What is a common characteristic of a housing cooperative?

A common characteristic of a housing cooperative is that many cooperatives are often self-managed. This means that the members of the cooperative take on responsibilities that would typically be handled by a professional property management team. Members work together to manage the building, make decisions, and coordinate the maintenance and operation of their living environment. This structure encourages a strong sense of community and collective ownership, as residents are directly involved in the management of their living space.

In some cases, cooperatives might choose to hire a professional management company, but self-management is a prevalent model because it allows members to maintain greater control over their costs and governance. Therefore, the characteristic of being often self-managed is fundamental to understanding how housing cooperatives operate and the level of involvement expected from their members.