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Budgeting for Rent in the Private Sector


Rent an apartment in Finland


In Finland, the majority of residents reside in rental apartments. For foreigners relocating to Finland, straightforward assistance may be necessary to locate and secure their initial unfurnished rental accommodation. While certain advantages exist for students or foreigners eligible for social benefits who can access government-provided housing, others may need to explore alternatives and seek apartments in the private sector, predominantly owned by private individuals and companies.


Monthly rent and house equipments

The typical price range for a one-room apartment is between 600€-1500€, depending on the location. The standard size of these apartments usually ranges from 24m2-56m2. A studio apartment typically includes a living room, kitchen, bedroom, and a separate bathroom, making it suitable for one or two people. The apartment usually has essential appliances like a stove, oven, fridge, and stove hood. Sometimes, a microwave and a dishwasher may also be available. These appliances are fixed amenities included with the rent and are not to be taken or altered during the rental period. 


If the apartments do not have washing machines, tenants can purchase their own or use the laundry room provided by the building. While fixed lights are already available in the toilet and kitchen, tenants must purchase lighting fixtures for the living room or bedroom."


Water Bill and consumption

Water costs are not typically included in the rent, and tenants must pay an additional fee of approximately 20€ per person monthly for water usage. If more than one person lives in the apartment, the extra cost is also 20 euros per person per month, with adjustments made at the end of the year based on water meter readings. A representative from the building will visit the apartment to take the water meter readings. The landlord will then receive the bill and pass it on to the tenant at the end of the year.


Home insurance and Electricity cost

Depending on the coverage, tenants must purchase home insurance, typically 130-300 euros annually. Additionally, tenants obtain electricity from a local provider, usually named after the city where they reside, such as "Vantaan Energia" for those living in Vantaa. The average electricity bill for a resident living in a studio apartment in a building is around 25€ per month. This amount is based on an estimated consumption of 220 kilowatt-hours for electronics, cooking, and laundry. Electricity prices have significantly increased compared to the past, and their pricing has become more unpredictable.


Rental Guarantee and length of agreement

Tenants are required to provide the landlord with a rental guarantee equivalent to one or two months' rent. The landlord stores the rental guarantee until the end of the rental agreement and gives it back to the tenant after the tenant has cleaned the property and the landlord has inspected the property. 


It's essential to remember that when renting an apartment in Finland's private sector, you'll need to budget for more than just the monthly rent. In addition to rent, furniture, and utilities, the tenant will generally be responsible for covering the cost of water and a rent guarantee, which can add up to around 1800€ in the first month before moving in. 


As we come to the end of our article, it is worth emphasizing the importance of planning when moving to Finland. Allocating a budget of over 2000€ for the first month's rent is advisable to ensure a comfortable start in your new home. By doing so, you can avoid potential setbacks and focus entirely on settling into your new environment.

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