Each housing co-operative is a self managed independent corporation. It is legally incorporated under the Co-operative Corporations Act of Ontario. Only residents are allowed to be voting members. These members meet about four times a year to give direction to the Board of Directors on how to manage the Co-op, set policies and review its financial status. The Government provides assistance to bridge the gap between the actual cost of providing the housing and the monthly charges paid by the Co-op members.
Homes are more than roofs and floors.
If you are interested in living in a Co-op and are willing to participate, you are welcome to become a member. After you have completed the application form and attended an information meeting you will be interviewed by two members. Once your application has been approved by the Board of Directors and there is a suitable vacancy, you will be offered a unit. If you accept, a holding deposit which is deducted from your first months housing charges, is required. The unit deposit is refunded to you when you move out, provided your unit is in good condition.