A housing cooperative: what exactly is it? It’s more than just a place to live; it’s a nonprofit community aiming to provide affordable housing to its members. Let’s delve into this unique world.
Foundational Principles of the Cooperative:
- Democratic Organization: At the heart of every cooperative is a democratic general assembly, where each member has an equal voice. Decisions are made collectively, creating an inclusive community where every opinion matters.
- Collective Ownership: The cooperative holds the property of the building, thus assuming overall responsibility. Members are formal tenants, but they actively participate in crucial decisions and elect the board of directors.
- Financial Participation: Members contribute to the cooperative’s capital by subscribing to shares, usually between 5% and 10% of the value of their apartment. An investment reimbursed when they leave the cooperative.
- Solidarity and Conviviality: Beyond walls, cooperatives foster exchange, conviviality, solidarity, and a shared sense of responsibility. It’s an enriching life experience.
Benefits of Becoming a Cooperator:
- Control Over Your Habitat: As a cooperator, you actively participate in decision-making bodies, directly influencing your residential environment.
- Rent Dedicated to Costs: Your rent strictly covers costs, offering you rare financial transparency in the rental market.
- Advanced Protection: Cooperatives provide better protection against evictions, ensuring residential stability.
- Higher Quality of Life: Quality criteria are a priority, favoring functional spaces and fulfilling human relationships.
Becoming a Cooperator: How?
- Acquisition of Shares: Owning at least one share is the first step. Many cooperatives offer this opportunity for a modest sum.
- Housing Application: Registering as a housing applicant with Geneva cooperatives and appropriate agencies is essential.
Cost of Shares and Financing:
- Variable Costs: The cost of shares varies according to the building, the cooperative, and its financing, typically ranging from 1,000 CHF to 10,000 CHF per room.
- Payment Options: Payment conditions vary from one cooperative to another, offering flexible terms to meet members’ needs.
- Possible Financing: In case of need, financing for shares can come from the 2nd pillar or a loan from the State of Geneva, repayable over 5 years.
In the framework of this cooperative adventure, every contribution matters, every member shapes their community, and every home becomes a success story. Welcome to the warm world of Geneva housing cooperatives.
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