Korteriühistu Annual Report in Estonia: Deadline and Possible Relief

In Estonia the board of a korteriühistu (apartment association) prepares the annual report (majandusaasta aruanne) and the owners' general meeting approves it. The approved report goes to the register of apartment associations within six months after year-end – 30 June for a calendar year – and must show the management costs of each apartment ownership. On our reading, an association with up to ten apartment ownerships need not prepare it, unless a valitseja runs it. Confirm that with the register's guidance or your accountant first.

Who prepares and approves the annual report?

The board prepares it; the general meeting approves it. The Apartment Ownership and Apartment Associations Act (Korteriomandi- ja korteriühistuseadus, KrtS) points to the Non-profit Associations Act (mittetulundusühingute seadus, MTÜS):

„Kui korteriühistu peab koostama majandusaasta aruande, kohaldatakse selle koostamisele, esitamisele ja kinnitamisele mittetulundusühingute seaduse § 36 lõigetes 1–4 mittetulundusühingu majandusaasta aruande kohta sätestatut käesolevas seaduses sätestatud erisustega.“ (KrtS § 51(1))

It applies where the association must prepare a report (see below).

Quorum: owners holding more than half of the votes and of the co-ownership shares (KrtS § 20(2)). Majority: more than half of those taking part (MTÜS § 22(1), applied through KrtS § 20(1)). The statutes may provide otherwise. Each apartment ownership has one vote by default (KrtS § 22(1)).

Our Estonian templates: minutes, proxy (a representative needs a written document, KrtS § 22(5)) and decision without a meeting (KrtS § 21(1)); whether the last route suits approving the report is for your lawyer.

What must the notice say when the report or the majanduskava is on the agenda?

Where and how owners can see the document.

„Kui korteriomanike üldkoosoleku päevakorras on põhikirja muutmine, majanduskava kehtestamine või majandusaasta aruande kinnitamine, tuleb üldkoosoleku teates märkida koht, kus on võimalik tutvuda põhikirja või majanduskava eelnõuga või majandusaasta aruandega, ning nende dokumentidega tutvumise kord.“ (KrtS § 20(3))

„Kui korteriomanik on teatanud korteriühistule oma elektronposti aadressi, tuleb korteriomanike üldkoosoleku teade ja käesoleva paragrahvi lõikes 3 nimetatud dokumendid saata sellel aadressil.“ (KrtS § 20(4))

Owners who gave an e-mail address get both by e-mail. Notice is due at least seven days ahead unless the statutes set a longer period (MTÜS § 20(5), via KrtS § 20(1)).

What else must the report contain?

The management costs of each apartment ownership.

„Korteriühistu majandusaasta aruandes märgitakse lisaks muudele seaduses sätestatud andmetele ka iga korteriomandi majandamiskulude suurus.“ (KrtS § 51(3))

We publish no sample report; settle its format with your accountant.

What is the filing deadline?

Six months after the financial year ends.

„Korteriühistu esitab kinnitatud majandusaasta aruande korteriühistute registrile kuue kuu jooksul majandusaasta lõppemisest arvates. Kui audiitorkontroll on kohustuslik, esitatakse aruanne koos vandeaudiitori aruandega.“ (KrtS § 51(4))

Where an audit is mandatory, the sworn auditor's report goes with it; ask your accountant whether that applies to you. The law does not fix the financial year; for a calendar year the deadline is 30 June. Only an approved report is filed, so hold the meeting earlier, allowing for the notice.

Is an association with up to ten apartment ownerships exempt?

On our reading of two provisions taken together, yes, unless a valitseja runs it. No single sentence of the law says so.

„Kuni kümne korteriomandiga korteriühistu võib pidada kassapõhist raamatupidamist, kui korteriühistu põhikirjas ei ole ette nähtud teisiti. Sellisel juhul kohaldatakse raamatupidamise seaduse § 43 lõikes 2 sätestatut.“ (KrtS § 50(2))

„Kui kuni kümne korteriomandiga korteriühistu peab tekkepõhist raamatupidamist, kohaldatakse raamatupidamise seaduse § 43 lõikes 3 sätestatut.“ (KrtS § 50(3))

Cash-based books are allowed unless the statutes say otherwise. For them, the Accounting Act (raamatupidamise seadus, RPS) § 43(2) lists the sections that apply, and § 14, the annual-report duty, is not among them. For accrual books, § 43(3) says it directly:

„Sellise ettevõtja suhtes ei kohaldata käesoleva seaduse §-s 14 nimetatud majandusaasta aruande koostamise kohustust.“ (RPS § 43(3))

Neither relief applies when a valitseja (a company in place of the board) runs the association:

„Käesoleva paragrahvi lõigetes 2 ja 3 sätestatut ei kohaldata, kui korteriühistut juhib ja esindab valitseja käesoleva seaduse § 26 kohaselt.“ (KrtS § 50(4))

In force since 01.02.2023. Before skipping the report, confirm this with the register's guidance or your accountant.

What is the majanduskava and who adopts it?

The board's plan for the financial year, in five parts (KrtS § 41(1)): the state of the common property and planned works; income and costs; how owners share the costs; payments to the reserve and the remondifond (repair fund); forecast quantity and cost of fuel, heat, water and sewerage, and electricity.

„Majanduskava kehtestab korteriomanike üldkoosolek.“ (KrtS § 41(3))

„Kui majandusaasta alguseks ei ole kehtestatud uut majanduskava, kehtib senine majanduskava kuni uue majanduskava kehtestamiseni.“ (KrtS § 41(5))

The meeting adopts it; the old plan applies until a new one is. Owners pay advances under it by co-ownership share unless the statutes say otherwise (KrtS § 40). If the plan cannot keep the association solvent, the board drafts a new one and calls an extraordinary meeting (KrtS § 41(4)). See our board member article.

How large must the reserve and the remondifond be?

The reserve must be at least one twelfth of expected annual costs.

„Korteriühistul peab olema reservkapital, mille suurus on vähemalt üks kaheteistkümnendik korteriühistu aasta eeldatavatest kuludest. Reservkapitali suuruse üle otsustab korteriomanike üldkoosolek.“ (KrtS § 48)

The remondifond has no statutory minimum; KrtS § 35(2) point 5 treats creating a reserve and repair fund of appropriate size as ordinary management. Both payments go in part four of the majanduskava.

What Unitify does

Unitify does not prepare the report or the plan and files nothing with the register – that stays with the board and the accountant. It handles the work around them:

• Notices. The meeting notice goes to owners in the resident app; the manager chooses the text and the language.
• Votes. Owners can vote in the app; the manager sees participation and votes per apartment. Whether such a vote meets the legal form is for the association's lawyer.
• Documents and charges. The approved report, plan and minutes can be stored per building and published to owners; charges and arrears are kept per apartment, with reminders.

The app's interface is in English for now and is set up for each project; there is no Estonian interface yet.

See Unitify in Estonia or book a demo.

Sources: Korteriomandi- ja korteriühistuseadus, mittetulundusühingute seadus, raamatupidamise seadus, Riigi Teataja; checked 4 November 2026. The text changes: open the current version before relying on it. This is not legal advice.