About
What is a Co-op
The co-op housing is jointly owned by the people who live in them. When you move into a co-op you become a member. These diverse and vibrant communities are the unique strength of the co-op housing movement. As a part of a national and international movement, members also share democratic principles and a rich heritage with thousands of others around the world.
The members do not own equity in their housing. If they move, their home is returned to the co-op, to be offered to another individual or family who needs an affordable home.
If you live in a non-profit housing co-op you are:
- A voting member who contributes to the governance of the co-op.
- Part of a community where neighbors look out for one another.
- Living in housing that will stay affordable.
The co-op members have the right to:
- Vote on the annual budget.
- Elect a board of directors made up of people who live in your co-op.
- Run for the board of directors yourself.
- Receive audited financial statements that show how the co-op spent your money.
- Pay only a limited portion of your income for your housing, if you meet eligibility rules.
- Live there for as long as you like, if you keep to the by-laws agreed on by the co-op membership.
The members do not own equity in their housing. If they move, their home is returned to the co-op, to be offered to another individual or family who needs an affordable home.
If you live in a non-profit housing co-op you are:
- A voting member who contributes to the governance of the co-op.
- Part of a community where neighbors look out for one another.
- Living in housing that will stay affordable.
The co-op members have the right to:
- Vote on the annual budget.
- Elect a board of directors made up of people who live in your co-op.
- Run for the board of directors yourself.
- Receive audited financial statements that show how the co-op spent your money.
- Pay only a limited portion of your income for your housing, if you meet eligibility rules.
- Live there for as long as you like, if you keep to the by-laws agreed on by the co-op membership.
