How Co-operative Housing Works

A major benefit of co-op housing is resident control. In co-op housing, resident members work together to maintain the management of the co-op through a Board of Directors and committees that address finance, legal, buildings and grounds, member selection, social and communications, and more areas.

That being said, it is necessary for each resident member to participate within the co-op at least 6 to 10 hours per month. Methods of participation vary; each member can serve on the board, a committee or sign up for chores and other co-op jobs. Without the efforts of each resident member, co-op housing does not work.

Co-op housing isn’t for everyone, but it’s ideal for people who want to be involved with their neighbors in an intentional affordable housing community.

Co-op resident members pay carrying charges (co-op rent) that differ from apartment to apartment. The charges go toward the upkeep of the co-op. Every resident member also purchases a share in the co-op corporation to become a part-owner. If you move from the co-op, you sell your share to the next co-op members.