We will still keep our rent increases moderate – the increase in the coming year will be 2.5% on average5.11.2023
We will increase the rents of TOAS apartments by an average of 2.5 % in 2024. The increases will vary between 0–3.4 % in different locations. Increases in rent remain moderate compared to overall price increases in Finland, which have been about six per cent over the last 12 months.
Facility usage fees and parking fees will also increase. The facility usage fee increases by 3 euros in studios and 5 euros in family apartments. The new usage fees are 23 e/month and 35 e/month. Parking fees will increase for tenants by 2–5 e and for others by 10 e. For example, a regular parking space for a tenant will be 12 e in the future and 20 e in the city center or in Kaleva. The last time the facility usage fees and parking fees were increased was in 2012.
There will be a change in invoicing water usage by measuring the amount of water used in four locations: Kauppi, Pappila, Janka and Männikkö. In addition to the general increase in rents, a water fee will be charged based on the usage in these locations. The estimated water fee will be reduced from rent. For those living in shared apartments, there will be a monthly water fee of 15 euros because in shared apartments it is not possible to follow the usage per tenant.
Next year, we are prepared to have the biggest tariff increases in electricity, heating and property tax. We want to keep the rent levels of student housing reasonable – this way, we will not only be able to respond to competition from rental operators, but also provide students with comfortable living conditions. And we believe that we have succeeded quite well: over the last ten years, the average annual increase of TOAS rents has been 1.2%.
TOAS’ financial situation has also remained stable in the long term. This is based on long-term financial planning, which has succeeded regardless of large investments. In the near future, the levels of inflation and rising interest rates are causing the most uncertainty.
If you feel that your current apartment is too expensive, please remember that everyone is able to influence their rent. We offer a large selection of apartments at different prices. The cheapest small apartments with shared kitchens only cost EUR 150/month, while, at the other end of the price range, there are studio apartments in the city centre that go for EUR 600/month.
According to Statistics Finland’s statistics, TOAS rents are still approximately 27% cheaper than in the free market in Tampere. The comparable average rent per square metre at TOAS will be EUR 13.1/m2/month at the beginning of next year, with prices ranging between 9.2–19.9.
Nearly half of TOAS’ costs comprise financial costs, meaning loan repayments and interest. The amount of loans will keep growing during this intense season of new construction. However, an increase in loans is a good thing for students, as it will lead to significantly more high-quality housing. The intense pace of new constructing in TOAS greatly differs from the general situation of construction in Finland at the moment.
Key figures from our budget:
- Income EUR 46.2M
- Maintenance costs EUR 24.7M (repairs 5.0, heating 3.8, electricity 2.7)
- Financing costs EUR 18.9M
- Surplus EUR 2.6M (for investment)
A new rental invoice will be sent for the tenants with the notice on increase in rent. It will only be used from 1 January 2024. For those who have made an e-invoicing agreement, a new invoice will be sent monthly to their online bank. A contract specific reference number has to be used when paying the invoice.
You can find your own rental payment information on myTOAS, where you can also check your payment status.
TOAS will inform Kela directly about the changes on rent. Read more about housing allowance on Kela’s website.