Rental housing

The financial occupancy rate is at an excellent level, and stood at 98.1 (98.4) per cent during the review period. During the review period, 550 (138) privately-financed rental apartments were completed for VVO in Helsinki, Espoo and Vantaa.

At period end, 462 (249) apartments were vacant due to renovations. Overall turnover was 19.8 (19.5) per cent. Turnover excluding internal exchanges was 16.3 (16.1) per cent. The average rent per square metre in apartments where rent can be freely determined (Lumo apartments) – a total of 26,493 (24,539) apartments – was EUR 13.27 (12.83) at the end of the period and EUR 13.12 (12.65) for the full period. The corresponding figures for apartments leased at a cost-price rent (the Cost principle group) – a total of 14,175 (15,723) apartments – were EUR 12.45 (12.03) at the end of the period and EUR 12.37 (11.96) on average during the period.

Demand for apartments has remained high. At the end of the period, there were 22,133 (23,140) active applications. (Applications are active for 3 months.) The average number of active applications per rental agreement termination was 23.7 (25.4). The number of new rental housing applications received during the review period was 54,752 (56,747).

According to the latest calculation, the average period of tenancy in the same apartment is 5.8 years. Long customer relationships are based on systematic apartment maintenance, lively resident activities, and a versatile range of residents' benefits.

According to our latest customer satisfaction survey, our tenants are satisfied: 92 (92) per cent of our tenants have already recommended, or would be ready to recommend, VVO as a landlord.

With the introduction of Lumo, the VVO Group now has two rental housing brands. Lumo is a market-led rental concept that offers next-generation services for rental housing and gives tenants even greater freedom of choice. VVO-brand apartments are state-subsidised developments, and are therefore cost principle rentals.

Over 60 per cent of our tenants have signed an online rental agreement. The use of e-signatures has increased steadily throughout the country. About 1,000 rental agreements are made every month.

The vvo.fi website has been revamped. The focus has been on making it easier to browse for apartments and fill out a rental application. Applications can now also be filled out on more devices, such as mobile phones and tablets.

Nationwide tenant events were organised at Linnanmäki amusement park in Helsinki and Särkänniemi amusement park in Tampere. The Northern Finland VVO Home Centre arranged a tenants' outing to the Ranua Wildlife Park. A total of about 12,000 people took part in these events.