The rents of the apartments of Turku Student Village Foundation (TYS) will be revised on the basis of the Act on Residential Leases, section 3, paragraph 32, as of 1st January 2025.
Apartment rents will be increased by 1 to 2 percent, depending on the housing location and apartment type. In addition, the rents of some housing locations will be harmonised for some apartment types in a manner that may decrease the rent, or the rent may increase more than the average increase.
The previous rent revision took place in 2023.
Affordable housing for students
The rents of TYS apartments have been defined on the cost principle basis in accordance with ARA’s guidelines and regulations. This means that TYS is a non-profit operation. According to the cost principle, rent collected from tenants for dwellings may not exceed the amount required for rental operations, property maintenance, and repair and new construction, in addition to other revenue. In practice, this means that TYS rents are, on average, approximately 15 to 20 percent more affordable than other similar apartments.
Rents for parking spaces, storage spaces, furniture fees and other utility costs will remain unchanged. Sauna shifts remain a service included in the rent. The use of the laundries will be charged separately, and the laundry charges will remain the same as in 2024. No changes will be made to the contract fee either, meaning that all new leases will be charged 60 euros.
In accordance with the Act on Joint Management of Rental Buildings, tenant committees have also been given an opportunity to submit their opinion on the budget.
On 28th October 2024, the board of Turku Student Village Foundation adopted the 2025 budget based on revised rents and utility fees.
Tenants to be notified via email about the rent review
All tenants have been sent a rent revision notice via email. Rental invoices with the new rents will be sent to the tenants in December.
The reference number for rental payments will remain unchanged. If you are using recurring online payments to pay your rent, please ensure that you update them with the new amount in your online bank before the January rent is due on 6th January 2025.
If you are using e-invoicing, the new amount will update automatically in your online bank.
Changes to housing allowance
Kela receives your rental details directly from TYS. As per Kela’s guidelines, as a rule, any increase in monthly rent less than 50 euros does not affect the amount of housing allowance if there are no other changes in the situation. If you have questions about matters related to housing allowance, please contact Kela directly.
