How It Works
We have a total of six equal membership shares (a member can be a single or a couple) who own the full value of our property and house. Beyond this initial investment, we share equally the other costs of living together. We are structured as an equity housing co-operative and our by-laws conform to the BC Co-operative Act.
What are your by-laws?
Our by-laws (Rules) have been approved by the BC Corporate Registry. We are a registered Equity Housing Co-operative (2012) and are incorporated under the BC Co-operative Act.
What are the monthly expenses?
Monthly expenses are $440 per shareholder (single or couple), including:
How are shares valued?
in 2021, shares are valued at $250,000 CAD per share.
The co-operative directors determine the share value and the schedule for revaluing the shares.
What's the process of buying a share?
An interested single or couple contacts us. The co-operative directors interview potential new members, as we enter a mutual time of discernment, questions and considerations together. Once a potential shareholder indicates they are ready to proceed, the co-operative decides on inviting a new member(s) to join the co-operative. We have an intake process which includes a series of interviews, conversations, and a thorough review of co-operative documents and meeting minutes.
What happens when someone wants to sell a share?
An exiting shareholder(s) surrenders their share by written resignation from the co-operative. This effectively ends their membership in the co-op. The exiting shareholder(s) is no longer responsible for co-operative monthly contributions or any other costs. The co-operative has a maximum one year time limit, detailed in our by-laws, to return the share value investment to the exiting shareholder(s). This return of investment may happen sooner than the one year maximum limit if a new shareholder purchases the membership share before the one year limit is reached. The by-laws also include a process for an estate transfer of shares.
What are your by-laws?
Our by-laws (Rules) have been approved by the BC Corporate Registry. We are a registered Equity Housing Co-operative (2012) and are incorporated under the BC Co-operative Act.
What are the monthly expenses?
Monthly expenses are $440 per shareholder (single or couple), including:
- Property taxes
- Natural gas, electricity and common high speed internet
- City water, sewer, garbage
- House insurance
- Bookkeeping and administration
- Repair and maintenance
- Seasonal garden supplies
- Contingency reserve
How are shares valued?
in 2021, shares are valued at $250,000 CAD per share.
The co-operative directors determine the share value and the schedule for revaluing the shares.
What's the process of buying a share?
An interested single or couple contacts us. The co-operative directors interview potential new members, as we enter a mutual time of discernment, questions and considerations together. Once a potential shareholder indicates they are ready to proceed, the co-operative decides on inviting a new member(s) to join the co-operative. We have an intake process which includes a series of interviews, conversations, and a thorough review of co-operative documents and meeting minutes.
What happens when someone wants to sell a share?
An exiting shareholder(s) surrenders their share by written resignation from the co-operative. This effectively ends their membership in the co-op. The exiting shareholder(s) is no longer responsible for co-operative monthly contributions or any other costs. The co-operative has a maximum one year time limit, detailed in our by-laws, to return the share value investment to the exiting shareholder(s). This return of investment may happen sooner than the one year maximum limit if a new shareholder purchases the membership share before the one year limit is reached. The by-laws also include a process for an estate transfer of shares.
