housing cooperatives

Housing cooperatives, or co-ops, are a form of collective housing where residents collectively own and manage the property. Instead of owning individual units, members purchase shares in the co-op, granting them the right to occupy a specific unit and participate in decision-making. This model promotes community living and shared responsibilities, often reducing costs through collective purchasing. Co-op members collaborate on maintenance, governance, and community activities, fostering a sense of belonging. Housing cooperatives can offer more stability and affordable housing options compared to traditional rental or ownership models.