In October 2026, the Finnish Real Estate Management Federation (Isännöintiliitto) floated a proposal that got many homebuyers thinking: housing companies should be given the right to forcibly redeem shares if a shareholder permanently stops paying maintenance fees. The proposal isn’t law yet, but it points to something real. Payment difficulties in housing companies are a growing problem, and it doesn’t stay just one shareholder’s issue.
If you buy an apartment in a housing company with unpaid maintenance fees, you’re also buying into that problem.
Why one shareholder can derail an entire housing company’s finances
A housing company works by having every shareholder pay their maintenance fee, and together these payments cover the company’s costs. When one shareholder stops paying, the others have to cover the shortfall. Not immediately, and not visibly, but it happens.
According to the Real Estate Management Federation, inquiries about these situations have increased. The reasons vary: bankruptcy, an unsettled estate, or a situation where a fee-free apartment has been transferred to someone with no intention of paying at all. The Federation’s legal expert Sara Rintamo describes how suspicion arises in straw-man arrangements: the new owner doesn’t register the ownership transfer and immediately stops paying maintenance fees. In that case, the housing company essentially has no one to collect from.
According to the Real Estate Management Federation, current measures such as debt collection or taking control of the apartment aren’t always enough. That’s why forced redemption has come up as a last-resort option.
What a housing company’s payment difficulties mean for homebuyers
It means higher maintenance fees in the short or long term. It means possible delays to renovation projects if the company lacks funds. In the worst case, it means the housing company itself ends up in financial trouble.
The Liikemaneesi building in Lappajärvi is an example of where unpaid maintenance fees can lead: the housing company went bankrupt. Commercial spaces are especially risky, since vacant commercial units may have no one paying for them.
So the threat of forced redemption isn’t just an abstract legal question. It’s a signal that in some housing companies, the situation is already so bad that current legislation isn’t enough to resolve it.
What to check before deciding to buy
From OUN®’s perspective, this is exactly the point where a buyer either protects themselves or doesn’t. Most buyers look at the surface renovations and the price per square meter. Few ask for the housing company’s financial statements and actually read them properly.
Before making a purchase, it’s worth finding out at least the following:
- Overdue maintenance fees: Has the apartment being sold had any unpaid maintenance fees? This shows up in the property manager’s certificate.
- The housing company’s receivables from shareholders: The financial statements show whether the housing company has outstanding receivables from its shareholders. If the amount is significant relative to the company’s budget, someone isn’t paying.
- Pressure on the maintenance fee: Has the fee been raised unusually sharply recently? An increase can signal patching up finances rather than a planned investment.
- The state of commercial spaces: Does the housing company have commercial units? Are they vacant? A vacant commercial space can, at worst, mean a fee-free square meter whose costs are spread onto everyone else.
- Board meeting minutes: The minutes may reveal references to payment difficulties, collection actions, or takeovers of apartments before the problem shows up in any official figures.
The forced redemption proposal points to a bigger picture
The Real Estate Management Federation’s proposal didn’t come out of nowhere. It shows that existing measures aren’t enough and that problem cases have become common enough to wake up the industry. The Housing Companies Act has already been extensively updated – the reform took effect on 1 October 2026 – but forced redemption isn’t part of it yet.
For buyers, this means the topic is highly relevant right now. Legislation is evolving, housing companies’ financial situations vary significantly, and the risk isn’t always visible.
Buyer protection starts with information
You can’t protect yourself from what you don’t look at. A housing company’s financial condition isn’t something to leave to a quick glance at the surface. The property manager’s certificate, financial statements, and meeting minutes are public documents that buyers have the right to review before a purchase.
OUN®’s job is to help buyers read these documents – and to tell you straight if something doesn’t look good. We don’t take commissions from sellers or agents. The only side we’re on is the buyer’s.
If you’re unsure whether the housing company you’re buying into is financially sound, request an analysis before you make your decision.
Worried about the housing company’s finances?
In a housing company, financial problems usually don’t appear overnight. They build up gradually, which also means they can be spotted in time.
OUN® reviews the company’s documents for you and delivers a plain-language analysis within 24 hours. We’re 100% on your side – we don’t sell apartments to anyone.
