Housing cooperative - Definition and Overview

A housing cooperative is a legal form of real estate ownership where residents own shares in an entire group of homes, usually one or more apartment buildings.

This is distinct from condominiums where people own individual units. In not-for-profit housing co-ops each resident or resident household has membership in the co-operative association. Members have occupancy rights to a specific suite within the housing co-operative as outlined in their "occupancy agreement".

A cooperative housing project can resemble a traditional apartment building, or it can be the basis of an intentional community.

"Building co-operatives" are formed by members who cooperate to build their homes but own their houses on completion. Building co-ops were extremely popular across Canada from the 1930s to the 1960s.