Affordable Rental Cooperatives

In affordable rental and equity co-ops residents share the kitchen, bath, laundry, and common-area facilities of one large house. Shared responsibilities include meal preparation, household cleaning, minor maintenance, and grocery shopping. Weekly house meetings, house rules, bylaws and consensus decision-making process are common fixtures of cooperative housing. Co-ops are more affordable because residents can divide the costs associated with food buying, daycare, utilities, on-going maintenance, and monthly mortgage payments.

Affordable rental co-op acquisitions allow the BHC to capture existing rental properties and make them permanently affordable. The rent at these properties may start near market but over time we will keep rent increases as low as possible and these houses will have rents that are more and more affordable. The BHC will use the equity in these houses to buy more affordable cooperatives. The residents of these properties will receive a great deal of autonomy compare with standard rentals. Residents will do a lot of there own maintenance, balance the house books, collect the rent from the co-opers, fill the vacancies, hold weekly house meetings, create the rules and bylaws for the house. Residents will have rights commensurate with ownership which means that each house will select a representative to serve on the BHC board.