Housing Maintenance Fund
Félagsbústaðir collects monthly housing maintenance fees to cover the common costs associated with living in an apartment building, cf. Act on Multi-Family Housing No. 26/1994 and the Rental Act No. 36/1994.
Félagsbústaðir owns both individual apartments and entire apartment buildings. Housing associations, where Félagsbústaðir owns individual flats, send Félagsbústaðir an invoice monthly and the fees are decided by the Board of the housing associations. Housing maintenance fees are divided proportionally, equally between all residents of the apartment building based on the property division agreement. Housing maintenance fees in apartment buildings that are exclusively owned by Félagsbústaðir are determined with regard to the operating costs of the past year.
Housing maintenance fees for apartment buildings vary from house to house depending on what is included within them. What is often included in the housing maintenance fee is heating; electricity; care of the garden, e.g. mowing and snow removal; garbage collection; and recycling. Sometimes cleaning is purchased as part of the housing maintenance fee, but otherwise the residents share the responsibility of cleaning the common areas. This is considered general management of the common area and the tenant must pay according to Article 23 of the Rental Act No. 36/1994.