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WHAT IS A CO-OP?
A housing Co-operative is a group of people who form a corporation to provide housing services for themselves. Co-op living is unique to all other forms of housing because it represents a community living within a community.
Democratic management is the lifeblood of a healthy co-op and the people who live in the co-op, and who collectively own and operate the housing, are voting members. The members elect a board of directors from among themselves and authorize the board to conduct the day to day business of the co-op in a manner that satisfies all of the requirements of Government Acts, Municipal Directives, Co-op Bylaws and Policies.
All members in a co-op share in the advantages and responsibilities of co-op life, which makes it more than just a place to live.
There are many kinds of co-operatives: food co-ops, co-op daycare, credit unions, retail co-ops, worker co-ops and housing co-ops. Any group of people can form a co-operative. The members own the co-operative and the co-operative provides a service they need. Housing co-operatives provide housing.
As a co-op member, you have a say in decisions that affect your home. You and your neighbors own your homes co-operatively. Members form a community that works together to manage the co-op. Co-op communities are made up of all kinds of people – people with different backgrounds and incomes and special needs. These diverse and vibrant communities are the unique strength of the co-op housing movement.
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