]How is Co-op Housing different from renting?

Co-operative housing may not be bought or sold for profit. There
is no landlord. There is no profit given to anyone. Housing
charges rise only when costs increase. 

Co-op members have more power than renters because they have a
say in what goes on. Each member has one vote in the operation of
a housing co-op.  Co-op members can vote on important matters
such as what their housing charges will be and what regulations
members will be expected to follow.

Co-op members also have more responsibility than renters. They
are expected to participate in the operation of the co-op. The
co-operative as a whole owns the housing and is responsible for
its management. When members help out in the co-op, they can keep
operating costs down. Lower operating costs mean lower housing
charges.

Members of housing co-operatives can stay as long as they respect
the membership rules. Their housing cannot be sold out from under
them. 

Monthly housing charges are geared to income and may change as a
person's income changes. If the member's income goes down, he or
she can apply for subsidy to help with the housing charges. If a
member's income goes up and he or she no longer needs help with
housing charges, the member can still remain in the co-op. 

People who participate in running their co-op can learn many new
skills, both from their fellow co-op members and through VICHA's
educational workshops. Co-op members can learn practical skills
and ways of working together with their neighbours.