properties through long-term investments, cost-efficient maintenance and repairs. Our focus is on increasing the value of our property portfolio and ensuring that our properties are available for rent.

Cost-effective maintenance and repairs in 2014:

• The Technical Centre was established in the Helsinki Metropolitan Area and the number of technical personnel was increased.
• Quality controllers for property maintenance and cleaning were hired.
• The repair process was revamped, including a more systematic approach to planning repairs
• Personnel were hired to analyse the need for future repairs to our property stock
• Competitive bids were sought for almost all repairs and renovation projects exceeding EUR 5,000.
• We leveraged economies of scale by increasing our volume of centralised procurements.

VVO is strengthening its balance sheet by developing and steering its financial and property portfolio management. We invest in risk management, leadership and expertise, and in enhancing our capacity for innovation.

Value chain