Frequently asked questions
Q. How do Housing Co-operatives differ from Condominiums?
In condominiums each resident owns his/her own home and is free to sell the home at current market value. Co-operatives are managed by Members, collectively and thrive on dedicated Membership, which encourages interdependence on many levels.
Q. What are the benefits of Membership in Skotoko Housing Co-operative?
Security of tenure, housing charges that do not fluctuate with the housing market, community living, the right to contribute in what happens at Skotoko Housing and a great environment for raising your family.
Q. Are Skotoko Housing members renters or owners?
Collectively Skotoko Housing Members ‘own’ the mortgage on the buildings and the land lease for the property.
Q. Do I own my Unit?
No. You own shares in Skotoko Housing Co-operative in its entirety. As a Shareholder/Member you are entitled to reside in one of the Units.
Q. Is my Share purchase amount handled as a damage deposit?
No. When you buy your Shares, you become a Member of Skotoko Housing Co-operative. As noted earlier, Membership gives you the right to reside in the Co-op and to have a say in what happens in the Co-op. However, it is true that, if there is damage to your Unit when you leave the Co-op, the Co-op can withhold monies from your Share ‘refund’ to pay for repairs. Keep in mind that you are responsible for damage to your Unit, even if the cost of repair upon your departure is greater than the value of your Shares. Please also note that shares at Skotoko Housing Co-op are noninterest baring.
Q. If I decide to move out, can I sell my shares?
No. Your shares are bought back by Skotoko Housing Co-op, subject to any monies which might be withheld as per our Member Share Agreement. The shares will be re-sold to the next incoming Member.
Q. What additional costs are associated with living in the Co-op?
Members purchase shares when they first join the Co-op. The usual household utility expenses are paid by the member: gas, electrical power, and communications. In addition, our units are not provided with washers and dryers, although hook-ups are available. Regular home maintenance is also a responsibility of the Member and costs can be associated with regular preservation of your unit.
Q. Am I allowed to keep pets?
Yes, but it is a privilege, and not a right. You will need to ensure that you follow our Pet Policy.
Q. Do I have to volunteer at Sunnyhill? Do I have to be involved on a committee?
YES, all Skotoko Members must contribute to the Co-operative. You have chosen to live in a housing cooperative, and you have accepted the responsibility of sharing in this Co-op’s affairs. Every Unit is required to actively serve on a committee or the Board of Directors. Additionally, volunteering throughout the Okotoks community... We understand that sometimes Members will need a break from volunteering for short periods of time during their stay at Skotoko Housing, and these breaks are acceptable to the Members. We also understand that some volunteer work can be accomplished outside of committee work and so we try to stretch our definition of ‘volunteer’ to accommodate those efforts.
Q. What will happen if the Co-op should be dissolved?
After payment of its debts and liabilities and after repayment of Shares to the Members, the remaining property of the non-profit housing coop must be transferred to or distributed among, one or more non-profit housing co-operatives, non-profit organizations, or charitable organizations as per 389(1)(b) of the Cooperatives Act, Alberta.
Q. How and when are the Board of Directors chosen?
Prospective Directors are nominated out of the general Membership prior to, or during the Annual General Meeting. Any Member may submit his/her own name or that of another Member for nomination. The Directors are volunteers who are elected democratically by secret ballot at an Annual General Meeting.
Q. Can anyone vote at the Annual General Meeting or a Special Meeting?
NO. The rule is one vote per Unit.
Q. Who makes the rules for our Co-op?
We must abide by the defining documents of our Housing Co-operative. These include the National Housing Act, our Commitment Letters with CMHC, our Operating Agreement with CMHC, our Mortgage Agreement with the CMHC, our Land Lease with the City of Okotoks, the Cooperatives Act and Regulations, Alberta, our Articles of Incorporation, our Shareholders Agreement, and our Bylaws. Additionally – we must follow our policies and procedures. Members, either individually or as Member of a Committee, write and revise policies and procedures and the general Membership approves all policies and procedures at Co-op Special Meetings. Current By-laws provide for the Board to approve any policy which is not deemed a Major Policy, but currently the Board has deemed that all policy must be approved by the Members.
Q. Am I responsible for insurance on my personal possessions?
Yes. Your personal insurance should cover fire insurance on ALL personal property, including any improvements to your unit as well as personal liability.
Q. How much is the housing charge at Skotoko Housing Co-op for 2020/2021?
$880.00 currently
$924 effective September 2021
Members can request a subsidy as per the Federal Community Housing Initiative Phase II guidelines.
Q. Who qualifies for subsidy?
A household is eligible if the co-op’s full housing charge is more than 30 per cent of the household’s total monthly income.
Q. Are we required to report our income if we are not applying for subsidy?
No. Members are required to report their household income on the Income Information form distributed in accordance with the FCHI guidelines. Skotoko Housing Co-op requires proof of income every 6 months to ensure we are compliant with the subsidy program.
Q. How much do housing charges increase each year?
The Co-operative is a non-profit corporation. Typically increases in housing charges have kept pace with inflation with an increase of 1% to 3% each year. However, housing charges are the Co-op’s only source of income and could increase by larger amounts should it be required due to an increase in the expenditure budget for the year, such as might occur because of increased labour costs. Note also that if there is a change in your financial or living circumstances which no longer allow you to qualify for subsidy, housing charges can increase to the maximum rate charged in the following fiscal year, which in extenuating circumstances could be as much as 25% more.
THE COMMITTEES
Skotoko Housing Co-op has several different committees that play a vital role in the operation of the co-op. Below is a list of the committees that Members can be involved in.
The Finance Committee
The Finance Committee is charged with the supervision of all the financial matters pertaining o Skotoko Housing Co-op Ltd.
The Maintenance Committee
The Maintenance Committee is responsible for planning and monitoring the maintenance program for the Co-operative. This includes improvements, alterations.
The Interview/Membership Committee
The Interview/Membership Committee is to develop standards and procedures for accepting and housing new members. This includes processing applications, interviewing applicants, and making recommendations to the Board of Directors.
The Parking Committee
The Parking Committee is to develop policies for parking control and enforce the Parking Policy with membership.
The Pet Committee
The Pet Committee is to develop policies for pet control and responsible for ensuring that the Pet Policy is obeyed.
The Grounds Committee
Similar in nature to the Maintenance Committee, the Grounds Committee oversees major Grounds issues, and collects quotes, sQ. How do Housing Co-operatives differ from Condominiums?
In condominiums each resident owns his/her own home and is free to sell the home at current market value. Co-operatives are managed by Members, collectively and thrive on dedicated Membership, which encourages interdependence on many levels.
Q. What are the benefits of Membership in Skotoko Housing Co-operative?
Security of tenure, housing charges that do not fluctuate with the housing market, community living, the right to contribute in what happens at Skotoko Housing and a great environment for raising your family.
Q. Are Skotoko Housing members renters or owners?
Collectively Skotoko Housing Members ‘own’ the mortgage on the buildings and the land lease for the property.
Q. Do I own my Unit?
No. You own shares in Skotoko Housing Co-operative in its entirety. As a Shareholder/Member you are entitled to reside in one of the Units.
Q. Is my Share purchase amount handled as a damage deposit?
No. When you buy your Shares, you become a Member of Skotoko Housing Co-operative. As noted earlier, Membership gives you the right to reside in the Co-op and to have a say in what happens in the Co-op. However, it is true that, if there is damage to your Unit when you leave the Co-op, the Co-op can withhold monies from your Share ‘refund’ to pay for repairs. Keep in mind that you are responsible for damage to your Unit, even if the cost of repair upon your departure is greater than the value of your Shares. Please also note that shares at Skotoko Housing Co-op are noninterest baring.
Q. If I decide to move out, can I sell my shares?
No. Your shares are bought back by Skotoko Housing Co-op, subject to any monies which might be withheld as per our Member Share Agreement. The shares will be re-sold to the next incoming Member.
Q. What additional costs are associated with living in the Co-op?
Members purchase shares when they first join the Co-op. The usual household utility expenses are paid by the member: gas, electrical power, and communications. In addition, our units are not provided with washers and dryers, although hook-ups are available. Regular home maintenance is also a responsibility of the Member and costs can be associated with regular preservation of your unit.
Q. Am I allowed to keep pets?
Yes, but it is a privilege, and not a right. You will need to ensure that you follow our Pet Policy.
Q. Do I have to volunteer at Sunnyhill? Do I have to be involved on a committee?
YES, all Skotoko Members must contribute to the Co-operative. You have chosen to live in a housing cooperative, and you have accepted the responsibility of sharing in this Co-op’s affairs. Every Unit is required to actively serve on a committee or the Board of Directors. Additionally, volunteering throughout the Okotoks community... We understand that sometimes Members will need a break from volunteering for short periods of time during their stay at Skotoko Housing, and these breaks are acceptable to the Members. We also understand that some volunteer work can be accomplished outside of committee work and so we try to stretch our definition of ‘volunteer’ to accommodate those efforts.
Q. What will happen if the Co-op should be dissolved?
After payment of its debts and liabilities and after repayment of Shares to the Members, the remaining property of the non-profit housing coop must be transferred to or distributed among, one or more non-profit housing co-operatives, non-profit organizations, or charitable organizations as per 389(1)(b) of the Cooperatives Act, Alberta.
Q. How and when are the Board of Directors chosen?
Prospective Directors are nominated out of the general Membership prior to, or during the Annual General Meeting. Any Member may submit his/her own name or that of another Member for nomination. The Directors are volunteers who are elected democratically by secret ballot at an Annual General Meeting.
Q. Can anyone vote at the Annual General Meeting or a Special Meeting?
NO. The rule is one vote per Unit.
Q. Who makes the rules for our Co-op?
We must abide by the defining documents of our Housing Co-operative. These include the National Housing Act, our Commitment Letters with CMHC, our Operating Agreement with CMHC, our Mortgage Agreement with the CMHC, our Land Lease with the City of Okotoks, the Cooperatives Act and Regulations, Alberta, our Articles of Incorporation, our Shareholders Agreement, and our Bylaws. Additionally – we must follow our policies and procedures. Members, either individually or as Member of a Committee, write and revise policies and procedures and the general Membership approves all policies and procedures at Co-op Special Meetings. Current By-laws provide for the Board to approve any policy which is not deemed a Major Policy, but currently the Board has deemed that all policy must be approved by the Members.
Q. Am I responsible for insurance on my personal possessions?
Yes. Your personal insurance should cover fire insurance on ALL personal property, including any improvements to your unit as well as personal liability.
Q. How much is the housing charge at Skotoko Housing Co-op for 2020/2021?
$880.00 currently
$924 effective September 2021
Members can request a subsidy as per the Federal Community Housing Initiative Phase II guidelines.
Q. Who qualifies for subsidy?
A household is eligible if the co-op’s full housing charge is more than 30 per cent of the household’s total monthly income.
Q. Are we required to report our income if we are not applying for subsidy?
No. Members are required to report their household income on the Income Information form distributed in accordance with the FCHI guidelines. Skotoko Housing Co-op requires proof of income every 6 months to ensure we are compliant with the subsidy program.
Q. How much do housing charges increase each year?
The Co-operative is a non-profit corporation. Typically increases in housing charges have kept pace with inflation with an increase of 1% to 3% each year. However, housing charges are the Co-op’s only source of income and could increase by larger amounts should it be required due to an increase in the expenditure budget for the year, such as might occur because of increased labour costs. Note also that if there is a change in your financial or living circumstances which no longer allow you to qualify for subsidy, housing charges can increase to the maximum rate charged in the following fiscal year, which in extenuating circumstances could be as much as 25% more.
THE COMMITTEES
Skotoko Housing Co-op has several different committees that play a vital role in the operation of the co-op. Below is a list of the committees that Members can be involved in.
The Finance Committee
The Finance Committee is charged with the supervision of all the financial matters pertaining o Skotoko Housing Co-op Ltd.
The Maintenance Committee
The Maintenance Committee is responsible for planning and monitoring the maintenance program for the co-operative. This includes improvements, alterations.
The Interview/Membership Committee
The Interview/Membership Committee is to develop standards and procedures for accepting and housing new members. This includes processing applications, interviewing applicants, and making recommendations to the Board of Directors.
The Parking Committee
The Parking Committee is to develop policies for parking control and enforce the Parking Policy with membership.
The Pet Committee
The Pet Committee is to develop policies for pet control and responsible for ensuring that the Pet Policy is obeyed.
The Grounds Committee
Similar in nature to the Maintenance Committee, the Grounds Committee oversees major Grounds issues, and collects quotes, selects a competent Contractor, etc. thus ensuring that work gets done here at Skotoko Housing. Each Member is responsible for the care and maintenance of their own yard and driveway.
The PR Committee
The PR Committee is responsible for the social activities and the newsletter within Skotoko Housing Co-operative.
elects a competent Contractor, etc. thus ensuring that work gets done here at Skotoko Housing. Each Member is responsible for the care and maintenance of their own yard and driveway.
The PR Committee
The PR Committee is responsible for the social activities and the newsletter within Skotoko Housing Co-operative.