What is a Co-op?

Housing cooperatives offer not-for-profit housing to their members. When a member moves out, their unit is returned to the co-op and made available to another individual or family in need of affordable housing. Some co-op households pay a reduced monthly housing charge based on their income, with government funds covering the difference between this charge and the co-op's full rate. Other households pay the full monthly charge based on the cost of maintaining the co-op. Since co-ops charge only what is needed to cover costs, repairs, and reserves, they can provide housing at a more affordable rate than typical private-sector rentals.

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For more, check out the Co-operative Housing Federation of Canada's website here.

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