The City of Reykjavík authorities’ policy that 5% of apartments in Reykjavík are social rental apartments is part of meeting the fundamental human right to affordable housing and promoting better finances, health and increased opportunities for individuals to participate in society.
In the period 2018–2022, it is expected that the number of apartments will increase by 600, of which 100 will be for people with disabilities. Félagsbústaðir buys apartments in all districts of Reykjavík, and emphasis is placed on the proportion of social rental housing being as equal as possible within each district. It is generally considered that Félagsbústaðir does not own more than 10% in apartment buildings where ownership is distributed.
The increase in the number of Félagsbústaðir rental apartments and plans for development take into account the emphasis of the Reykjavík authorities at any given time, usually in four-year periods. The needs analysis of Reykjavík’s Welfare Department and the approval of the Félagsbústaðir Board of Directors is also taken into account.
When buying apartments, the condition of the apartment and the maintenance needs of the community area, defects in construction, planning of the apartment, location and local services are also taken into account. Apartments located in basements or attics are not purchased, e.g. due to accessibility and maintenance issues. Apartments with extra rooms in the basement or attic, with garages or apartments on two floors are not usually purchased.