People involved in cooperative housing in Newfoundland and Labrador are hopeful that federal money geared to adding to the housing inventory will make its way into the system sooner rather than later.
Ottawa allocated billions in last week’s mini budget to address what is viewed by many as a housing crisis.
Deputy Prime Minister Chrystia Freeland (Image via CPAC)
Ros Langer, property manager with the Cooperative Housing Association of NL, has been living in co-op housing for decades and says the benefits are numerous including being your own landlord. Each dweller pays to cover all the expenses.
They have a say in how their housing is being run, and their fees cover taxes, maintenance and insurance. Langer says the key is that it’s affordable housing.”
The difference from a condo association is that the co-op dweller never builds up equity in the unit.
