Over the years, both the federal and provincial governments have created programs to support the development of non-profit housing co-ops. A housing co-op is an organization incorporated under the Cooperative Association Act that provides housing to its members. Members purchase a share to join and elect directors to govern the co-op. Most housing co-ops in BC are non-profit co-ops with a rental (not equity) model of housing, though there are also a few equity housing co-ops here too. Co-op members do not have a landlord and monthly rents are called "housing charges”.
Members of non-profit housing co-ops come from a variety of backgrounds and have a range of incomes making all co-ops "mixed-income communities." Some members pay a full housing charge. Other members with lower incomes may pay less based on a model of providing rent geared to income or RGI, and sometimes with a rental subsidy for those with an existing agreement with government.
Co-ops offer their members many advantages that are often unavailable in other forms of housing:
As a co-op member, you have security of tenure. That means you can live in your home for as long as you wish if you follow the rules of the co-op and pay your housing charges on time.
As a co-op member, you have a say in decisions that affect your home. You and your neighbours own your homes together, which means you have a say in how they are managed. Co-op housing is not public housing. Co-ops are self-governed, mixed-income communities, home to people of all ages and backgrounds. This diversity is one of the co-op movement’s greatest strengths.
Co-ops are communities in the truest sense of the word. While it’s common to hear people in other forms of housing say they don’t know or never speak to their neighbours, co-op members live and work together to create homes in active communities.
"Living in a co-op has changed my life. It has allowed me the peace of mind to make big decisions like having a second child or changing my job just to name a few. I love having neighbours I know and care for. We're not all best friends but we're a community! The type of safety and security that co-ops offer is what every single renter in Vancouver deserves. I'm glad I live in a co-op and I want everyone to be able to choose co-op living as well."
-Proud RS Member
"I feel privileged to raise my family in such a diverse, supportive and caring community.
We feel ever so grateful for the security, opportunity and quality of life that RS provides us."
-Proud RS Member