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What is Co-operative housing?

Housing co-ops are member-owned and controlled and can provide affordable alternative for people on moderate incomes. The people who live in housing co-op’s are members not tenants.

Co-op’s are run by the members and everyone has a vote. Members elect the Board of directors, approve the annual budget and set policies. The monthly housing charges (rent) are set by the members to cover the costs of running the co-op.

As a co-op member, you can live in your home for as long as you wish if you follow the rules of the co-op. What differs co-ops apart from private rental housing is that they are democratic communities where the residents make decisions on how the co-op runs the day-to-day operations.