housing cooperatives in Canada

Housing cooperatives in Canada are organizations where residents collectively own and manage their housing community, such as apartment buildings or housing complexes. Instead of owning individual units, members own shares in the cooperative, giving them the right to occupy a specific unit. The cooperative is responsible for maintenance, management, and decision-making, with residents participating in governance. This model promotes affordable, community-focused living and shared responsibility. Membership typically involves purchasing shares and paying monthly fees to cover expenses. Cooperatives operate democratically, with decisions made collectively, fostering a sense of community and shared ownership among residents.