Housing co-ops and resident owned communities are unique applications of the cooperative business model. As an alternative to conventional rental apartments, mobile home parks, and condominiums, housing co-ops empower residents with ownership and responsibility. Each resident, or family, owns a share in the co-op, which owns the building or land, and has a say in decisions that affect the community, based on a one member, one vote principle.
Housing co-ops and resident owned communities are people sharing control of the way they live. The housing cooperative business model is revolutionizing housing for seniors and aging adults, for students at college and university campuses, and for families across the United States. In each co-op, residents manage the co-op collectively and always seek to benefit the group.
Ownership is impactful when dealing with where you live. In a housing co-op, the residents collectively own the building or land in which they live, not the independent units. Instead of paying rent to a middleman, or having individual mortgages and condo fees, co-op monthly payments contribute to the collective property expenses. Co-ops operate on an at-cost basis, often making them more affordable and typically more financially stable.
“Housing co-ops operate on an at-cost basis, often making them more affordable and financially stable”
What is INVESTED, BUILT, GROWN, MADE and SPENT with a co-op directly benefits the local community – make a bigger impact when you choose local co-ops.
Combat the widening wealth gap by empowering global communities with ownership and voice in the businesses that shape their lives.
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