HOUSING CO-OPS
= SHAREHOLDER
OWN
PROPERTY
Housing co-ops are an alternative ownership model where households become shareholders of a cooperative (enterprise) that owns the building they live in. Shareholders do not own a unit, instead they own shares of the co-op and they receive a long term lease for the unit they live in. Additionally, each household is responsible for a monthly maintenance fee to cover the shared expenses of the building. In this model, households’ economic, social and cultural housing needs and aspirations are unified, promoting a strong sense of community commitment. Housing cooperatives are run by a board of residents/shareholders, which uses a democratic system to make decisions for the control and management of the property. Limited equity cooperatives are an alternative housing model that advocates for permanent affordability by restricting eligibility to low income people and by requiring limitations on the amount of profit shareholders receive when they resell their units. 104