All the significant financial decisions are required to be made in the general meeting.

The housing company’s day to day finances are managed by the Board of Directors, the property manager, and the auditor. Funding is based on the monthly charge for common expenses collected from shareholders. If a major renovation is financed with a loan, an additional charge for loan repayment is collected. A housing company is not intended to make a profit. If a shareholder fails to pay their charges, the company may send a payment reminder, pursue the debt through legal means, or take possession of the apartment.

In Finland, a housing company can take possession of an apartment for up to three years in specific cases defined by law. These include unpaid charges for common expenses, severe neglect or misuse of the apartment, use contrary to its intended purpose, disturbing behavior, or repeated violations of housing rules. Minor violations do not justify possession.

Before taking possession, the board must issue a written warning to the shareholder and resident. The decision to take an apartment into possession is made by the General Meeting of the housing company.

Once possession begins, the apartment must be rented out promptly at a fair price. If the issue was not caused by the resident, the housing company should primarily offer the lease to them.