Why are Hoas rents increasing — again?
Rents at Hoas will increase in 2026. The average increase is 2.7 percent, but the change for an individual unit may be smaller or larger. The largest individual increase is 5.5 percent.
Parking fees will also change: starting in 2026, the monthly fee for outdoor parking spaces with or without heating poles will increase by 3 euros, and garage or indoor parking spaces by 5 euros.
Tenants have received a rent adjustment letter and their rent invoice for 2026, where the apartment-specific changes are detailed. This information is also available in MyHoas.
Why are the rents increasing?
The rent increases are due to rising maintenance and operational costs over several consecutive years.
The pandemic caused supply chain disruptions and labor shortages, which raised repair and construction costs. When restrictions were lifted, demand returned quickly and prices surged even more. At the same time, Russia’s invasion of Ukraine led to higher electricity prices, further increasing property maintenance costs.
Hoas reviews rents once a year based on the calendar year. This means we can’t adjust rents mid-year in response to rapid cost changes, and therefore increases appear with a delay in the following years.
Why are rents still going up even though general prices aren’t?
In recent years, we intentionally kept annual rent increases moderate to limit the financial impact on tenants. As a result, the need for increases has been spread across multiple years. Rents will continue to rise in 2026, even though overall cost inflation has slowed.
In 2023, Hoas rents increased by an average of 2.9 %, in 2024 by 3.3 %, and in 2025 by 3.8 %. In 2026, the average increase is 2.7 %.
Although cost increases have slowed, rents typically go up each year as part of the annual rent adjustments.
Why are other housing providers increasing rents less?
Many other landlords operating on a cost price basis are increasing rents less in 2026 because they applied larger increases earlier. Example in the picture below.
Between 2023 and 2026, average rent increases have cumulatively amounted to 13.3 % at Hoas, 20.9 % at Heka, and 15.2 % at Espoon Asunnot. The cumulative change reflects the actual total rise in rents, as each year’s increase is calculated based on the previous year’s rent level.
Heka and Espoon Asunnot are relevant comparisons because, like Hoas, they operate on a cost price basis, do not aim for profit, and are located in the Helsinki metropolitan area.
What does “cost price” mean for a housing provider?
A landlord operating on a cost price basis sets rent according to actual expenses, including property maintenance, repairs, construction, and administration.
In practice, this means the rent is usually lower than market-level rents. For example, Hoas rents are approximately 30 % cheaper than the market average.
What do rents cover?
Rent income covers all costs of Hoas operations. The majority of expenses relate to maintaining properties, such as heating, electricity, water, and waste management.
Rents also cover building repairs and upkeep to ensure the apartments remain safe and pleasant. Some of the income is used for financing costs. Administrative costs, including staff and other essential operational expenses, are also covered by rent.
Why aren’t private landlords raising rents?
Private landlords don’t follow the cost price model. They can charge rents that exceed actual costs to make a profit.
When market conditions change, this profit margin can be used to offset rising costs — meaning cost increases don’t always translate into rent hikes. If market rents fall, a private landlord might lower rents to stay competitive, accepting smaller profits.
Hoas cannot do this. We do not aim for profit and receive no income other than rent from apartments. That’s why rising costs directly affect rent levels.
Affordable housing for students
Hoas’s mission is to improve the housing situation for students in the Helsinki metropolitan area by building, acquiring, and maintaining rental apartments.
As a public-benefit, non-profit foundation, we aim to keep rents as low as economically possible while ensuring proper property maintenance and covering essential operational costs.
Our goal is to ensure students continue to have safe, well-maintained, and affordable homes in the Helsinki region.