Rental housing

The financial occupancy rate has remained at an excellent level, standing at 98.2 (98.2) per cent for the review period. During the review period, 343 (113) new privately-financed rental apartments were constructed by VVO in Helsinki, Hämeenlinna, Oulu, Tampere, Turku, Jyväskylä and Vantaa.

At the end of the review period, 394 (225) apartments were vacant due to renovations. Overall turnover was 13.5 (13.1) per cent. Turnover excluding internal exchanges was 11.0 (10.7) per cent. The average rent per square metre in apartments where rent can be freely determined (the Market product group) – a total of 26,349 (23,593) apartments – was EUR 13.21 (12.82) at the end of the period, and EUR 13.05 (12.65) for the full period. The corresponding figures in apartments leased for cost-price rent (the cost principle product group), a total of 14,113 (16,258) apartments, were EUR 12.41 (11.94) at the end of the period and EUR 12.34 (11.86) on average during the period.

Demand for housing has remained high. At the end of the period, there were 20,881 (20,882) active applications (applications are active for three months). The average number of active applications per rental agreement termination was 22.3 (24.7). The number of new rental housing applications received during the review period was 35,695 (36,382).

According to the latest survey, the average period of tenancy was 5.9 (5.8) years. Long customer relationships are based on systematic apartment maintenance, a versatile range of residents' benefits, and active resident activities.

VVO Customer Service Centre began operations in the Helsinki Metropolitan Area in April and expanded to a nationwide service on 10 June 2014. The Centre serves both current and new customers. Customers are also served by the 11 VVO Home Centres across Finland.

VVO's latest tenant survey indicates that our customers are satisfied with the standards of customer service they receive. All new tenants who moved to their apartments during January-February 2014 participated in the survey and the number of respondents was 536. According to the results of the new tenant survey, the electronic rental agreement process had a very positive response. Based on the survey, almost all respondents (94%) give excellent or good marks for making rental agreements electronically. Almost all the new tenants who responded gave excellent or good marks for customer service, applying for apartments and apartment viewing.

During the review period, VVO tendered out the provision of broadband and television services to its customers and made co-operation agreements with DNA and Elisa. In future, a 10 MB broadband connection included in rent is available in nearly all VVO apartments, as the agreements cover approximately 38,500 households. The agreements will enter into force on 1 January 2015 and continue up to the end of 2019.

Regional VVO days, which take place biannually, were organised this spring. There were a total of eight events and approximately 650 active tenants took part.