Here are the basics of what Co-operative Housing is all about.
Co-operative housing is a unique way of renting a home. People join housing co-ops because they want housing that is: Decent, Affordable and Secure
The people who live in the co-op are its members. The members are responsible for managing the co-op. There is no landlord. Members elect a Board of Directors from among themselves. The Board oversees the running of the co-op.
The units belong to the co-op. The Co-op leases them to the members. No one can buy or sell the units. Usually co-ops set aside some units for people with special needs.
A Board of Directors, composed of co-op members, is elected by the membership to manage the affairs of the Co-op. Members make monthly payments (Housing Charge) covering the cost of the mortgage, taxes and all operating costs. Britannia Glen Co-op depends on the active participation of members for its health and successful operation. Active participation includes service on the committees or Board, attending Meetings, and assistance with ongoing maintenance of the Co-op.
Each Member is Expected To:
• Participate in the ongoing development of the co-op as a community
• Participate in the ongoing operation of the co-op
• Abide by the by-laws, agreements, policies and rules set from time to time by the co-op
• Respect the human and civil rights of others and to generally live peaceable with fellow members.
