Housing cooperative

A housing cooperative is a residential arrangement in which a cooperative corporation or association owns property and residents hold membership shares or rights to occupy homes. Residents collectively govern the property and share responsibility for its costs.

Cooperative corporation: A member-owned corporation governed by its members and organized to serve their shared interests. It is the legal entity that typically holds title to cooperative property.
Condominium: A form of property ownership in which individuals own separate units and share ownership of common areas. Unlike cooperative members, condominium owners generally hold title to their individual units.
Student housing cooperative: A cooperative housing organization that provides student members with collectively managed residences. It applies cooperative ownership and governance to student accommodation.
Rochdale Society of Equitable Pioneers: An English consumer cooperative founded in Rochdale in 1844, influential in shaping modern cooperative principles. Its practices helped establish principles later adopted by housing cooperatives.
Collective ownership: Ownership in which a group holds property or productive assets jointly or through a shared organization. A cooperative corporation turns collective ownership into a residential arrangement.
Proprietary lease: A lease granting a cooperative shareholder the right to occupy a specific unit. It commonly connects a resident’s shares to the right to occupy a particular home.
Rental housing: Housing occupied by tenants who pay rent to a landlord without owning an interest in the property. Cooperative residents usually hold membership interests and governance rights beyond a tenancy.
Senior housing cooperative: A resident-owned housing development designed for older adults, commonly organized as a cooperative corporation. It adapts cooperative membership and shared property management to older residents.
Cooperative movement: A social and economic movement promoting enterprises owned and democratically controlled by their members. Housing cooperatives are one application of this broader movement.
Democratic governance: Decision-making in which members participate through voting, representation, or other accountable procedures. Member voting gives residents a role in setting cooperative policy.

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