So, you want to start a housing cooperative. Where do you begin? Watch this video to unlock CHI's key tips for starting a co-op!
How do I start a housing co-op?
So, you want to start a housing cooperative. Where do you begin?
First, gather your core group of members and define your goals.
Then decide which co-op model is best for you. Different models are available depending on the country you are in.
Choose a name and decide who will take on which roles on the board of directors.
A critical part of getting started is building a team of experts who can advise you along the way.
Talk to lawyers, accountants, and organisational and property development professionals who specialize in co-op housing.
You’ll need to agree on your rules, incorporate, open a bank account, and develop your policies and procedures.
Building new or purchasing an existing building for your co-op is an important piece of the puzzle.
Get ready to apply for loans, permits, and grants.
The process can be complex, but you can find lots of support along the way.
One of the best things you can do to get started is to join local and regional federations, networks, and associations.
They offer advice, networking, resources, training, and advocacy to help you make your dream a reality.
So, get up to date with the cooperative legislation in your country.
And best of luck!
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