Cooperative Living

What is a Housing Co-op?

A Housing Co-operative (housing co-op for short) is a group of people working together for a common purpose. In the case of a housing co-op, the group of people are the members who live there, who are working to provide affordable housing 

Housing Co-ops are different because the people who live there share responsibility and control of their homes. People who live in a co-op are not simply just residents or tenants. They are members, and that is important factor of our organization. As members, people in a housing co-op live and work side by side with one common goal - making their co-op a healthy, happy place to be.

How Does a Housing Co-operative Work?

At Watermark Cooperative, we are an independent, self-directed, and a legal corporation. The people living in our units form the membership of our corporation. Each member has one vote in the affairs of the co-op. Every year the members select, from among themselves, a Board of Directors to manage the affairs of the co-op. We also have a Property Manager who handles the day to day business of the co-op.

The mandate of Watermark Co-op is to provide affordable housing in a comfortable environment for its members. To be housed at Watermark Co-op, you must first be accepted as a member.

What Kind of Volunteering will I Participate in?

The demands are not great and Watermark Cooperative Housing requests that members participate 2 hours per month.  There are certain requirements to which a member must agree to be accepted for membership which are:

• Pay your housing charges on time. 
• Keep your unit and the grounds in good condition. 
• Attend membership meetings. 
• Help take care of the common areas around each unit. 
• Be a good neighbour. 
• Become involved in your co-op, come out to social activities, volunteer to become part of a committee.