Frequently asked questions about applying for a rental home
What does asset limit mean?
In rental homes with asset limits, the selection of residents is based on assets, income and a needs assessment. Those with an urgent need for a home and who have the smallest assets and the lowest income are given priority.
Assets include, for example, real estate or an apartment owned by the applicant(s) as well as savings. The asset limit depends on the locality and the size of the applicant household.
If you are applying for a rental home to which an asset limit is applied, you must provide a statement on your need for a home and your assets. Assets are taken to encompass the applicant’s assets at the time of application.
What does income limit mean?
If a rental home has income limits, it means that the selection of residents is based on the income of the applicant(s). The applicant’s assets or need for a home are not taken into account in these homes.
In practice, this means a maximum limit for your monthly income, defined by ARA, which you cannot exceed. In this context, income encompasses earned income and income from capital, including wages and wage supplements, pension and any rental and dividend income. If you are applying for a rental home to which an asset limit is applied, you must provide a statement on your income.
Must I pay a security deposit?
Yes. The security deposit is equivalent to a month’s rent and it must be paid before you retrieve the keys.
What kind of rental agreements does Asuntosäätiö conclude?
We mainly conclude rental agreements valid until further notice.
Is smoking allowed in Asuntosäätiö apartments?
Smoking is not allowed in the apartments nor on the balconies and terraces under contracts signed on or after 1 January 2021. All our newest buildings are completely smoke-free. In smoke-free buildings, smoking is only allowed in designated smoking areas.