A Borettslag is a type of housing cooperative commonly found in Norway. In this arrangement, residents own shares in the cooperative, which gives them the right to occupy a specific apartment. This model allows for shared ownership and management of the property, making it a popular choice for many families and individuals. Residents of a Borettslag typically pay a monthly fee that covers maintenance, utilities, and other communal expenses. Decisions about the property are made collectively by the members, fostering a sense of community and cooperation among residents.