“In a time when expensive 'luxury' apartments seem to be popping up on every corner, our student-run, democratic cooperatives have never been so important. Our residents are all equal parts of the whole, allowing our communities to take the shape their members envision. Residents are given the opportunity to join the Board of Directors, which is the governing body of the community.
We’re all here to learn. When you’re in school it is great to be engaged in community. There is no better way to participate in community than joining a cooperative, where everyone has a voice and everyone is valued.”
What is a housing co-op?
Co-op housing is member-controlled housing. Residents who live here are members, not “tenants”. Every year the membership elects a board of directors that governs the co-op. The board makes decisions regarding budget planning and building improvements in addition to planning social and cultural events for co-op members. Everyone can participate!
Will I be forced to do chores/maintenance or participate in activities?
Because you live in your own apartment, there are no shared chores nor are you expected to do your own maintenance. In addition, although co-op residents are encouraged to get involved in co-op activities, you are not forced to participate if you don’t want to. The experience is what you make it!
How are rents so low compared to other apartments in the area?
With the recent increase in construction of new “luxury” student-housing complexes comes another trend in close-to-campus living: Skyrocketing rent prices. Housing co-ops operate at cost and only raise rents enough to cover operating expenses each year. This leads to lower rents.
This sounds too good to be true - what’s the catch?
There is no catch! Co-op housing is a great alternative for people who have grown tired of the traditional landlord-tenant relationship and/or would like quality, close-to-campus housing without breaking the bank. Riverton Community Housing, as the management company, works directly with each board of directors to make sure the needs of the co-op and its members are met. If you have more questions about what it’s like to live in a housing co-op, please contact us at 612-331-3911
To learn more about co-ops, visit http://strongertogether.coop/food-coops/co-op-faqs-and-facts.