Cooperative living is something between renting and owning: Instead of rent, the cooperative member pays a moderate fee for using the flat, which – as the property of the cooperative – belongs to all shareholders including the resident member himself.
This model of joint ownership makes living affordable, keeps costs down, and serves first and foremost the interests of the people who live in the building.
For becoming a member, shares have to be acquired. The amount varies from one cooperative to another and is reimbursed to the member when leaving the cooperative.
Cooperatives are democratic organizations controlled by their members, so participation in decision-making is important. Each member has one vote. At regular intervals, the members elect representatives from among their ranks who constructively accompany the development of the cooperative.
The cooperative principle, which was developed more than 120 years ago, is based on the ideas of self-help, self-responsibility and self-administration.