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Cooperatives: A Housing Alternative for Rural America

Author

Listed:
  • Kennedy, Tracey
  • Jermolowicz, Andrew
  • Lambert, Mary Ann
  • Reilly, John
  • Rotan, Beverly

Abstract

In a housing cooperative, people join to form a cooperative corporation that owns the buildings in which they live. Purchasing a share in the cooperative entitles each member to lease and occupy a dwelling unit from the cooperative and to participate in its operation. Each member pays a share of the cooperative’s monthly expenses. Housing cooperatives are democratically controlled, meaning that each member has one vote in deciding the affairs of the cooperative. Housing cooperatives offer affordability, a sense of empowerment in that residents have control of their own living situations, and the permanence and stability that comes with home ownership. The basic steps involved in organizing a housing cooperative may occur in a different order or even simultaneously, depending on the project. No matter what the project, the process involves identifying needs, measuring interest, determining financial feasibility, and incorporating as a legal organization.

Suggested Citation

  • Kennedy, Tracey & Jermolowicz, Andrew & Lambert, Mary Ann & Reilly, John & Rotan, Beverly, 1995. "Cooperatives: A Housing Alternative for Rural America," Service Reports (SR) 317809, United States Department of Agriculture, Rural Development.
    • Handle: RePEc:ags:urdvsr:317809
    DOI: 10.22004/ag.econ.317809
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