A co-operative is a group of people who come together to meet common goals, often in order to manage and control their work places or homes.
We are part of Radical Routes which is a network of small housing and worker’s co-ops from around the UK. Their free publications, which can be found here, are a good way to learn about different types of housing and worker’s co-ops, how they work and what they do.
We are a fully mutual housing co-op. This means that only tenants or prospective tenants may be members, and only members may hold a tenancy. It also means that decisions made relating to the operation and management of the housing co-op are made by all the members.
In practice living in a housing co-op functions in a similar way to renting. Your landlord is the legal structure of the housing co-op. None of the members own a share of the property and if any of them decide to leave they are free to. In the (incredibly unlikely) event that all the members leave the co-op, another co-op would take over the property so the investors can continue to be paid back.