This study conducts a thematic analysis to explore how Swedish municipal housingcompanies, affiliated with Sveriges Allmännytta (formerly SABO), navigate the dualrequirements of operating according to business principles while fulfilling their socialresponsibilities. Through semi-structured interviews with representatives from elevenmunicipal housing companies in medium-sized Swedish cities, the research examines theirapproaches to achieving business-oriented goals, meeting public utility obligations, andbalancing these objectives. The findings reveal that business principles are interpreted as aframework for long-term economic stability and professional decision-making, rather thanshort-term profit maximization. Social responsibility is deeply embedded in the companies’operations, manifested through initiatives like tenant engagement, community safetyprograms, and sustainability efforts, though the term Corporate Social Responsibility (CSR)is rarely used explicitly. The study highlights that these companies view economic stabilityand social responsibility as interdependent, with a stable financial base enabling socialinvestments. However, challenges arise from varying local conditions, political directives,and the difficulty of measuring social outcomes. The research underscores the need forclearer guidelines on business principles and more robust methods to evaluate social impactsto strengthen the balance between these dual mandates.