© 2023 by Name of Site. Proudly created with Wix.com

  • Facebook Social Icon
  • Twitter Social Icon
  • Google+ Social Icon

 

A housing cooperative

(co-op) is a corporate

entity used to transfer homeownership to its shareholders. The corporation owns the physical real estate and

the individual shareholder possesses the right to 

occupy a designated unit within the co-op. (The designated unit is usually referred to as "your apartment").

 

In addition to the right of occupancy, shareholders set the policies of the co-op and control its business. The shareholders accomplish their control of the co-op by electing a Board of Directors from the general membership to represent their interests. The Board of Directors is responsible for the co-op’s business decisions. They oversee and are responsible for the operational and financial well-being of the co-op.

 

The specific low purchase price for each individual unit is based upon the number of shares designated for that unit. This purchase provides capital to our co-op. Annually, every unit accrues an additional stipend which is added to the shareholder's equity in the unit.

 

A limited number of units are also offered for rent at market rates. 

‚Äč

For more information concerning local Philadelphia area housing cooperatives, please visit the Philadelphia Area Cooperative Alliance  https://philadelphia.coop/