Apartment association repair fund calculator

The planner shows whether the current repair fund payment covers the planned works (e.g. roof, heating system, facade) and how large the payment should be so that the money is there for each work without a loan. It takes into account the current balance, rising construction prices and any grant.

Calculation: the fund collects payment × apartment area × 12 months a year. By each work the fund must hold the money for all works so far; the required payment is the largest shortfall divided by the area and number of months. If the shortfall is covered by a loan, the annuity payment is calculated and shared per square metre.

Law: an Estonian apartment association’s annual budget must set the payments into the reserve capital and the repair fund (Apartment Ownership and Apartment Associations Act § 41). The reserve capital must be at least one-twelfth of the association’s expected annual costs (§ 48) – it is separate from the repair fund.

Day-to-day maintenance: besides the repair fund, the association’s annual costs (and so the reserve capital) include outdoor maintenance – lawn mowing, snow removal, de-icing and leaf clearing. In Tartu and Tartu County, outdoor maintenance for apartment associations is offered for example by Heakord24; include the contract price in the annual budget from the start.

As a guide: according to Kortermajaleht, the repair fund payment could be about €0.2/m² for a newer building and at least €1/m² a month for an older one; a bank may expect at least €0.8/m² for a loan. The apartment building renovation grant has been 30–50% in recent rounds (more in some regions) – check the current round. The 3% annual price increase is an example.