Each member has direct and equal control of their housing co-operative. Members exercise their right of control, by electing and giving direction to the Directors who are also resident members of the Co-operative, by getting involved at the Committee and Board levels, and by attending the General Membership meetings.
Housing is provided at cost so that financially it is usually more attractive. Since the Co-operative is jointly owned and managed, members have an opportunity to control costs by assisting in the everyday maintenance and operation of the co-operative.
Members can serve on the Board or on one of the working committees and become directly involved in setting and reviewing policies. Some committees are set up to address the social needs of the members.
It’s not just all work! Members enjoy having fun too! There are many opportunities for both.
There is a higher degree of “security of tenure” than in a rental situation. As long as you abide by the rules, able to look after yourself and pay your housing charges, you have a right to live in your unit.
As the members are working together to supply themselves with quality affordable housing, there is an opportunity to build an active, friendly, secure community.
Why Would/Wouldn't I Want to Live in a Housing Co-operative?
Why would I want to live in a Housing Co-operative? The biggest advantage of living in a housing co-operative is that as a member, you have a say in the way your housing co-operative is operated, and that makes a big difference over for-profit rental housing..
People who like to get involved and want a real sense of community will enjoy living in a housing co-operative.
Since a housing co-operative is run by its members, the participation of every member is vital to the success and longevity of the co-operative. Remember, running a co-operative is as tough, and as rewarding, as running any other business.
A co-operative is only as good as its membership. Fortunately, there are so many ways to contribute to the successful operation of a housing co-operative that everyone can participate in a meaningful way.
Why wouldn’t I want to live in a housing co-operative?
If you are NOT looking for a home with a sense of community. If you are NOT interested in participating (volunteering) to help make the housing co-operative a success-- If you are just looking for a place to live, then co-operative housing is not for you.
Housing co-operatives are not for everyone, but for many, they are the only way to live.