Renovations and repairs

The purpose of VAV’s renovations and repairs is to maintain the value of VAV’s properties through repair and maintenance work, which targets the buildings’ structures, technical systems and courtyards, and which is timed so that it can be carried out as cost-effectively and with as little disturbance as possible.

Planning for renovations and repairs relies upon long-term maintenance plans based on property inspections, updated annually.

Renovations and repairs are financed with a share included in the apartment rents. The amount of this share is decided annually while preparing a periodic repair cost estimate for the following year’s budget.

The share for periodic repairs is included in the rents of all VAV properties, regardless of which properties are repaired each year.

This procedure ensures that even major repairs do not result in rents rising above VAV’s general level in the property under repair during that year.