From the outside, a housing co-op looks like the other homes in the neighbourhood. It can be a new apartment building, a row of townhouses or a charming old triplex. What makes it different is not bricks and mortar, but the way its residents share the responsibilities and control of their homes.
A housing co-operative is more than just a place to live. It is a legal association formed for the purpose of providing homes to its members on a continuing basis. A co-op is different from other housing associations in its ownership structure and its commitment to co-operative principles.
Across Canada, co-ops are home to about a quarter of a million people. Just the numbers includes these and other facts.
We’re proud of our history and you’ll find the key events in bookmarks in our history.
CMHC has created a “Guide to Co-op Housing” that gives an overview of what is required to create and run a co-op, the laws and regulations governing co-ops, and what sets co-ops apart from other kinds of housing.
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What sets co-ops apart from private rental housing is that they are democratic communities where the residents make decisions on how the co-op operates.
In a non-profit housing co-op you are
a voting member who volunteers to help with co-op operations
part of a community where neighbours look out for one another living in housing that will stay affordable because it’s run on a non-profit basis and is never resold
linked through the Canadian Co-operative Association and the Conseil canadien de la coopération with other Canadian co-operatives active in banking, retail, farming, insurance, day care, health services and more
a member of a world-wide movement.
In a housing co-op you have the right to
vote on the annual budget, which sets the monthly housing charges and affects the quality of your housing – for example, how much the co-op will spend on property upkeep
elect a board of directors made up of people who live in your co-op
run for the board of directors yourself
receive audited financial statements that show how the co-op spent your money
pay only a limited portion of your income for your housing, if you meet certain eligibility rules
live there for as long as you like, if you keep to the by-laws you and your neighbours have put in place