Annual Report 2024
CEO’s review
We want to serve, develop sustainably and succeed together!
Both in Finland and globally, the last few years have been full of uncertainties for the economy and economic growth. The ever-changing environment challenges us all to continuously develop, innovate and ensure stability and agility at the same time.
At the end of last year, we prepared a new customer experience-based strategy for the company, redefined our values and clarified our mission – we are privileged to do work that makes a huge difference. Together with our staff, management team and Board, we agreed on the things we will focus on: delivering the best customer experience, investing in sustainability and responsible operations, actively creating value for our owners and the urban environment, looking after and developing our valuable property portfolio, ensuring our staff are skilled and well.
With these priorities in mind, we redefined all our activities and tasks and rolled up our sleeves. In 2024, we made more significant and tangible changes than we have in years. From a staff perspective, it was not an easy year. The jobs of everyone in the Bay Area changed. In the winds of change, we were determined to keep our feet on the ground: looking after our profitability and finances, our real estate assets, our homes and our residents.
At the time of writing, our customer experience and churn metrics look like we are exactly on the right track. Without committed and skilled staff, the changes would not have been successful. We want to serve – our customers and each other!
Sanna Karppinen
Managing Director of Lahden Talot
Lahden Talot in brief
We are the largest landlord in the Lahti region. We rent, own, maintain and build high quality but comfortably priced homes. We have over 7,000 apartments, offering comfortable options for those who love the pulse of the city as well as those who love quiet areas. Responsible action is a matter close to our hearts. We are constantly and actively working together with our residents to promote energy-efficient housing.
Our key figures
Lahden Talot Group
Subsidiaries
Highlights of 2024
We renewed our strategy
Our new strategy 2024-2030 will better meet our customers’ needs and ensure reasonably priced housing in Lahti. Our mission is to provide suitable homes for different stages of life. At the same time, we will develop housing and sustainable and safe neighbourhoods. We also focus on skilled and well-qualified staff. Here you can find more information about our strategy.
We renewed our brand image
The new visual identity brought our brand into the present day. A fresher and more modern look strengthens the recognition and attractiveness of Lahden Talot for both our customers and our partners.
We invested in a better customer experience
In autumn 2024, we will launch our new online service, which will offer our customers an even easier and smoother way to do business. Our renewed service will make it easier than before to receive up-to-date information, find out about homes and living areas, and apply for rental apartments at Lahdentalot.fi.
We were the most responsible summer employer in Finland
We were selected as the most responsible summer employer of 2024 in Oikotie’s Responsible Summer Job survey for small and medium-sized organisations. In the 2024 survey, 13,185 summer employees evaluated their summer work experience. Lahden Talot received a score of 4.93 on a scale of 1 to 5. Read more about our participation in the Responsible Summer Employer competition.
We completed our second wooden apartment building
The completion of our new wooden apartment building at Svinhufvudinkatu 7 continued our strategy of sustainable and ecological construction despite the challenging economic climate in the sector. Our new wooden apartment building took occupancy in September 2024, offering stylish rental housing in a prime location close to Lahti’s city centre.
We bring quality to student housing
We plan to build two new student houses on Laatikkotehtaankatu. The houses will go up behind the previously built student houses on the Niemi Campus Track, right next to the LAB and LUT campus. It is important for us to provide excellent quality and comfortable housing for different life situations and to ensure that there are enough homes for students. At the same time, we will increase Lahti’s attractiveness as a student city.
We renewed our strategy
New strategy of Lahden Talot focuses on residents, affordable homes and well-being and skilled staff.
2024 was the first year of Lahden Talot new strategy (2024-2030). The company continued to develop its property portfolio by building new and renovating existing stock. Long-term and systematic work in managing the property portfolio, profitability and finances is a good basis for a more customer-oriented approach.
With its new strategy, Lahden Talot made a bold start and implemented significant operational changes during the past year – more than in the past few years combined. The company established a property management unit and renewed its customer service. The entire organisation was reorganised and all work tasks were redefined in line with the new strategy. At the same time, it introduced a new ERP system and revamped its brand and online services.
Sanna Karppinen , CEO of Lahden Talot since October 2023, says that it was time for the company to renew itself.
– There have been a lot of changes in the operating environment in recent years. We need to renew ourselves in order to continue to offer good housing and affordable homes to the people of Lahti. By renewing, we are building a sustainable foundation for the best customer experience,” says Karppinen.
We need to renew ourselves in order to continue to provide good housing and affordable homes for the people of Lahti in the future.”
Sanna Karppinen, Managing Director
The introduction of the new strategy brought new tasks and many changes to the workplace for people in the Lahti Area. Alongside a year of change, Lahden Talo has also focused on wellbeing and skilled staff.
– It has been a great pleasure to see how our whole organisation has taken the new strategy forward with enthusiasm. The renewal would not have been possible without our staff, whose contribution, attitude and professionalism I greatly appreciate,” says Karppinen.
Homes suitable for different stages of life
Customer orientation guides Lahden Talot’s operations at all meeting points, at all stages of the housing life cycle. We genuinely want to listen to and understand our customers so that we can provide the right and smooth solutions. Smoothness means convenience and ease for the customer.
Customers and their needs are also at the forefront of Lahden Talot’s minds when new homes are built and existing properties are renovated or refurbished. The company’s mission is to provide suitable homes for different stages of life and to develop good housing and safe living environments for the people of Lahti.
All our homes stand the test of time and life
Lahden Talot made thousands of renovations to its homes and properties during 2024.
What makes a home feel like your own? According to Lauri Hiltunen, technical property manager at Lahden Talot, the most important factors in choosing a home are price, location and the condition of the home. Lahden Talojen’s homes are affordable and can be found all over Lahti – one, two and three-bedroom homes to suit all life situations. Last year alone, Lahden Haus homes were renovated to the tune of around €4 million.
Painting and wallpapering are the most common repairs in Lahden Talot homes, but also, for example, kitchens and bathrooms are renovated and appliances are replaced after periodic inspections and when tenants change.
– If a home needs a surface renovation, our customers can influence the colour of the walls and wallpaper, for example,” says Hiltunen.
A good customer experience is also important to us during renovations and construction.”
Olli Lummukka, Project Manager
Lahden Talot regularly assesses the condition of its homes and properties. In all Lahden Talot’s new projects, renovations, repairs and refurbishments, the aim is to achieve a careful handprint, longevity and energy efficiency.
– A good customer experience is also important to us during renovation and construction. We aim to organise all kinds of renovation work so that it disturbs our customers’ lives as little as possible,” says Lahden Talojen Project Manager Olli Lummukka.
Building, renovation and good housing
Lahden Talot aims for more sustainable housing and a better customer experience by building new and taking good care of its existing property portfolio.
Helkalankatu 1 renovated from floor to ceiling
In the comprehensive renovation of Helkalankatu 1, completed in 1991, all interior surfaces were replaced and the interiors of the apartments were modernised. The building services were also completely renewed, the balconies were repaired and glazed and the courtyards were renovated. All 36 homes in the building received new bathrooms, kitchens, flooring and wall finishes, among other things.
More student homes on Box Factory Street
Laatikkotehtaankatu 5 D and 5 E are two interconnected 7-storey A-energy class student buildings with a total of 99 apartments and common facilities. The apartments are spacious one and two-bedroom units and represent modern rental housing at its best. Construction work on the site started in October 2024 and the student buildings will be completed in April 2026.
Wooden apartment building on Svinhufvudinkatu completed
Lahti Talot newest property, Svinhufvudinkatu 7, was completed in the so-called Nelo block. The construction of the wooden apartment buildings has been part of Lahden Talot strategy of sustainable and ecological construction, providing with a diverse and expressive living environment. Residents were able to move into their new homes on 9 September.
Facade renovation extended the life cycle of the house
During the extensive renovation of the facades of Mastokatu 1 A and B apartment buildings, the old insulation layers were removed up to the load-bearing frame. The new insulation layer and surface will extend the life cycle of the building and improve its energy efficiency, in addition to the overall appearance of the building.
From club rooms to living rooms for the whole house
Lahden Talot invested in the community spirit of its residents by renovating ten club rooms. They renewed surfaces, furniture and lighting. A flat-screen TV and internet connection can now be found in the hiding places of the renovated club rooms. Common living rooms throughout the building are used for leisure and hobbies.
Sauna renovation respecting traditions
Aleksanterinkatu 29, the house known as Olavinlinna, was designed by architect Unto Ojonen. The house features unique solutions such as curved corner windows and oval-shaped window openings in the living rooms. Lahden Talot renovated the shared sauna on the A-floor in collaboration with the architect – a sauna renovation using modern technology while respecting the spirit of the old house.
Vaaksakatu 6 started renovation of the domestic hot water system
The renovation will include the replacement of the pipes carrying drinking water and domestic hot water, as well as the heat exchangers in the heat room. The renovation will reduce the risk of water damage and improve water quality. The new pipes will also ensure a constant and good water pressure. In addition, better plumbing can reduce water consumption and improve the distribution of hot water.
We had the happiest summer workers in Finland
Lahden Talot was selected as the most responsible summer employer of 2024 in Oikotie’s Responsible Summer Job survey in the category of small and medium-sized organisations.
Oikotie’s Responsible Summer Job campaign annually rewards the best summer employers, based on summer workers’ reviews. In the 2024 survey, 13,185 summer workers rated the applicant experience, orientation, job meaningfulness, fairness and equity, and overall satisfaction, among other things.
– A good summer job experience has a big impact on a young person’s career. We make sure that our summer workers feel that they are a valuable part of the Lahden Talojen working community,” says Petri Juvonen, Director of Human Resources at Lahden Talojen.
Lahden Talot received top scores especially for the applicant experience; an informative summer job advertisement, a smooth application process and good communication during the recruitment process were highlighted in the good experiences and evaluations of the summer workers.
Induction and guidance, job meaningfulness, fairness and equity, overall satisfaction and the employment contract all scored very good.
We invest in wellbeing and skilled staff
Lahden Talojen aims to create a good working archipelago where everyone can be themselves and feel like they belong. Together, the people of Lahden Talas are doing meaningful work for homes and better living.
Skilled and well-qualified personnel is one of the priorities of Lahden Talot new strategy. A good employee experience is built together through small and big actions – equality, equity and responsibility, as well as shared moments such as afternoon coffee and well-being at work days. Staff well-being is listened to sensitively in the workplace, including through regular well-being surveys.
In 2024, the staff experienced more changes than perhaps ever before in the history of Lahden Talot. Extensive reforms were made to the organisation and tasks, with the aim of becoming more customer-oriented. In addition, the company’s values, joint staff meetings and office ground rules were jointly planned and updated. The main ERP system was changed in October.
The people of Lahde Talot also left behind the premises in Mariankatu, where they had worked until 1998. The new multi-user office at Aleksanterinkatu 8 supports, among other things, more open communication and more encounters with colleagues. According to Jenni Lauhia, HR specialist at Lahden Talot, many people already feel that the multi-space office has increased their own well-being at work. Employees will be able to move into the new premises at Aleksanterinkatu 8 in April 2025.
One of the core values of the new strategy is to succeed together. Your own work and that of your colleagues is valued and each and every Lahden Talot employee build a supportive and open working atmosphere.
– I feel that our employees are listened to and have the opportunity to influence their own work. Joy is part of working life. That’s why successes such as positive customer feedback have started to be brought to everyone’s attention,” says Lauhia.
