Co-op Ownership

We have had a number of questions concerning Co-Op Ownerships (as we have a couple of the market right now).

When you buy into a co-op you are purchasing shares in the Company that owns to the Co-Op - that's you.  The shares give you the right to occupy the suite.  Co-op's are usually less money that Strata Titles because it is very difficult & almost impossible to obtain financing.  If the co-op is a second home then you can obtain financing by registering on your personal residence.  The co-op functions as a strata would.  There are Rules & Regulations, By-Laws, Monthly maintenance fees and taxes (sometimes the Monthly Maintenance also includes the taxes but not necessarily) and a Board of Directors.  In the end, pretty straight forward.