Rent payment and deposit
Rent payment
Rent invoices are sent to tenants on the first working day of each month. Invoices are delivered to the email address provided by the tenant in the Domo system. Tenants are responsible for keeping their contact details up-to-date throughout the tenancy. Rent is due by the 6th of each month. Rent cannot be paid in cash or by card. It is important to include the reference number from the invoice to ensure the payment is matched to the correct invoice without delay. For international payments, you can enter the reference number in the message field.
We remind clients of unpaid rent invoices before forwarding the invoice to collections. We encourage tenants to contact us via the contact form if they wish to arrange a payment plan in financially challenging circumstances. The purpose of the payment plan is to prevent unpaid rent from accummulating to an insurmountable amount, which could lead to termination of the tenancy.
Rent payment when the apartment is partly or wholly transferred to another person’s use (subleasing and secondary leasing)
The main tenant remains responsible for rent payments to AYY, even if they have subleased or secondary leased all or part of the apartment to another person. AYY always issues rental invoices to the main tenant. The subtenant or secondary tenant does not have a direct rental agreement with the student union.
AYY recommends that the subtenant or secondary tenant pay rent directly to the main tenant, and the main tenant is solely responsible for paying rent to AYY. This arrangement ensures that the main tenant can confirm the subtenant or secondary tenant pays the rent on time. AYY will charge any possible expenses due to payment delays to the main tenant.
Excess payments
If the tenant accidentally overpays rent, they can request a refund of the excess amount via the contact form. The refund request must include the account number to which the refund should be paid. If the tenant does not report the excess payment or request a refund, the excess will be applied as an advance for next month’s rent.
Deposit
According to the new deposit policy, AYY no longer requires a deposit from all tenants. A credit check is conducted at the time of the housing offer, and the payment of the deposit is made upon accepting the offer. Before the rental agreement enters into force, we will verify that the deposit has been paid. The deposit is usually equal to one month’s rent. However, in case of a poor credit record, AYY may require a deposit equal to 2–3 months’ rent. A decision in principle regarding the deposit policy change was made by the AYY Board in 2022.
The deposit must be paid when signing the rental agreement via the payment link provided with the housing offer.
The deposit is collected from the following client groups:
- Individuals whose credit rating cannot be verified, such as new international students without a Finnish social security number: a deposit equal to 1 month’s rent.
- Exchange students: a deposit equal to 1 month’s rent.
- All tenants moving into friends’ apartments, regardless of nationality or credit record: a deposit equal to 1 month’s rent is divided among the tenants, and the primary applicant is responsible for providing payment receipts when signing the rental agreement. If all payments are not completed on time, the offer will expire.
- Individuals with a poor credit record: a deposit equal to 2–3 months’ rent at AYY’s discretion.
If the deposit is not paid within the specified time limit, the offer will expire, and the apartment will be offered to the next applicant.
International students are advised to update their Finnish social security number in the Domo system as soon as they receive it.
The new deposit policies will apply to housing offers made after 6 Nov 2024. Previously paid deposits will be refunded at the end of the rental agreement, provided that all rental obligations are met.
Deposit refund
The deposit will be refunded to the account provided in the Domo system within approximately one month after the end of the rental agreement, provided that all rent liabilities are met, no damage has been caused to the apartment, and the apartment has been cleaned.
The account number is primarily provided in the Domo system when completing the termination form. The renter may deduct from the deposit or invoice the tenant for any unpaid rent, final cleaning costs, expenses for unreturned keys, and charges for damages to the apartment, such as damage caused by pets and other damages that exceed normal wear and tear. Costs are collected or deducted from the deposit based on actual expenses.