Rents and the lease agreement
The LOAS Housing Office will advise and guide you in all matters relating to tenancy and applying for housing. Please find out about the aid schemes for students before applying. You can find answers to frequently asked questions on the website of the Social Insurance Institution of Finland (Kela). You can also contact the people responsible for student aid issues at your educational institute.
Rents for student accommodation consist of:
- a fee determined on the basis of the size of the apartment (square metres)
- a fee determined on the basis of the number of rooms in use (includes electricity and use of the laundry room and sauna)
- a furniture fee charged from tenants living in shared apartments.
An additional fee is charged for parking spaces. The due date for rent is always the 5th day of each month. The notice period for a lease agreement is one calendar month in accordance with the Act on Residential Leases. Read more about the current rents and the terms and conditions .
The rents per square metre are the highest for studio apartments and lowest for three-room shared apartments. The rents for family apartments are slightly lower than the total rents for shared apartments of similar size. The rents are determined site-specifically on the basis of the building’s age, location, condition, etc. According to our operating principle, all LOAS rents are determined based on the cost price and taking account the renovation investments required to keep the buildings in good condition.
For fixed-period lease agreements, the rent is 15–25 per cent higher, depending on the length of the lease. Typically, for lease agreements of less than six months, the rent is increased by 20 per cent. The reason for this is that fixed-period leases reduce the occupancy rate of the apartment.
Reservation fee and deposit
All applicants are required to pay a reservation fee prior to signing the lease agreement. Once you’ve signed the lease agreement with LOAS, the reservation fee turns into a deposit. LOAS will return the deposit to the tenant within two months of the termination of the lease agreement. The deposit will be returned to the account specified by the tenant if the tenant has returned the keys to the apartment, if the apartment is clean and in normal condition when the tenant moves out, and if the tenant has fulfilled all obligations relating to housing including rent and other payments. LOAS may use, without hearing the tenant, some or all of the deposit to cover any such unfulfilled obligations.
We will not return the reservation fee if you decide not to sign a lease agreement. We’ll send the details for the payment of the reservation fee with the housing offer.
The separate fees included in the rent that ARE TAKEN INTO ACCOUNT in the study grant housing supplement are
- electricity fees, fees charged for using a sauna or a laundry room, and furniture fees.
The separate fees included in the rent that ARE NOT TAKEN INTO ACCOUNT in the general housing allowance are
- electricity fees, fees charged for using a sauna or a laundry room, furniture fees, and parking space fees.
The lease agreement is prepared by the LOAS Housing Office. The housing offer includes an invitation for you to come to our Office to sign the lease agreement as well as details for the payment of the reservation fee. By paying the reservation fee, you confirm that you want to accept the offer. LOAS won’t then offer the apartment to other applicants. Once you’ve signed the lease agreement, the reservation fee turns into a deposit. The deposit will be returned to you after the termination of the lease agreement, provided that the you have fulfilled all your obligations towards LOAS.
Please, take the acceptance letter from your educational establishment and a receipt of the paid reservation fee with you when you come to sign your lease agreement. The obligation to pay rent starts on the lease start date indicated in the lease agreement. The lease agreement can only be terminated by following the established termination procedure. The period of notice for tenants is one calendar month. If you are unable to personally come and sign the lease agreement by the given deadline, you should contact the Housing Office to set another date.
Cover your belongings with a home insurance policy
All LOAS buildings have property insurance that covers damages to the building (e.g. due to a pipe rupture). The property insurance does not cover damages to tenants’ personal property.
If the damage caused to the building or other LOAS property is attributable to a tenant, LOAS will charge to that tenant the damages caused or the excess of the LOAS’ insurance, which for property insurances amount to 1,000 euros.
To protect your personal property, you should take out a personal home insurance policy that covers damages caused to your belongings. A personal home insurance policy is an inexpensive way to protect your belongings, and its excess is typically very small. For further information about the terms and conditions of home insurance policies, visit the website of your insurance company.