Pheasant
 
It's more than just a place to live...It's home.  
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                                                                                    41-1322 Pheasant Lane, Victoria, BC Canada V9B 5R3
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FAQ'S
Frequently asked  questions about Pheasant Meadows Housing Co-operative and
co-op's in general:

What is a housing co-op?

A housing co-operative is an incorporated, non-profit co-operative business formed by people who wish to provide and own their housing jointly. Co-ops provide housing to low and moderate income earners.

Governance of housing co-ops is controlled by the members who live there – it is a democratic and participatory process in which every member has a voice. Members are elected to positions on the co-op’s Board of Directors. Members also vote on the following matters:

  • By-laws that establish the rules that run the co-op.
  • The annual operating budget.
  • The annual audited statements showing how co-op money was spent over the previous year.

Who owns the units, and how is payment for housing calculated?

Units in a co-op are not owned by individuals. They are owned by the co-operative and cannot be bought or sold for profit. However, most members feel a sense of collective ownership, pride and community in their co-op.

Housing charges are used to cover the co-ops’ costs - its mortgage, capital expenditures, contracted maintenance and office co-coordinator. Housing charges rise only as costs increase.

What is required to fulfill my responsibilities to the co-op?

The minimum requirement of Co-op members is:

  • to pay the housing charges in full and on time
  • to attend enough general members meetings, and to get enough information to be able to make intelligent decisions
  • to care for their own unit and associated space
  • to treat the rest of the community with respect
  • to contribute a minimum of 2 hours per month, per unit, of volunteer participation.

Each Co-op needs somewhat more than the minimum participation from each of its members in order to meet its goals. Each Co-op will set its own expectations through discussion and debate.

You may want to get involved with building & grounds, social, membership, finance, Board of Directors, etc.