Needs and wishes related to homes are changing and diversifying as the urban population grows. Identifying and responding to residents’ wishes is easiest when we are designing new rental apartments or are planning to renovate existing ones. This also enables us to affect our buildings’ environmental impact.
We build SATO RentHomes or acquire new apartments from contractors following the turnkey principle. When we decide to construct a new building, we assess which apartments are suitable for rental activities and which will be sold off as owner-occupied homes.
“It was love at first sight. I knew this was the perfect home for me.”
–SATO Pulssi panelist
We measure the level of satisfaction of the residents moving to a new or renovated home and remunerate the contractor accordingly. The contract amount is higher when customer satisfaction is at the target level and no accidents have taken place on the construction site. We adopted this model for two of our sites two years ago and will expand it to cover all of our contract sites.
Even though the contractor is responsible for the construction site, we want to monitor occupational safety, as we are their customer. In 2017, we started monitoring accident frequency rates on construction sites and will develop our operations based on the accumulated data.
SATOs construction and renovation operations are driven by our expertise as a lessor and our extensive experience in construction, combined with a strong desire to understand customers’ needs. We want to know what type of home the customer wants to live in. We know how the value and usability of an apartment change over time.
In the cities in which we operate, studio apartments and small one-bedroom apartments are the most popular rental apartments. Design is even more important than usual in smaller apartments. We provide our implementation partners with clear goals and design guidelines for SATO homes, and they also have the support of our design team.
The building materials we use in rental apartments are durable and easy to care for. Functionality alone is not enough to attract customers, which is why we also pay attention to the timelessness and durability of materials, the functionality of the layout and the level of the equipment. New rental apartments come with a dishwasher, glazed balcony and fridge freezer.
On 31 December 2017, SATO had more than 1.000 rental apartments under construction in Finland, and around 850 rental apartments were completed for the SATO Group in Finland during the year.
We hope that all residents enjoy living in our homes, regardless of the age of the building. For this reason, we renovate our rental homes and properties according to life cycle principles.
During the review period, we invested around EUR 44.3 million in the repair and renovation of apartments and properties, of which repair investments accounted for EUR 25.8 million.
Some renovations are so extensive technically that it is impossible to live at home during the repairs. During the review, there were 129 such homes with about 135 residents. We provided the residents with the opportunity to find a new home from the range of rental apartments offered by SATO.
In its agreement signed with the European Investment Bank (EIB), SATO is committed to the construction of new nearly zeroenergy buildings and repairs to improve the energy efficiency of the Group’s current rental apartments during the next few years. The value of the investments covered by the agreement totals EUR 300 million.
To help in the planning of repairs that improve energy efficiency, we have developed an indicator that measures the energy efficiency of each property.
|Completed in Finland, units||913||665|
|Under construction on 31 December, units||1,109||1,270|
|Unsold owner-occupied apartments, by 31 December, units||1||27|
|Apartment repairs, MEUR||22.8||21.3|
|Repair investments, MEUR||25.8||24|
|Repair subsidies received, MEUR||0||0.9|
The fully packed StudioHome common area is buzzing on a Tuesday evening in December. Olli Järvenkylä, the building’s community manager, is preparing his presentation…