VAV Asunnot Oy
VAV Asunnot Oy is a company wholly owned by the City of Vantaa which builds and owns rental apartments in Vantaa. The company administers, manages and markets the apartments it owns.
VAV Asunnot started operations in 1986. The foundation of the company brought all the city’s wholly owned rented property companies together into a single unit. Since 1990 VAV has itself built the new apartments which it will then own. The company’s apartments are funded by ARAVA and interest-subsidy loans. VAV owns apartment blocks, low-rise apartment buildings, terraces and balcony-access blocks.
VAV Asunnot’s main task is to provide high quality homes for the people of Vantaa at a reasonable price. The company’s aim is to ensure that rents remain fair and at a reasonable level irrespective of fluctuations in the economy. Within VAV Asunnot Oy the capital costs of the various properties are evened out. Planned maintenance of the properties seeks to ensure that they retain their value. VAV Asunnot works with residents to make its apartments pleasant places in which to live.
In 2012 VAV Asunnot owns approximately 10,000 rental apartments and has approximately 20,000 tenants. One in ten people in Vantaa live in a home owned by VAV.