What’s a housing coop?

We’re a federal coop (section 95 or section 56.1 – same thing – different names). through CMHC. We’re a non-profit coop:

Here’s a note from the cmhc website:

There are two main types of housing co-ops: non-profit and for-profit. While this guide does not look at the differences between the two, many provinces require that housing co-ops operate on a non-profit basis. If the co-op is non-profit, members cannot sell their shares in the co-op. In for-profit housing co-operatives, members own a share of the co-op, but not the individual unit they live in.

http://www.cmhc-schl.gc.ca/en/co/buho/gucoho/index.cfm

If you’re really curious, you can download a 48-page guide from the website.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: