Not a whole lot to say here with the exception that I will be heading off to a meeting with the Co-op Housing. I think about three or four times a year the management holds a meeting. Attendance to at least one of them is very important to say the least. Now,I don’t know what the meeting will be all about but I expect pretty much the same thing as always. They will be talking about board members and other issues which I think will probably be discussed such as inspections of the property. Which I think is one downside of making property Co-op. They can come in at anytime and inspect your place, sometimes without notice. And they can take rent money without notice even when you don’t have any funds in your account.
Another downside I have is that ownership doesn’t belong to the owner.So the owner has no say as to whether or not they can do extra work such as renovations that are independent of management. Of course we cannot forget rent as well since it has to be paid every month or else they can either ask for more money or they can change the locks on you and kick you out for falling behind in rent. All in all, there is no real ownership of the property you are in. So those are the disadvantages.
I can name the advantages of living in Co-op Housing but I may have to write about them in another entry since I am pressed for time. But I think you get the idea.