What is a Housing Co-operative?
Briefly, housing co-ops were created to be co-operative, inclusive and community-based organizations, in order to provide safe and affordable housing to their members. Members are part of a community where neighbours look out for one another. Any surpluses are re-invested in the buildings in order to maintain them in good condition for the present and future generations of members.
Housing co-ops offer good quality housing, which is operated on a non-profit basis. Members of co-ops have security of occupancy and a say in how their co-op is run. Co-ops make decisions democratically (one member, one vote), and so the members are actively engaged in the governance of the co-op. It means that members actively take part in general and emergency meetings; elect the Board of Directors and run for the Board; receive audited financial statements showing how the co‑op spent money; approve by-laws, rules and major policies; and live in the co-op for as long as they like, providing they keep to the by-laws or rules agreed on by the members.
For more information about co-op housing, please visit CMHC (Canada Housing and Mortgage Corporation)
Tompkins Co-op
Our co-op is for members age 45 an up, that do not smoke, and have no pets. Tompkins co-op is is a member of CHFC (Co-operative Housing Federation of Canada). Our co-op follows these international cooperative principles:
- Voluntary and open membership
- Democratic control
- Member economic participation
- Autonomy and independence
- Education, training and information
- Co-operation among co-operatives
- Concern for community and future generations
If you would like to join Tompkins Co-op please visit the How To Apply page.