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HOUSING ASSOCIATION FEE

A housing association fee (hússjóður) is billed monthly with the rent. The fee varies between apartment buildings, based on decisions made by the housing association in the building in question, and are divided proportionally between residents.

Félagsbústaðir collect monthly housing association fees from their tenants 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 own both individual apartments and entire apartment buildings. Housing associations, where Félagsbústaðir own individual flats, send Félagsbústaðir an invoice monthly and fees are decided by the board of the housing association in question. Housing association fees are divided proportionally 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 on the operating costs of the past year.

Housing association fees vary from house to house depending on what is included in them. What is often included in the fee is heating, electricity, care of the garden, e.g. mowing and snow removal, garbage collection fees, and recycling. Sometimes cleaning of common areas is included in the fee, but in other cases the residents share the responsibility of cleaning of the common areas themselves.

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