HOUSING CHARGES

Co-op members do not pay rent: they pay a housing charge, which covers all the co-op’s operating expenses. Each Member is responsible for his or her own utilities and household insurance. Members are required to maintain liability insurance for their units. Housing charges are set each year by the membership, who also approve the annual budget after estimating the expenses and operating costs for the Co-op.

SHARES

Share purchase in the co-op is based on unit size, and must be paid in full prior to move-in. Share purchase values do not increase over time; they remain the same in order to ensure affordable housing is available to new members.

Only one adult resident is eligible to become the principal member and own the shares for the unit. Additional adult residents may become associate members by purchasing one share for $10.00, which gives them the same voting rights and privileges as the principal member. Only residents are eligible to become members.

The co-op is administered by a Board of Directors, elected by the Members at an Annual General Meeting (in April of each year). The Board is assisted in its job by committees formed from Members, and by management and maintenance personnel hired or contracted out.

Members are expected to serve on committees or the Board, or to participate in other areas. Member participation keeps costs down and ensures that Members are in control of their own living conditions.

 

The share deposits must be paid before move-in. Shares are never issued jointly to two or more persons. The Co-op’s constitution forbids using the shares as collateral for a loan. Also, your Shares may be used by the Co-op for payment of any debts you owe it.

You do not own a specific unit, but rather take part in the ownerships of the Co-op as a whole. The Co-operative is “private property”, owned, managed and controlled entirely by its members.

You are welcome to download and fill out an application form to bring with you to our next orientation. You can mail in your application form, but it will not be validated until you attend one of our orientations. If you are on the waiting list, please be reminded that you will need to fill out a waiting list form and mail it to our mailing address below. This needs to be done once a year correlating to the date you attended an orientation. Both forms are available for download by clicking either link located in the right column.

Our mailing address is:

3514 Blue Jay Crescent
Vancouver, BC
V5S-4E4