Cooperative Housing Project
March 15th, 2008
A cooperative housing project is another type of ownership for a multi-family dwelling. Situated mostly in huge municipal areas, the owners of a co-op are in a larger group of ownership, instead of owning the individual units themselves. The standard monthly evaluation is like a condo as well. As a rule, the condo fee pays only for the building maintenance, such as pool upkeep, garbage removal, water and other utilities. In many cooperative housing projects, it may also include replacement of appliances and systems. For example, if a refrigerator, or air conditioner and/or other major appliance goes out, you would simply build in for a new one without having to buy it yourself.