Purchase one ownership share in the Cooperative; a one-time cost scaled according to the size of home you select (Membership Cost).
Pay a monthly fee, also scaled according to the size of your home, which covers your portion of the cooperative’s mortgage, real estate taxes, building insurance, operating expenses, lender-required reserves, maintenance inside and out, heat, electricity, water, sewer, trash, recycling, cable TV, internet, phone and reserved heated underground parking (Monthly Carrying Charge).
You have a vote! Each shareholder has one vote in the election of the Board of Directors that gives the direction to the operation of the Cooperative.