My housing coop charges 38% market rate rent, maintains the common area, has a property manager, and provides units fridge/stove/furnace/AC, on 46 three bedroom townhouses.
So either landlords are wildly inefficient with their expenses, or they are taking a crazy margin over their operating expenses.
Right, I’m not arguing that landlords are good. They seem to be a symptom of a system set up to encourage their shitty behavior.
I do wonder if a housing co-op is protected by law in some way. Or more likely it relies on a few people having good intentions who are running it. A housing co-op with no intent of profiting, ever, would be a good system imo.
These are all non-profits, that have bylaws governing them. If there’s a weird situation the coop can go into receivership and a new legal board established to resolve those problems.
My housing coop charges 38% market rate rent, maintains the common area, has a property manager, and provides units fridge/stove/furnace/AC, on 46 three bedroom townhouses.
So either landlords are wildly inefficient with their expenses, or they are taking a crazy margin over their operating expenses.
Right, I’m not arguing that landlords are good. They seem to be a symptom of a system set up to encourage their shitty behavior.
I do wonder if a housing co-op is protected by law in some way. Or more likely it relies on a few people having good intentions who are running it. A housing co-op with no intent of profiting, ever, would be a good system imo.
Well yeah that’s where I live.
There are regional housing federations that deal with helping the governance of these organizations https://www.housinginternational.coop/members/co-operative-housing-federation-of-canada/
These are all non-profits, that have bylaws governing them. If there’s a weird situation the coop can go into receivership and a new legal board established to resolve those problems.