A housing association's most typical need for a loan is associated with renovation. Renovation requires careful preparations in the housing association, and the house manager plays a key role in having various surveys done. At the initial stage of planning a renovation, a condition assessment is usually commissioned, and a long-term renovation plan for the housing association is prepared on this basis.
When the General Meeting of the housing association has decided on a renovation, the project must be financed. Very few housing associations can manage on their own savings only, so the housing association must also decide on taking out a bank loan.
Municipalities and the Housing Finance and Development Centre of Finland grant subsidies to certain types of renovation projects every year, so the application period and preconditions should always be investigated.