Termination of the contract and moving out
During the three-month notice period, there are many steps to go through.
Things to keep in mind when terminating your contract
The rights and obligations of the holder of the right of occupancy remain in place during the notice period.
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1The notice period is three months
Right-of-occupancy apartments have three (3) months’ notice under the Right-of-occupancy Act and the right-of-occupancy agreement. The notice period begins on the day on which the notice of termination has been received by the management agency. Notifications received on weekends and holidays will be processed on the next business day.
The tenant that terminates the agreement is responsible for the fees related to the apartment for three months from the date of termination. For example, the remaining fees, such as water fees, must be paid before the right-of-occupancy fee can be refunded.
The purpose of the notice period is to safeguard the ability of both parties to the agreement to take care of matters related to the situation for their part. The three-month period also gives the future holder of the right of occupancy time to make their own housing arrangements.
The holder of the right of occupancy does not have to handle selling of the right of occupancy as Haso does that on their behalf.
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2Notice of termination and delivery of alteration receipts
The termination can be carried out either by using the electronic termination form found on the resident website or by using a paper form. If there are several holders of the right of occupancy, signatures are required from all of them.
No later than in connection with the termination, the holder of the right of occupancy must also provide Haso with receipts for any alterations done in good faith and that can be reimbursed on request, if they want to reimbursed for them. For more information, see “Apartment alterations”. (Information in Finnish only.)
Information required for termination:
1. House address and apartment number.
2. Date on which the apartment will become vacant.
3. Contact details (name, address, telephone number and e-mail address) of the apartment holder and contact person (if different from the apartment holder)
4. An explanation of any alterations done.
5. Receipts for completed alterations. PLEASE NOTE: Receipts should always be delivered to property management immediately after the alteration is completed.
6. Account number to which any residual value of the alterations, the security, index-based increases, deposits, etc. are returned. The return of these fees requires a home inspection time to be booked from the technical building manager.
7. Parking space, if the redundant has a parking space from Haso.The form below can also be downloaded and sent, completed and signed, through Secure Mail to apartment sales.
Download the termination form here in pdf format.
(The form is only available in Finnish)
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3Returning the right-of-occupancy agreement
The original right-of-occupancy agreement must be returned to the management agency within the notice period.
What to do if the contract is lost?
The original right-of-occupancy agreement is an important document. Without the return of the original right-of-occupancy agreement, Haso cannot return the right-of-occupancy fee in the event of termination. However, if the agreement has been lost, it shall be cancelled by the district court.More information on the matter can be found on the website of the Judiciary.
What to do if the agreement is pledged?
If the original agreement is used as a collateral for a bank loan, Haso will, on the basis of the information in the pledge certificate, contact the bank and request the bank’s settlement account information for a refund. In these situations, the right-of-occupancy fee is returned to the bank’s settlement account, not directly to the right-of-occupancy holder. -
4Apartment showcase
Haso has the right to arrange a showcase of the apartment during the notice period. A suitable showcase time is always sought primarily with the resident moving out.
During the offer period, the apartment is usually presented by the resident. The property maintenance agency can also showcase the apartment if the tenant does not want to handle the responsibility.
Often, the first bidding round and showcases of a soon-to-be vacant apartment will begin soon after the termination in order to find new residents for the apartment as soon as possible.
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5Moving out inspection and cleaning
The property management agency will contact the outgoing resident and agree on the time of the apartment inspections. The resident may be present at both inspections.
The moving out inspection is a two-step process:
1. Apartment inspection
For the first time, the apartment is inspected during the notice period to identify renovation needs, among other things.2. Final inspection of the apartment
The apartment is inspected a second time when it is empty and cleaned, no later than on the working day following the end of responsibilities. In the inspection, normal wear and tear due to living and the age of the apartment are taken into account.However, if negligence or defects are found in the condition or equipment of the apartment that are not due to normal age-appropriate wear and tear and require additional maintenance or cleaning work, all costs will be charged to the leaving right holder in accordance with the price list for damages.
Equipment of the apartment required in the final inspection
1. All fixtures, partition doors and sliding doors are installed in their original locations.
2. Possible telecommunications and antenna cables provided with the apartment are in place. They must be left in the apartment.
3. Ceiling light sockets must be in their original condition and installed in the ceiling. Installation may only be performed by a qualified electrician.
4. Ceiling lights have been removed.
5. The window key and the developer’s home folder with instructions for use of household appliances is in the apartment. These must also be left in the apartment.
6. A dishwasher installed as an alteration will be left in the apartment if it is less than five years old. Older dishwashers must be removed and its connections plugged to avoid water damage.
7. The washing machine must also be removed, the water connections closed, and the discharge pipe plugged.Move-out cleaning
The move-out cleaning of the apartment must be carried out before handing over the keys. The apartment must be tidy, meaning that surfaces and spaces – including storage spaces – have been properly cleaned so that the next occupant can take over the apartment and storage spaces without having to clean.If the move-out cleaning has not been properly carried out, a move-out cleaning is ordered from a cleaning contractor and all costs are charged to the leaving right holder according to the price list.
The checklist for a move-out cleaning can be found in the “Move-out cleaning” section of the Home Guide.
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6Key handover
Return all original keys to the apartment, as well as any additional keys made, including any security lock keys, to the key store responsible for key management on behalf of Haso. Also, return the laundry’s reservation lock, parking space keys and garage keys to the key store.
The keys to the apartment must be handed over no later than 12 noon on the working day following the termination of the liabilities.
If any original keys are missing, please report them at the time of termination and at the latest at the apartment inspection. In such a case, for safety reasons, the lock(s) must be re-sequenced, the cost of which is borne by the tenant.
Contact details of the key management company can be found on the Client Servic page in the section “Picking up and returning keys”.
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7Refund of right-of-occupancy fee, transfer price
The original right-of-occupancy fee will be returned after the notice period has passed. The right-of-occupancy fee is adjusted with the construction cost index. The right-of-occupancy holder always receives at least the original right-of-occupancy fee as a refund. (See “More information” below.)
In addition, the residual value of any alterations is added to the right-of-occupancy fee. This forms the so-called transfer price. We will send an accurate calculation of the transfer price to the outgoing resident as we process the termination.
Information on the original price and the original index can be found in the document provided to each tenant in connection with the right-of-occupancy agreement.
More information
How is the current value of the right-of-occupancy fee determined?
An indicative estimate of the current value can also be checked from the right-of-occupancy fee calculator, which considers the increase in the building cost index.
You can also calculate an estimate of the current value of your right-of-occupancy payment yourself.
For the estimate, you need:
1) the original fee
2) index of the first payment date, i.e. the original fee payment date, and
3) today’s index.
Estimate of the current right-of-occupancy fee is calculated using the formula:
Original price of the apartment
/
index of the first payment date mentioned above
X
today’s index
= current fee
The index can be checked from the chart by Statistics Finland.
PLEASE NOTE: The index of the previous month is always used in the calculation, for example, the index in use as of January 15, 2024 is the December 2023 index in the chart.
If the price is in marks, the rate used is €1 = FIM 5.94573
Example calculation:
- The initial right-of-occupancy fee paid by the first tenant of the apartment is €15,000.
- The original right-of-occupancy payment (€15,000) was paid at the end of March 1994, when the construction cost index was 101.60.
- The apartment will be vacated at the end of January 2023, when the construction cost index was 188.10
- Current right-of-occupancy fee = €15,000 /101.60 X 188.10 = €27,770.67
It is good to remember that the final right-of-occupancy fee is determined by the index on the day of termination. The payment also takes into account the compensation for any additional and alteration work carried out in the apartment.
The price estimate is also available through the property management agency’s customer service. Placing an order for an estimate costs 50 euros. The price estimate will be provided within two weeks or quicker if all the necessary documents, such as alteration receipts, have already been delivered to the property management agency.
The sum of the right-of-occupancy fee is calculated in connection with a termination without a separate request if the apartment has already been terminated or the apartment is being swapped with another right-of-occupancy holder.