One-bedroom flat in Lahti, Lahti

Why I’m selling

Let’s be honest: I’m not selling this flat because there’s anything wrong with it. I’m selling because I’ve settled permanently in Bangkok and my life there takes all my time.

When the previous tenant moved out, there were plenty of new applicants straight away. But from Bangkok I can no longer easily handle the flat’s matters in person. The flat is fine — on the contrary. I just no longer have time to own it.

The apartment and the situation

This is a 45.5 m² two-room flat (1 bedroom + kitchenette) on the second floor of a block with a lift in Tonttila, Lahti. The flat is currently empty and available immediately. The housing company is As. Oy Riihitarhankulma, and I explain here exactly why it is one of Tonttila’s best housing companies for investors.

Why this housing company stands out for investors

When you buy an apartment from the 1970s, the most important thing is not the flat itself but the condition and finances of the housing company. They decide whether the new owner will face tens of thousands of euros in renovation bills as capital charges or not. The two most expensive works are the piping renovation and the facade, and in this company both have already been done:

- Full pipe renovation including bathrooms 2019

- Façade works 2012 (windows, balcony doors and added thermal insulation)

- Roof fully renewed 2023

Note the pipe renovation. This was a proper, full-scale piping renovation where water and sewer lines were completely renewed and bathrooms were renovated at the same time. Many companies only do pipe relining, which is a cheaper temporary fix. Here it was done properly, meaning pipes and bathrooms will be sound for decades and the next owner won’t need a bathroom renovation.

Comparable Tonttila companies of the same era typically still face these major structural renovations, and the cost will fall on the future buyer. The big expense has already been spent here, so you won’t have to pay for it.

In practice, you are not buying near-term renovation debt. A façade typically lasts 30–40 years and a pipe renovation 40–50 years, so the next major work will be in roughly 15–20 years, and for the pipes not until the 2060s.

Also one often-overlooked but important point: the housing company owns its plot. This is not a leasehold plot. On leasehold plots the ground rent can be multiplied when the lease is renewed, and that kind of surprise cost can ruin the investment yield. That risk is not present here.

Energy rating C, and what it shows

During the 2019 pipe renovation the building was fitted with ground-source heat with heat recovery. As a result the housing company’s energy rating is C (E-number 121), which is a good result for a building of this age. The effect is clear numerically: before the ground-source heat the building was rated E (E-number 192). Ground-source heat lowered the number from 192 to 121, roughly a third. Practical consequence for the owner: low and stable heating costs, which show directly in the charge level.

The charge has fallen and remained stable for five years

In most 1970s companies the maintenance charge rises year after year. In this company the opposite has happened. The maintenance charge was €4.25/m² in 2020 and has been €3.50/m² since autumn 2021. The maintenance charge has stayed the same for almost five years. The fall is largely due to the ground-source heating. For an investor a stable or falling charge is an advantage, because it means predictable costs.

The company’s finances are on a healthy footing

The housing company has an operating surplus, the audit is clean, and the debt level is modest (about €465/m²). You are not buying a problem company with unstable finances but a well-managed company with a buffer and proper accounts.

Condition and equipment of the flat

The flat itself is tidy and ready to rent.

- Bathroom renewed during the company’s pipe renovation in 2019, washing machine connections

- Kitchen upgraded, dishwasher installed

- Laminate flooring in the living room and bedroom, neat wallpaper on some walls

Rental demand

When I advertised the flat for rent it has so far received about 18 enquiries from prospective tenants (updated 17/07/2026). The rent has been €560/month. Tonttila has steady rental demand: the area is quiet, services are nearby, the Karisma shopping centre is a short drive away, and connections to Lahti city centre and the railway station are good.

Monthly costs and yield

The monthly housing charge is a total of €345.80: maintenance charge €159.25 (€3.50/m²) and capital charge €186.55 (€4.10/m²). With a rent of €560/month the property produces positive cash flow of about €214/month before taxes from day one.

One detail many overlook: the capital charge is not wasted money. It pays down the company’s loan for the piping and bathroom renovation, so it builds your equity each month. At current interest levels only about €58 of that €186.55 is interest (real cost), and the remaining ~€129 reduces the debt directly in your favour.

One more important advantage for an investor: in the company’s latest financial statements capital charges are accounted as income. In practice this means the capital charge is tax-deductible from rental income, which improves your after-tax yield.

The housing company also has a separate covered carport and outdoor parking spaces, some of which have electric vehicle chargers installed.

Documents and next step

All essential documents are available: manager’s certificate, energy certificate, the latest financial statements and budget, the articles of association and the maintenance needs report. I encourage you to review them, because the numbers in this listing stand up to scrutiny.