10 Empringham Drive, Unit 147, Scarborough, ON  M1B 3Y1 
                 Phone 416-283-1277  Fax:  416-283-2450 
                      Email: [email protected]

Rainbow Circle Co-operative

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WHAT IS CO-OP HOUSING?

 

Co-op housing is an alternative for people who cannot afford individual home ownership, but still wish to have some control over their living environment. 

 

The Co-operative's Members, as a group, own and operate the Co-operative.  They have final approval in most decisions involving the Co-operative's interests. There are no outside investors or owners to provide housing related services to Members or derive a profit from Members.  Thus, a Co-op can provide its Members with a home that's both affordable and secure.

 

Members of non-profit Co-ops do not buy or own their individual units. Rather the units are leased from the Co-op, which sets a housing charge to cover the costs.  This means Members are not required to make any sizable investments to move into a Co-op; nor will they reap any financial gain when they leave.

 

But what Members usually enjoy most about Co-op housing is the sense of community. The residents are more than neighbours, they're Co-op Members, and often find themselves working together on committees and special projects.

 

Co-op housing is not for everyone, but for those who wish to experience the true meaning of "Community Spirit", there is no better place to be than a Housing Co-op.