What is a housing co-op?

  • Have you ever heard of Housing Co-operatives?
  • Do you know what a Housing Co-op is?
  • Did you know that there are at least eight Housing Co-ops the New Cross area?

    A housing co-operative is a group of people who manage and run the housing in which they live. Each person is a member of the housing co-operative and has an equal say in decision-making, from rent policies to whether to install low-energy light bulbs. No member individually owns or makes profit at the expense of another.
    Some co-ops provide accommodation for single people in shared houses and others have family homes. All members are expected to take an active role in managing the accommodation and the level of rent the tenants pay reflects the cost of managing the housing.
    Housing co-operatives are usually created as Industrial and Provident Societies and are registered with the Financial Services Authority (FSA).
    Housing co-ops, by nature, offer a supportive community and a different way of living that is safe and secure. Look out for more information in the next issue…
    or visit www.nxgtrust.org.uk