Lempäälä's Vuokrakodit Oy - a municipality-owned rental housing company specialising in renting, building and managing apartments
Lempäälä Rental Houses Ltd is a rental housing company established in 1981 in Lempäälä. The company has six employees and rents out around 800 apartments in about 40 properties, most of which are subject to ARA reporting requirements. The company's turnover in 2022 was approximately EUR 5.8 million.
Streamlining budgeting and reporting for ARA-funded rental housing
Before the implementation of Finadeck, the reporting, budgeting and forecasting processes of Lempäälä Rental Homes were mainly done with Excel, where the necessary data from Fivaldi and Tampuur were manually transferred as basic data.
Lempäälä's Vuokrakodit Oy's goal was to find software that would allow budgeting and forecasting by property and cost centre with the desired variables, such as square footage and rent per square metre, and where historical data could be easily viewed in the budgeting and forecasting process. They also needed to facilitate the ARA calculation.
"Finadeck's versatile budget entry capabilities significantly improved usability compared to the initial state"
Finadeck proved to be a suitable software solution for the challenges of Lempäälä's Vuokrakotie. Although not all the necessary functionalities were ready from the beginning, Lempäälä's Vuokraköti had the opportunity to cooperate with Finadeck and develop the necessary functionalities in a scalable way. By working together on scalable development, other rental companies will be able to use these functionalities in the future without additional customisation costs.
The most useful functionalities in Finadeck for Lempäälä's Vuokrakodit Oy were self-built budget drivers such as square footage and rent per square metre, a formula tool to build the desired key figures and a report building tool to build a report framework for the ARA calculation, among other things, in connection with the implementation training.
The ease of use of Finadeck and its versatility in entering the budget significantly improved usability compared to the initial state. In addition, Finadeck's automatic sending of reports, among other things, has saved time for the staff of Lempäälä's Vuokrakodit Oy. Finadeck has proven to be a cost-effective reporting, budgeting and forecasting tool for Lempäälä Vuokrakodit Oy, both in terms of implementation and development.
In the picture from left to right Riitta Järvenpää, CEO of Lempäälä Rental Homes Oy and Saku Pöllänen, CEO of Finadeck
Finadeck has been an excellent partner for Lempäälä's rental homes from the very beginning. Thanks to the smooth implementation training and joint follow-up meetings, Finadeck's functionalities have already been well honed to meet the budgeting, forecasting and reporting needs of the rental housing companies, and further development will make the process even easier. Customer service and support were readily available and the response rate of the designated contact person to calls was also at a commendable level.
Automation brings significant cost savings to processes
Thanks to Finadeck and its services, Lempäälä's rental homes received tangible benefits. The possibility of manual errors was significantly reduced and processes were streamlined, saving time and resources. Cost savings were also achieved, and in particular the production of cost centre-specific ARA follow-up calculations became significantly easier.
Lempäälä Rental Homes would recommend Finadeck and its service to other companies in the same industry. For Lempäälä Vuokrakodit Oy, Finadeck has proven to be a development-oriented partner that has met the needs of Lempäälä Vuokrakotit and helped them achieve their goals.